Davidson Realty, Inc.

Northeast Florida Market Stats | October 2025

November 24, 2025

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Posted by in Uncategorized

“Be present in all things and thankful for all things.” — Maya Angelou

 

The latest market review from the Northeast Florida Association of Realtors® (NEFAR) is out, and it shows a market that continues to find its balance as we head toward the end of the year. The market highlights:

 

  • Median Sales Price: $294,900 — down 3.3% from September but still up 0.1% from last year. Overall, prices remain stable.
  • Closed Sales: 2,707 — down 4.2% from last month and up 0.7% year-over-year.
  • Pending Sales: 2,083 — down sharply, 24.7% from September and 18.5% from last year.
  • Active Inventory: 11,969 — up just 0.4% from September, down 1.1% from last year, showing steady supply.
  • Months of Supply: 4.4 months — up slightly from 4.2 months in September, signaling a market moving toward balance between buyers and sellers.

According to the National Association of Realtors® 2025 Profile of Home Buyers and Sellers, the housing landscape continues to evolve:

 

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Northeast Florida Market Stats | June 2025

July 21, 2025

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Posted by in News

‘The pessimist sees difficulty in every opportunity. The optimist sees an opportunity in every difficulty.’ – Winston Churchill

 

After three years of elevated interest rates and a cooling sales environment, the market continues to demonstrate evolving opportunities. According to the Northeast Florida Association of Realtors’ June 2025 report:

 

  • Median sales price of $350,000 is unchanged from May and down 1.4% from last year.
  • Closed sales totaled 2,597, a 3.4% dip from May and a 5.3% decrease compared to June 2024.
  • Pending sales saw a notable decline, down 32.5% from May and 31.7% year-over-year, indicating a cautious but watchful buyer pool.
  • Active inventory of 12,364 is up slightly 2.2% from May and 13.3% from last year, offering more choices to prospective buyers.
  • There is 4.8 months’ supply of homes available reflecting a more balanced market between buyers and sellers.

While higher mortgage rates and affordability challenges continue to temper demand, inventory levels remain far more stable than in past downturns, such as the Great Recession, when forced sales drove oversupply. Notably, Florida Realtors reported statewide single-family home prices in May were 2.7% lower than last year, but still an impressive 54% higher than in 2020.

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Northeast Florida Market Stats | November 2024

December 27, 2024

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Posted by in Uncategorized

“It is Christmas in the heart that puts Christmas in the air.” W.T. Ellis

 

Everyone at the Davidson Companies wishes you a Merry Christmas!

 

The November 2024 Market Review from the Northeast Florida Association of Realtors looks a lot like the October Review. The median sales price for all property types in all 6 counties is $350,000 which is down 4.1% from last year and up 1.4% from last month. The median sales price has remained stable all year.

 

There were 1,846 closed sales which is up 0.3% from last year and down 12.58% from last month. Pending sales of 1,502 are down 12.8% from last year and down 19.8% from last month.

 

Active inventory of 10,556 homes is up 74% from last year and 8% from last month. This is a huge increase but between 2012 and 2019 active inventory stayed in the range of 8,000 to 10,000 homes. This inventory level is being compared to very low levels after the pandemic.

 

Months supply of inventory is 5.37 months. Five to six months of inventory is considered a balanced market.

 

In summary, the sales price is stable. Sales and closings have remained low for the past 2 years. Inventory continues to grow. When mortgage interest rates were low, the inventory was low. As interest rates have stayed higher, inventory is growing.

 

I have listened to predictions from multiple economists recently from the Realtor Associations, the Homebuilders Association and several independent companies. Most economists are predicting mortgage interest rates to be near 6% in 2025. Even if short-term interest rates drop, they are not predicting large drops in mortgage interest rates.

 

Dr. Lawrence Yun, the NAR chief economist is predicting existing home sales to grow 7 to 12% in 2025 and new homes sales to grow 11%. A few economists are predicting smaller growth, and a few are predicting more.

