Posted 12/12/2023, 7:21:45 PM
Northeast Florida Home Prices Rise While Holiday Sales Slump
- Median home prices in Northeast Florida increased over 5% in November to $390,280, nearing the July 2022 high of $395,000
- Closed home sales plummeted over 16% and pending sales dropped 19.2% in November, as buyers paused during the holidays
- Inventory rose with a 4-month supply in November, benefiting buyers but indicating the market is still not at a stable 6-month level
- The region's affordability index remained at an all-time low of 63 in November, with St. Johns County the least affordable at 48
- Individual county data shows mixed median price and inventory changes, but consistent sales drops between 16-57%