Florida
Housing Market
The landscape of Florida’s housing market evolves with shifting home prices and demand. Houzeo’s housing market report tracks constant changes in supply and demand across Florida. Our report offers real-time insights to help you make informed decisions.
Overview
Supply
Demand
Buy or Sell
Market Insights
MigrationFlorida Housing Market Overview
Florida housing prices show a 1.7% YoY growth as of January 2025. The constant growth in home prices indicates the strength of the housing market. Currently, the median home price in Florida is $410,800. The number of homes sold increased by 7.9% YoY.
You can also check the market competitiveness through median days on the market. Homes in Florida now spend 70 days on the market before going under contract. All these metrics collectively indicate changes in the Florida housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market competitiveness through median days on the market. Homes in Florida now spend 70 days on the market before going under contract. All these metrics collectively indicate changes in the Florida housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You’re a Buyer: You get more negotiation power due to extended median days on the market. Stabilized mortgage rates at around 6.50% make it even better. So, whether you are looking for a condo in Miami or a single-family home in Tampa, you can easily afford your dream Florida home.
- If You’re a Seller: You can still make profits if you sell before prices decline any further. With increased Florida home sales drop, you must be ready to offer concessions to buyers.
Florida Housing Supply
Florida housing supply will grow as new construction expands and mortgage rates stabilize. Experts predict moderate inventory gains in 2025 if interest rates hit 6%. Homes for sale in Florida increased by 22.6% year over year in January 2025. Currently, about 196,605 homes for sale are available in Florida. The Florida market is balanced with 5 to 6 months of supply. Fewer months indicate a seller’s market and more months indicate a buyer’s market.
What Does It Mean for Home Buyers and Sellers?
What Does It Mean for Home Buyers and Sellers?
- If You’re a Buyer: You have an advantage with the increased number of homes for sale. The increasing inventory will potentially meet the demand and stabilize the house prices in Florida. Also, 5-6 months of supply signals a neutral market. It means Florida home buyers won't face extreme competition.
- If You’re a Seller: You need to act fast and sell your home before more supply hits the Florida real estate market. Rising inventory could lower demand and lead to fewer offers from buyers. To attract buyers, focus on staging and marketing your home.
Florida Housing Demand
The percentage of homes selling above the list price is a key indicator of housing demand. When more homes sell for more than the list price, it shows strong buyer competition and high demand. A decline suggests more supply. Tracking this trend helps you gauge market competitiveness.
Almost, 9.9% of homes in Florida sold above the list price in January 2025. Price drops increased slightly from last year with 21.7% of homes with price drops. The 96.4% sale-to-list price suggests fewer bidding wars and more price flexibility for buyers.
What Does It Mean for Home Buyers and Sellers?
Almost, 9.9% of homes in Florida sold above the list price in January 2025. Price drops increased slightly from last year with 21.7% of homes with price drops. The 96.4% sale-to-list price suggests fewer bidding wars and more price flexibility for buyers.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: The current Florida housing market shifts in your favor with better deals. 21.7% of homes with price drops suggest fewer bidding wars and better affordability for Florida home buyers.
- If You're a Seller: You'll need patience as only 9.9% of homes sell above the list price. You will have to wait till spring and summer when housing demand increases. During summer, you may experience high demand and more bidding wars for homes. Right now, the Florida real estate market favors buyers with less demand and more negotiation power.
Is It a Buyer’s or Seller’s Market in Florida?
Strong
Buyer
Buyer
Balanced
Seller
Strong
Seller
Buyer’s Market
Seller’s Market
Buyer: Supply exceeds demand, and homes stay listed on the market for longer, pushing sellers to offer concessions.
Is It a Buyer’s or Seller’s Market in Florida?
As of January 2025, home buyers in Florida hold an advantage due to increased housing inventory and median days on the market. Buyers have more leverage in Florida's real estate market as the total homes for sale has increased by 22.6% YoY. The median days on the market, currently at 70 days, also favor buyers.
The current mortgage rates of 6.4% to 6.8% may reduce buying power. However, an 8.6% rise in new home listings could attract new home buyers in Florida. These trends vary significantly within Florida's diverse real estate markets.