 

Most of the economist are predicting median home prices to rise slightly. Dr. Yun is predicting a 2% rise in prices nationally. Some local markets will do a little better and some worse, but I haven’t seen anyone predicting large price decreases.

 

With the election behind us and a little more stability in mortgage interest rates, I expect 2025 to be a better year for the real estate industry.

 

Thank you for your support this year and please let me know if we can help with any of your real estate needs. Wishing you a wonderful 2025!

 

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Northeast Florida Market Stats | August 2024

September 30, 2024

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Posted by in Uncategorized

“Not all of us can do great things. But we can do small things with great love.” Mother Teresa

 

We present our Jim Davidson’s Annual Clay Day to you with great love. Our event is October 17th, and you could do a small thing to support six great local charities by purchasing a raffle ticket to one of our four great prizes. We have $1,000 of scratch off lottery tickets, our cooler and cocktail, a $1,000 gift certificate and basket to the Ponte Vedra Spa, and a 12-gauge shotgun. Go to DavidsonCares.com for all the details.

 

We are all wondering what will happen with mortgage interest rates with the Federal Reserve meeting next week. “Predicting mortgage rates is difficult due to the complexity and interplay of various economic factors that influence them. However, in very simple terms, historical data suggests that a 100-basis point rate cut typically leads to an 87-basis point drop in mortgage rates. With the Fed expected to lower its rates by 50 basis points by the end of the year, mortgage rates could fall to around 5.9% by year’s end. Nevertheless, this impact will likely be lessened as mortgage rates have already priced in some of the expected rate cuts. As of now, mortgage rates are already over 100 basis points lower than they were at the end of May 2024.” (National Association of Realtors)

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Northeast Florida Market Update

February 16, 2023

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Posted by in News

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”

Henry Ford

 

In the 2023-2026 Florida and Metro Forecast, Dr. Sean Snaith, the director of the University of Central Florida Institute of Central Forecasting said “The U.S. economy is either in or on the brink of a recession. Because of the forecasted shape of the recession: a gradual decline into recession and 12 or more months in the downturn followed by a gradual climb out of recession, we have dubbed the recession the Pasta Bowl Recession.” If you haven’t heard him speak, take the opportunity. He is very smart and very funny.

 

A few interesting predictions from the forecast are:

 

Real Gross State Product will mildly contract during the recession as growth will slow to -1.3% in 2023, turning positive in 2024 and accelerating in 2025 to reach 1.7% by 2026.

 

The unemployment rate was 2.9% in 2022. The recession will push up the rate to 4.6% in 2023, and to 5.8% in 2024, before easing slightly to 5.4% in 2025 and 5.0% in 2026.

 

Housing starts were 192,294 in 2022 with starts decelerating to 133,829 in 2023 and 134,755 in 2024 before ticking up to 149,920 in 2025 and 152,865 in 2026.

 

The Northeast Florida Association of Realtors (NEFAR) market stats for January 2023 show the median sales price is stable, closed sales are down, pending sales are up and inventory is up slightly from last month.

 

The median sales price of $330,000 is down 2.4% from December and up 3.4% from last January. There were 1,525 closings which is down 30% from last month and 33% from last year. This reflects the last several months of very low buyer demand.

 

There were 2,248 pending sales in January. This was the most since August of 2022. Nationally, pending sales increased for the first time since May.

 

“This recent low point in home sales activity is likely over,” said NAR Chief Economist Lawrence Yun. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

 

There were 3,451 new listings in January which is 32% higher than the previous month and 19% higher than last year. The active inventory went from 6,231 last month to 6,403. When you read how much inventory has increased, keep in mind how many of the new listings were absorbed. There is plenty of demand and the spring buying season looks to be warming up.

 

I love this time of year with March Madness coming, Baseball Spring Training starting and the real estate market getting back to a more normal rhythm. If we can help you with any of your real estate needs, please let us know.

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