Northeast Florida Market Analysis: A Shift to a Buyer's Market

The Northeast Florida real estate market is experiencing a significant shift, as highlighted by the latest January 2025 market statistics from NEFAR. This change presents a unique opportunity for buyers who have been waiting for the right time to enter the market.

Let's break down the key numbers and discuss what they mean for potential buyers.

Key Market Highlights

• Active Inventory: 7,556 homes are currently on the market, a 14.7% increase from the previous period. This growing inventory gives buyers more options than they've had in recent years.
• Pending Sales: A sharp 34.5% decrease in pending sales indicates a slowdown in buyer activity, offering more negotiating power to current buyers.
• Months Supply of Inventory: The supply has surged by 77.3%, reaching 6.8 months — a clear signal of a buyer’s market (typically defined as anything over 6 months).
• Median Sales Price: The median sales price has dropped by 5.8% to $376,990, making homes more affordable.
• Days on Market: Homes are staying on the market for an average of 53 days, up 3.9% from previous figures. Buyers now have more time to evaluate their choices without feeling rushed.
• List Price Received: Sellers are receiving 96.6% of their list price, a slight decline, further indicating room for negotiation.

What This Means for Buyers

This is the best time in years to explore purchasing real estate in Northeast Florida.

• More Choices: With the increased active inventory, you’re no longer limited to a few listings.
• Negotiation Power: Lower list price percentages and a rise in inventory put you in a strong position to negotiate favorable terms.
• Affordability: The declining median sales price makes purchasing more attainable.

Why Act Now?

While the market has shifted to favor buyers, interest rates and other market dynamics may still change. Taking advantage of this window could position you for future financial benefits.

Let’s Talk About Your Real Estate Goals

Ready to find your dream home or investment property? Set up a free consultation today to discuss your real estate goals and how we can leverage this market shift to your advantage.

Schedule Your Free Real Estate Consultation Here!

Don’t miss out on this rare opportunity to navigate a favorable market!

Source: Northeast Florida Association of REALTORS.