Florida Housing Market Insights
The housing market in Florida is less competitive compared to the nationwide market. Though house prices in Florida are rising constantly, the growth rate is slow. The median home price in Florida ($410,800) is less than the national median price of $427,388. Florida home inventory trends indicate growing options for buyers. Currently, 196,605 homes for sale are available in the Sunshine State.
Housing markets like Miami and Fort Lauderdale have cooled off due to low competition. Homes in such cities spend an average of 90-97 days on the market and sell for about 6% below their list price. However, 2025 Florida real estate predictions suggest continued growth in some regions, as the market adjusts to economic factors. Overall, Florida’s housing market favors home buyers. If you’re buying a property in Florida, you must check for moving expenses and HOA fees as well.
Housing markets like Miami and Fort Lauderdale have cooled off due to low competition. Homes in such cities spend an average of 90-97 days on the market and sell for about 6% below their list price. However, 2025 Florida real estate predictions suggest continued growth in some regions, as the market adjusts to economic factors. Overall, Florida’s housing market favors home buyers. If you’re buying a property in Florida, you must check for moving expenses and HOA fees as well.
Nationwide Migration Trends
Florida attracted significant inbound migration during winter 2024-2025's peak moving season. Over 20,000 residents searched for in-state homes from Nov '24 to Jan '25. Many new homebuyers arrive from New York, California, and Illinois. Low taxes and affordable housing draw families to Florida markets. Cities like Tampa, Orlando, and Jacksonville welcome the most new residents.
This migration pattern reflects the broader cost of living index trends. Florida's index stays 20% lower than major coastal states' average.
This migration pattern reflects the broader cost of living index trends. Florida's index stays 20% lower than major coastal states' average.
Frequently Asked Questions
How have home prices changed in Florida over the past years?
Florida median home prices have continued to rise over the past years, driven by high demand and low inventory. The median house price in Florida has increased at an average growth rate of 1.8%, with some regions seeing double-digit percentage growth. You can check your home’s fair market value with a free home value estimator.
Are home prices dropping in Florida?
No, Florida home prices aren't dropping broadly, but they show varied local trends. Statewide prices rose 1.8% YoY in January 2025. Markets like Tampa and Miami saw significant gains. Experts forecast continued 4% growth in 2025, though increased houses in Florida for sale may moderate prices in overvalued areas.
What’s the average price for a house in Florida?
The average cost of a home in Florida varies depending on location, size, and market conditions. It typically ranges from $300,000 for condos to $450,000 for single-family homes. For a more accurate estimate, consider Houzeo’s housing market overview.
What are the Florida housing market predictions in 2025 and beyond?
The housing market in Florida is expected to stabilize in 2025, with slower price growth and rising mortgage rates. Inventory of Florida houses will increase enough to make the price growth stabilize or slow down.
Is now a good time to buy or sell a home in Florida?
You must check for the current trends in housing prices and inventory in your city. Sellers can benefit from high demand and rising prices. However, if the mortgage rates are stable and months of supply are more than 6 months, that’s the best time to buy a house in Florida.
How does Florida's housing market compare to the national market?
Florida's housing market is outperforming the national market, with stronger price growth and demand due to factors like relocation from other states and favorable tax conditions.
Should I wait for some time before buying houses in Florida?
As a buyer, you can get a fair deal with stable prices and a growing inventory of Florida houses for sale. If you’re buying a house, first make sure to get a mortgage pre-approval. You will also need to budget for a down payment of at least 10%.
How can I list my home for sale in Florida?
You can list your home for sale in Florida on the MLS using flat-fee services. To list your home for sale, you must find a Flat Fee MLS listing company in Florida that can help you save traditional Realtor fees. You can save at least 3% on listing agent commissions with Houzeo.
What is the average mortgage rate for buyers in Florida?
The average mortgage rate for buyers in the Florida real estate market fluctuates between 6% and 8%. Always check your check your credit score and current mortgage rates with lenders when you apply for a mortgage.
When will the housing market crash in Florida?
Florida housing market crash is not expected in 2025. Prices remain 80% above pre-Covid levels with sustained growth projected through 2025. FL real estate market experts predict that home prices in Florida will experience price softening this year.
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