Home prices rise 4% in Northeast Florida as inventory increases

The median price of single-family homes in Northeast Florida rose 4% in February to $389,989, with inventory increasing by 10.7% to 7,954 homes. Closed sales grew by 8.7% to 1,271, while pending sales dropped 16.4%. The Home Affordability Index decreased slightly to 66. County-specific trends showed varied price changes, with Baker and Nassau experiencing declines, while Duval and Putnam saw increases. Additionally, 655 permits for new homes were issued in February, trailing last year's pace.