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Report: Housing supply increases while prices drop in January - Jacksonville Business Journal

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Report: Housing supply increases while prices drop in January

The housing market inched toward stabilization with prices dropping slightly and supply increasing in January, according to the Northeast Florida Association of Realtors.

Median sales price of single-family homes in Northeast Florida was $360,000, a 2.7% dip from December. The median number of days on the market in January was 55 days, increasing 14.6% from December. Closed sales fell to 1,074, a 34.9% decrease from December 2022, the report said. The median price of single-family housing in Duval County was $308,000 in January, a decrease from December 2022's median price of $319,945, the report said. The median days on the market in Jacksonville stood at 50 days, a 28.2% increase from December.

The affordability index of the six-county region is 76, though St. Johns County continued to be the least affordable county in the region with an affordability index of 52.

 

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