Clay County's median home price climbed 2.5% to $369,000 in August, according to the Northeast Florida Association of Realtors (NEFAR). The increase came as the number of homes for sale continued to grow.

Sales Volume Drops as Inventory Grows

The county recorded 239 closed sales during the month, an 11.2% drop from July's 259, the Jacksonville Daily Record reported Sept. 11. Active inventory stood at 960 homes, giving Clay County a four-month supply of available properties, according to NEFAR data reported by News4Jax.

Orange Park and Fleming Island sit within that county market. A four-month supply falls between the seller-favoring conditions of recent years and the six-month mark economists consider balanced. Homes spent a median of 32 days on the market before going under contract.

Buyers Gain Leverage in Shifting Market

NEFAR President Kim Knapp said the shift is giving buyers room to breathe.

"Buyers have greater choice and the ability to be more selective, while sellers may need additional patience and flexibility," Knapp said.

Prices Rose Steadily Over Summer Months

The trend has been building. In July, Clay County's median price was $360,000 with 259 closings, Florida Politics reported. In June, the median was $368,140 with 317 sales, according to NEFAR data reported by Florida Politics.

The August price of $369,000 marks the highest of the three months, but the 239 closings represent the lowest sales volume in that stretch.

Clay County Ranks Most Affordable Countywide

Clay County also earned a distinction in the August report: the most affordable county in the six-county Northeast Florida region. Its Home Affordability Index registered 87, above the regional average of 84. An index of 100 means a family earning the median income can afford a median-priced home at current interest rates.

NEFAR noted it changed how the index is calculated. The formula now uses the median family income for the county where a listing is located, rather than the Jacksonville metro-wide median. That change means the August figure is not directly comparable to earlier months.

Regional Market Cools Across Six Counties

By comparison, St. Johns County posted a median price of $573,250 in August, more than $200,000 above Clay County, with an affordability index of 78.5. Across the full six-county region, the median price fell 1.6% to $397,420, and total closed sales dropped 10.7% from July to 1,696.

Knapp said market conditions varied by county, neighborhood and price point. Sellers who prepare their homes and price them to match the property's condition are better positioned in the current market, she said.

Clay County had 246 pending sales and 322 new listings in August, a sign that buyer activity continued even as closings slowed.