A cold start to 2025 — home sales lag in Northeast Florida

An aerial view shows homes in the sprawling retirement community known as The Villages, Fla., Sept. 15, 2024. (AP Photo/Rebecca Blackwell)

Single-family home sales took a tumble in Northeast Florida in January.

There were 1,114 houses sold last month in the six-county region of the First Coast. That’s down by 39% over December’s 1,826 closed signings. It’s also a 2.6% decline in the year-over-year comparison to January 2024, when there were 1,144 homes sold in Northeast Florida, according to figures released this week by the Northeast Florida Association of Realtors (NEFAR).

The median price of a home on the First Coast dropped in January compared to December’s price tags. The median sales price stood at $376,990 last month, a 5.8% decline from the previous month’s figure of $399,995. However, January’s price for homes was up slightly from January 2024, when the median number was $374,950.

While Realtors are increasingly pressed to sell homes on the market, NEFAR reported that the active inventory of homes for sale on the First Coast is rising. January’s inventory of homes included 7,556 houses, a 14.7% increase over December’s number of 7,556 and a staggering 72.6% jump from January 2024’s figure of 4,377 homes for sale.

NEFAR officials say a brutal arctic cold spell that plowed into Florida for well over a week last month is partly to blame for fewer people actively touring homes for sale in Northeast Florida.

“Additionally, the ‘arctic freeze’ that found its way to Jacksonville also kept many folks in the warmth of their homes instead of outside looking for their next home, so it’s not surprising that days on the market trended up and pending sales trended down,” said 2025 NEFAR President Mario Gonzalez.

Gonzalez noted that the declining median home sales price could lead to more affordable houses this year. However, whether January was a fluke or a trend remains to be seen.

Most First Coast counties saw home sales decrease in January. Duval County, home to Jacksonville, witnessed a sizable percentage drop in closed sales, plummeting 40.2% compared to December to 583. Home prices also slipped, falling 5.6% compared to December to $318,000.

St. Johns County saw a 44.4% monthly plunge in closed home sales last month. The median price for a home also dropped 2.1% from December, falling to $535,000.

Nassau County also took a hit in closed home sales, dropping 44.1% in January from December to 62. Nassau had a 5.5% decrease in median home prices, falling to $472,500 for the month.

Clay County closed sales dropped by 30% in January compared to December, falling to 156. Median sales prices dipped by 5.3% from December, settling at $350,500.

Putnam County, a largely rural area, saw an uptick in closed home sales, increasing by 42.9% compared to December, coming in at 30 closings. The median sales price fell to $232,500.

Baker County, the most rural county in Northeast Florida, was the only county on the First Coast to see median sales prices increase. From December, they increased 7.4% to $319,5000 in January. Closed home sales increased to 12 houses purchased.