Welcome to 2025! As we dive into the new year, the Northeast Florida real estate market is showing signs of adjustment. While the holiday season often slows down activity, November brought notable changes in supply, demand, and pricing that set the stage for January. Whether you’re buying, selling, or simply keeping an eye on the market, understanding these trends is essential for success.
Mortgage rates dipped slightly in December, with the average 30-year rate settling at 6.72%. This slight decrease from November’s 6.81% gave buyers a bit of relief. However, rates remain higher than the record lows of prior years, making affordability a key factor for many buyers.
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Demand Dynamics and Sales Projection:
Closed sales saw a seasonal uptick in December, with 2,194 homes sold—a 22% increase from November and a 12% rise compared to December of last year. While this surge aligns with year-end buying trends, homes stayed on the market longer, averaging 45 days, up slightly from 44 in November.
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The supply of homes ended the year with 9,150 active listings—5% lower than November but a significant 27% increase compared to December 2023. Median sales prices held steady at $366,000, showing a 1% rise from November but remaining 2% lower than the same time last year.
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As we dive deeper into the numbers, it’s clear that December brought notable trends in home pricing. Understanding these shifts can help both buyers and sellers strategize for the start of 2025. Let’s take a closer look at how pricing dynamics played out and what it means for the current market landscape
December Pricing Power Overview:
Homes that are priced right continue to sell at a premium, with those moving in the first 30 days selling at 97% of their original price, compared to 87% for homes on the market for over 150 days. Sellers who overprice are seeing higher concessions and longer time on market, making strategic pricing essential.
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Homes on the market for 60-90 days sold for 91% of their original list price, with concessions averaging $7,682.
Homes on the market for over 150 days sold for 88% of their original list price, with seller concessions averaging $9,018.
The data makes it clear: pricing homes correctly from the start is crucial for sellers to avoid extended days on market and increased concessions. The longer a home sits unsold, the higher the likelihood of price reductions and concessions to close the deal. Sellers should be mindful of these trends, particularly in a market where 53% of active listings are now considered "stale" (on the market for over 60 days), up from 47% in the previous month.
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| Home Prices: Year-Over-Year Trends |
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Now Let's Take a look at what is happening in January 2025!!!!!!!
The new year has started with some key trends shaping the Northeast Florida housing market. While inventory remains elevated compared to last year, stale listings are growing, and pricing power is shifting. Here’s what we’re seeing:
58% of listings are between $200K - $500K, holding steady from last month.
New construction remains strong, accounting for 23% of active listings.
Condos make up 14% of all active listings, unchanged from the previous month.
3,544 active listings are potentially priced “right”—meaning they have a good chance of selling.
60% of active listings are now considered stale (on the market for over 60 days), up from 58% last month.
Homes sitting too long are seeing increased price reductions and concessions, making proper pricing more important than ever.
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As we move further into 2025, the Northeast Florida real estate market continues to evolve. With inventory shifting, stale listings increasing, and mortgage rates still fluctuating, both buyers and sellers have opportunities—but strategy is key.
📌 For buyers: More inventory means more choices, but waiting for lower rates might not pay off if prices continue to hold steady or rise.
📌 For sellers: Homes priced correctly from the start are selling faster and with fewer concessions. If your home has been sitting, now might be the time to adjust pricing or offer incentives to attract buyers.
If you’re thinking about making a move, have questions about the market, or just want to chat real estate over coffee—let’s connect! I’m here to help you navigate the market and make informed, confident decisions.
📩 Reach out anytime! Let’s make 2025 a successful year in real estate!
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