Where Central and North Florida Housing Markets Stand Entering Fall

Jacksonville, FL

Across Florida, Florida Realtors reported that single-family inventory fell 13% year over year in August, as the statewide median sale price increased 1.2% to $415,000. Here’s how Orlando, Jacksonville, Ocala, Gainesville, and the Space Coast are entering fall.

Orlando

Orlando has fewer homes available than it did a year ago. The Orlando Regional REALTOR® Association recorded 12,144 homes for sale in August, down from 13,306 last August. The overall median price was $400,676, compared with $403,222 a year earlier.

Buyers have fewer listings to consider, but prices have barely changed. ORRA also described buyers as increasingly selective in August. Sellers face less inventory competition than they did last year, but the nearly flat median shows that tighter supply has not produced broad price growth.

Jacksonville

Jacksonville’s single-family market saw fewer transactions and modest price growth. According to Florida Realtors, 1,787 single-family homes sold in August, down 3% from a year earlier, and the median price rose 1.3% to $405,000. Condo and townhouse sales increased 5.2%, with the median up 5.8% to $275,000.

Property type is a notable factor for buyers and sellers this fall. Single-family sales were softer and prices only slightly higher. Condos and townhouses posted stronger sales and price growth, so the broader Jacksonville numbers do not describe both segments equally well.

Ocala

Ocala saw stronger single-family sales without a large increase in prices. Florida Realtors reported that August sales increased 6.3% from a year earlier and the median sale price rose 1.1% to $289,000.

Buyers are entering a market where more purchases are being completed without a significant jump in the median price. Sellers saw more transactions than last August, but the modest price increase does not indicate broad appreciation across the market.

Gainesville

Gainesville’s single-family market changed little from a year ago. Florida Realtors reported that August sales were even with last year and the median price increased 0.3% to $352,995. Condo and townhouse sales fell 11.9%, with the median down 3.5% to $178,500.

The difference between property types is especially relevant this fall. Single-family buyers and sellers are looking at a market that is close to last year’s levels. For condos and townhouses, both sales and prices were lower, giving buyers and sellers in that segment a noticeably softer set of recent numbers.

The Space Coast

Brevard County entered fall with fewer single-family sales and less inventory. The Space Coast Association of REALTORS® reported that August sales fell 4.2% from a year earlier, the median price increased 1.7% to $376,018, and supply declined from 4.5 months to 3.5. Condo and townhouse sales increased 10.9%, and supply fell from eight months to 5.8.

Single-family buyers have fewer homes available even though fewer sales closed than last August. Sellers face fewer competing listings, but the lower sales count tempers that advantage. Condo and townhouse activity was stronger, with more completed sales and substantially less supply than a year ago.