A balanced mix of growing housing options and steady buyer activity marked June’s housing market across Northeast Florida, according to the Northeast Florida Association of Realtors (NEFAR).
A healthy regional inventory provided buyers with more choices, with closed sales gaining momentum even as pending sales cooled following a strong spring market.
“Today’s market isn’t about panic or hype, it’s about opportunity,” said NEFAR President Kim Knapp. “Buyers have more choices, sellers need strong strategies, and knowledgeable realtors have never been more valuable. A balanced market rewards preparation, expertise and professionals who know how to guide clients with confidence.”
The median price of a single-family home in Duval County in June decreased from the month prior by 3.2% to $350,000, with homes spending an average of 25 days on the market, another decrease from May, this one by 10.7%.
Nearly 1,000 sales closed in June – up 3.5% – with 667 pending sales. New listings increased nearly 2% to 1,378, and with an active inventory of 3,481 homes, Duval County had a three-and-a-half-month supply.
Jessica Chefan Hansen of the Chefan Group with One Sotheby’s International Realty said San Marco continues to be a desirable neighborhood for buyers, with the $500,000 to $1 million price range being the busiest price range for the area. Hansen said the summertime saw a steady mix of buyer and seller activity.
“With homes, especially within the San Marco area, we find that buyers have limited their search down to specifically San Marco, especially because of Hendricks [Avenue Elementary School] being an A-rated public school,” Hansen said. “So we have buyers that come in with young families that specifically chose San Marco with that being one of the reasons, and they’re able to wait until the right home hits the market, and if it’s priced appropriately, they act fast.”
Anita Vining, a realtor with Berkshire Hathaway HomeServices Florida Network Realty, echoed Hansen’s comments.
“As houses come on the market, they are selling very quickly if they’re priced right and if they’re in good condition,” Vining said.
Both Hansen and Vining anticipate a busy fall season, with Hansen calling it the second busiest time of the year and Vining stating, “When school starts is when my phone rings a lot.”
The Jacksonville market, in general, will continue to be strong, Vining speculated.
“Demand remains strong because of Northeast Florida continuing to attract people, and they’re relocating from higher-cost states, and they appreciate our quality of life,” Vining said. “Our business, I believe, is going to continue as we’re not impacted by the high interest rates…It’s the people that continue to come to Jacksonville that are driving our real estate industry.”