Real Estate Update Summer 2025

Overall the national real estate market is shifting. The national housing supply reached a peak in April of this year with many homeowners deciding to sell, even though they’re giving up their super low pandemic-era mortgage rate. The Northeast is experiencing a strong seller's market with multiple offers and limited inventory. Other parts of the country are seeing the opposite trends. Here in the Sunshine State, we’re experiencing a downward trend in home values and big increases in available inventory.

In this update, we’ll explore how these different segments are performing, what’s driving the market, and what buyers and sellers can expect as we move forward.

The Jacksonville housing market continues to cool after the unprecedented highs we experienced during the pandemic, with both home sales and new construction easing back. When compared to the same time last year:

• The median sale price dropped almost 4%
• The average days on the market was up 34.5%
• Closed sales were down 10%
• Pending sales were down 33%
• Active inventory was up 20%

In Ponte Vedra Beach the shift is even more dramatic with:

• The median sale price down 23%
• The average days on the market was up 5.7%
• Closed sales were steady (with 48 sales in the month)
• Pending sales were down 39% (this number makes us particularly anxious and suggests that the market statistics for the next quarter will be depressed too)
• Active inventory is up almost 38%

Nocatee is also seeing a dramatic shift with:

• Median sale prices down almost 6%
• Closed sales down 28%
• Days on the market up 89%
• Pending sales down 50%
• Active inventory up 33.3%

(Source: Northeast Florida Association of REALTORS)

The Luxury Market:

Jacksonville’s luxury market posted the steepest year-over-year decline in April (27%) and pending sales fell 16% (according to Redfin). This isn’t surprising considering the volatility in national financial markets and uncertainty with shifting tariff policies. Almost a third of the luxury sales in Northeast Florida are cash purchases. It’s common for luxury buyers to liquidate stocks to fund cash purchases or down payments, and fluctuations in the stock market have caused some to pause on making significant investments.

Interestingly, the median days on market for luxury homes has remained steady at 51 days, even as sales volumes have declined—April saw a 17% year-over-year decrease in luxury home sales. This suggests that while the market has slowed, it remains active and buyers are more deliberate.

New Construction:

Builders are responding to the shift in real estate dynamics by creating attractive buyer incentives to drive new home sales. Many of our local builders are offering mortgage rate buy-downs, cash assistance at closing and/or credits in their design center to grab buyers’ attention. It’s hard for a traditional resale home to compete with these incentives.

What This Means for Buyers and Sellers

While the numbers point to a shift in momentum, they also highlight a market where buyers hold more power—and are using it to be more selective and demanding. Today’s buyers are looking for homes that are move-in ready, beautifully updated, and meticulously maintained. They are carefully weighing their options and waiting for the right property to come along.

For sellers, this means that details matter more than ever. Presentation, including professional staging and thoughtful updates, are critical to attracting today’s discerning buyers and standing out in a more competitive market.