Jacksonville, Florida, December 16, 2025
In November, home prices in Florida’s First Coast region fell 0.9% year-over-year, with the median sale price reaching $411,105. Sales activity slowed, influenced by high mortgage rates and affordability challenges. Despite a slight rise in average sale prices, the overall market remains subdued. Buyers face limited inventory and increased borrowing costs, while regional variations show stability in other areas like Cape Coral. The outlook suggests ongoing challenges for both buyers and sellers in the coming months.
First Coast Home Prices See Significant Drop in November as Sales Slow
Jacksonville, Florida – Home prices in the First Coast region experienced a notable decline in November 2025, accompanied by a slowdown in sales activity. This trend reflects broader challenges in the Florida real estate market, where affordability issues and elevated mortgage rates continue to impact both buyers and sellers.
Decline in Home Prices and Sales
In November 2025, the median sale price for single-family homes in Florida decreased by 0.9% year-over-year, settling at $411,105. This marks a continuation of the downward trend observed since mid-2024. Additionally, the average sale price rose by 0.7% year-over-year to $605,946, indicating a modest increase despite the overall price decline. The number of closed sales also declined, reflecting a slowdown in market activity.
Factors Influencing the Market
Several factors are contributing to the current market conditions:
- Affordability Challenges: High home prices and elevated mortgage rates have made it difficult for many potential buyers to enter the market, particularly first-time homebuyers.
- Elevated Mortgage Rates: The 30-year mortgage rate is projected to average 6.18% in 2026, maintaining a subdued market environment.
- Inventory Constraints: A shortage of entry-level homes and insufficient new construction have limited housing options, further driving up prices.
Regional Variations
While the First Coast region is experiencing these challenges, other areas in Florida are seeing different trends. For instance, Cape Coral’s median sale price in November 2025 was $384,000, nearly unchanged year-over-year, and up 9.7% from the July 2025 low of $350,000. This indicates a more stable market in that region.
Outlook
Looking ahead, the Florida real estate market is expected to remain subdued. The combination of high home prices, elevated mortgage rates, and limited inventory is likely to continue affecting both buyers and sellers. Potential buyers are advised to stay informed about market trends and consider their financial readiness before making purchasing decisions.
Frequently Asked Questions (FAQ)
What was the median sale price for single-family homes in Florida in November 2025?
The median sale price for single-family homes in Florida in November 2025 was $411,105, a 0.9% decrease year-over-year.
How have mortgage rates affected the Florida real estate market?
Elevated mortgage rates, projected to average 6.18% in 2026, have made it challenging for many potential buyers to enter the market, particularly first-time homebuyers.
Are there regional differences in Florida’s housing market trends?
Yes, while the First Coast region is experiencing a decline in home prices and sales, other areas like Cape Coral have seen more stable or even increasing prices, indicating regional variations in the market.
Key Features of the Florida Real Estate Market in November 2025
| Feature | Details |
|---|---|
| Median Sale Price | $411,105 (0.9% decrease year-over-year) |
| Average Sale Price | $605,946 (0.7% increase year-over-year) |
| 30-Year Mortgage Rate Projection | 6.18% in 2026 |
| Inventory Constraints | Limited entry-level homes and insufficient new construction |
| Regional Variations | Stable market in Cape Coral with a median sale price of $384,000 in November 2025 |
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Author: STAFF HERE JACKSONVILLE WRITER
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