Q1 2025 St. Johns Market Update: Buyer's Market Firmly Established
By Inna Moskalyk
Apr 5, 2025
Tags:Market Reports
By Q1 2025, the buyer's market that emerged in late 2024 had become firmly established. With inventory at five-year highs and sellers finally adapting their expectations, Northeast Florida offered the best buying conditions since before the pandemic. Here's your complete Q1 2025 market analysis.
Q1 2025 Market Statistics
The numbers confirmed what buyers had been hoping for: a fundamentally different market than the frenzied years of 2021-2022.
- Sales Volume – Q1 home sales down 7% from Q1 2024-a sign of buyer selectivity, not lack of activity
- St. Johns Inventory – 5.2 months of supply-up 26% from April 2024 and the highest since pre-pandemic
- Duval Inventory – 4.3 months of supply-up 33% from April 2024
- Price Range – Typical sales in the $360,000-$380,000 range
- Competition – Multiple offer situations rare except for exceptional properties with aggressive pricing
Rate Environment: Stability Returns
According to Realtor.com market forecasts, 30-year mortgage rates hovered around 7% in Q1 2025, with 15-year rates at approximately 6.6%.
Many buyers adopted a 'wait for lower rates' strategy, though experienced purchasers recognized that less competition often outweighed rate considerations. Expectations pointed to mid-6% rates by year-end.
Stadium of the Future: Jacksonville's Major Investment
February 2025 marked a significant milestone for Jacksonville: construction began on the EverBank 'Stadium of the Future.' This $1.4 billion project signaled confidence in the region's long-term growth and amenity development.
- Economic Impact – Major construction employment and long-term tourism boost expected
- Rental Recovery – Rent growth returning at approximately 2.4% year-over-year
- Affordability Leader – Jacksonville ranked as a top metro for affordability compared to other coastal cities
Best Buyer Market in 5+ Years
Q1 2025 offered strategic advantages that simply didn't exist in recent memory:
- Leverage – Buyers successfully negotiating concessions on most transactions
- Selection – Highest active listings since pre-pandemic period
- Time – No pressure to make rushed decisions-properties available for proper evaluation
First-time buyers found exceptional opportunities. Learn the process in our guide: How to Buy Your First Home in St. Johns County.
What This Meant for Buyers & Sellers
For Buyers:
Patient buyers who had waited out the frenzy found their moment. With inventory high, competition low, and sellers open to negotiation, Q1 2025 rewarded those who understood that less competition often matters more than interest rate fluctuations.
For Sellers:
The message was clear: adapt or wait. Sellers who priced realistically and offered competitive terms found buyers. Those clinging to 2022 expectations saw their properties languish. Time-to-sell extended significantly for overpriced listings.
Preparing to sell? Read our essential guide: Ready? Set! Sold! for pricing and staging strategies.
Looking Ahead to Spring 2025
Spring traditionally brings increased activity. Would 2025 follow the pattern? Forecasters expected modest 3% price growth for the full year-a healthy, sustainable pace after years of volatility.
The Florida Realtors statewide analysis provided context for how St. Johns County compared to other Florida markets.
Take Advantage of Today's Opportunity
Buyer's markets don't last forever. If you've been waiting for the right conditions, Q1 2025 delivered. Contact me today to explore what's available in your target price range and neighborhoods.