Duval County's median single-family home price held steady at $335,000 in August, but closed sales fell 5.8% to 887, according to data from the Northeast Florida Association of Realtors (NEFAR).

Duval County is the closest data proxy for Beaches-area buyers and sellers. Active inventory in the county stood at 3,057 homes, a 3.4-month supply.

Across the six-county Northeast Florida region, the picture was sharper. The median single-family home price fell 1.6% to $397,420 in August, the second straight monthly decline, according to the Jacksonville Daily Record.

The median price stood at $405,000 in July, a 3.2% drop from June. That reversed five consecutive months of price increases from February through June.

Regional closed sales totaled 1,696 in August, down 10.7% from July. Pending sales slipped 5.5% to 1,788.

Active inventory fell to 6,103 homes from 7,165 in July, but NEFAR said supply "remained elevated across much of the region." The region carried a 3.6-month supply.

NEFAR President Kim Knapp said the added inventory is shifting the dynamic between buyers and sellers. She said buyers now have "greater choice and the ability to be more selective, while sellers may need additional patience and flexibility."

When NEFAR released its July data on Aug. 20, Knapp told Florida Politics the market reflected "a healthier balance for both buyers and sellers."

St. Johns prices drop while Clay, Nassau climb

St. Johns County saw a steeper decline. Its median price dropped 2.7% to $573,250, and closed sales fell 25.5% to 398.

Clay County bucked the trend with a 2.5% price increase to $369,000, though closed sales there fell 11.2% to 239. Nassau County's median price ticked up 0.7% to $456,207, and closed sales jumped 28.1% to 114.

National existing-home sales fall as rates climb

The local numbers tracked a broader national pattern. U.S. existing-home sales fell 2.0% in August to a seasonally adjusted annual rate of 3.98 million, according to the National Association of Realtors. The average 30-year fixed mortgage rate rose to 6.67% in August, up from 6.54% in July, according to Freddie Mac.

National housing inventory hit 4.9 months of supply, the highest level in more than a decade.