In 2001, almost every home sold in Northeast Florida went for under $200,000. Nearly eight in ten, to be exact. We pulled 598,569 realMLS closings back to 2001 and sorted them by price band to see how that changed, and the picture is stark. Today about one in eight sales is under $200,000. The entry level home has nearly disappeared, and the whole market has repriced up a full tier.
Here is what 25 years of closings actually show, and what it means if you are buying, selling, or advising in this market.
The numbers
Across the seven county realMLS footprint of Duval, St. Johns, Clay, Nassau, Putnam, Baker, and Bradford, the share of homes selling under $200,000 fell from 79.7 percent in 2001 to 12.4 percent so far in 2026. The under $300,000 share, which was close to the entire market in 2001 at 91.4 percent, is down to about a third at 34.7 percent.
The top of the market moved the other way. Sales of $600,000 and up went from 1.7 percent in 2001 to 19.3 percent today. Nearly one in five closings now clears $600,000, up from fewer than one in fifty. The middle filled in behind it. Homes between $300,000 and $600,000 went from 6.9 percent of sales to 46 percent, and are now the largest single band on the chart.
The typical closing price tells the same story in one number. It rose from about $123,000 in 2001 to about $360,000 in 2026, roughly a tripling in nominal dollars.
Affordability briefly came back, then left
The 2008 crash is visible in the data as a real pause. Cheaper homes briefly made up about three quarters of sales again around 2011, at 74.3 percent under $200,000, as values fell and distressed inventory moved through the market. Then the 2020 to 2022 run wiped that out and pushed the whole distribution up a full tier in roughly three years. By 2024 the under $200,000 share had dropped to 11.4 percent and it has held near there since.
How much of this is just inflation
A fair amount, and it is worth being honest about it. About $200,000 in 2001 is worth roughly $360,000 today once you account for general inflation, so part of the disappearance is the currency rather than the house. But not all of it. Prices in Northeast Florida rose faster than overall inflation, which is why the working middle of this market landed in the $300,000 to $600,000 band instead of holding near the old entry level. The starter home did not go out of style. It got priced past.
What it means
For buyers, a true starter home under $200,000 is now rare and usually means an older or smaller property, a condo or townhome, or a location further from the coast. Expect competition for the little that trades there, and plan around the reality that the middle of this market is now $300,000 to $600,000.
For sellers, a home in the under $300,000 range is one of the scarcer things on the market and draws the widest buyer pool, including first time and cash buyers. That scarcity is a pricing argument, not a reason to discount.
For agents, the old first time buyer script built around a sub $200,000 house does not match the data anymore. The entry point has moved to condos, townhomes, outer counties, or a larger budget, and the buyer conversation has to start there.
People also ask
How much has the Northeast Florida starter home shrunk as a share of sales?
The share of closings under $200,000 fell from 79.7 percent in 2001 to about 12.4 percent so far in 2026, based on 598,569 realMLS closings across seven Northeast Florida counties. The under $300,000 share fell from 91.4 percent to about 34.7 percent over the same period.
Is the disappearance of cheap homes just inflation?
Partly. About $200,000 in 2001 is worth roughly $360,000 today after general inflation, so some of the shift is the dollar. But Northeast Florida prices rose faster than inflation, which is why the middle of the market settled in the $300,000 to $600,000 band rather than near the old entry level.
What is the typical Northeast Florida home price now versus 2001?
The typical closing price rose from about $123,000 in 2001 to about $360,000 in 2026, roughly a tripling in nominal dollars, according to Momentum Research analysis of realMLS closings.
Market takeaway
This is what a 25 year repricing looks like from the ground. The same kinds of homes crossed the $200,000 line, then the $300,000 line, and the bands filled up from the bottom. Some of that is the dollar and some is real price growth that outran inflation, but either way the entry level home has mostly priced out, and the clearest gap in the chart is attainable supply under $300,000. This is context, not investment advice, and every price band carries its own local detail. Figures are from realMLS and are deemed reliable but not guaranteed.
Momentum Research, from realMLS closing data. Equal Housing Opportunity.
This article was compiled with the help of automated tools from realMLS closing records and may contain errors. Information is deemed reliable but not guaranteed. It is for general information only and is not financial, investment, legal, or tax advice. Verify all facts independently before relying on them. Source: Momentum Research analysis of 598,569 realMLS closings, 2001 to 2026 (2026 year to date), across Duval, St. Johns, Clay, Nassau, Putnam, Baker, and Bradford counties.