Florida Housing Market Shift 2025: What Buyers and Sellers Need to Know
Monday, April 14, 2025
Florida Housing Market Shift 2025: What Buyers and Sellers Need to Know
BOCA RATON REAL ESTATE MARKET WATCHThe Florida housing market is shifting — and if you're not paying attention, it could cost you thousands. More on that in a minute…
Hi everyone, Joe Hillner here with Guaranteed Home Sales, and welcome to this week’s Boca Raton Real Estate Market Watch.
Single-Family Homes: Boca Raton Weekly Update
This past week:
- 85 new listings — a notable increase from the previous week. Price range: $349K to $26.5M
- 44 properties under contract
- 34 properties went pending
- 55 homes sold — an improvement, with prices from $325K to $10.5M
Condos and Townhomes: Boca Raton Weekly Update
- 100 new listings — consistent with recent trends, priced from $135K to $9.3M
- 56 under contract, 38 pending
- 51 closed sales — still soft, ranging $100K to $13M
Statewide Trends: Florida's Market Is Evolving
Florida’s single-family housing market has taken a sharp turn. As of February 2024, active listings have surged 31.6% year-over-year, bringing inventory to a 5.3-month supply.
Why is this important? For years, Florida was deep in seller’s market territory — often with less than 3 months of inventory. A 5.3-month supply signals a more balanced market, where neither buyers nor sellers hold all the power.
Expert Insight
Florida Realtors’ Chief Economist, Dr. Brad O’Connor, explains that more homes have been hitting the market than selling. That’s created greater competition for sellers and more options for buyers.
Negotiation Returns: Why Strategy Now Matters
The era of automatic bidding wars is over. Properties are sitting longer, and sellers are seeing the need for better pricing and preparation. With the spring season approaching, this trend is likely to continue.
Condo and Townhouse Market: A Buyer’s Dream
The condo-townhouse segment has swung even further. Florida now has a 9.7-month supply in this category — clear buyer’s market territory.
- Sales down 13% year-over-year
- Inventory up 36%
- Median price: $315,000 — down 3.1%
This dynamic gives buyers leverage. With ample inventory, sellers are making more concessions on price, repairs, and terms.
Prices Are Holding, Not Crashing
Despite the increased inventory, the sky isn’t falling. In February:
- Median single-family home price: $415,000 — unchanged from last year
- Median condo-townhouse price: $315,000 — down slightly by 3.1%
Demand is helping maintain price stability. Buyers are still entering the market — from retirees to first-time buyers and investors.
This Is a Correction, Not a Collapse
Florida is experiencing a market correction — a shift toward sustainability after years of overheated growth. Balance is returning, and that’s ultimately healthy.
Recent Sales Data: What It Really Means
In February:
- Single-family sales: down 7%
- Condo-townhouse sales: down 13%
These numbers reflect contracts signed in December and January. The upcoming March and April data will show how buyers are reacting to the more balanced market in real time.
The Takeaway for Buyers
You have more leverage now. With increased inventory and fewer bidding wars, this is your chance to negotiate and lock in value. Get pre-approved and don’t hesitate to ask for seller concessions.
The Takeaway for Sellers
The game has changed. Competitive pricing and strong marketing are key. Partner with a local expert who understands how to position your property for success in this evolving market.
Final Thoughts
Florida’s housing market is shifting from chaos to calm. Inventory is up, pricing is stabilizing, and both buyers and sellers are adjusting to this new reality. Stay informed, stay strategic, and you’ll thrive in this next chapter.
FAQs
Is Florida's housing market crashing in 2024?
No. It’s correcting after years of rapid growth. Prices are stabilizing, not collapsing.
What does a 5.3-month supply mean?
It indicates a more balanced market, where buyer and seller power is more equal.
Is it a good time to buy in Florida?
Yes — especially for condos and townhouses. Increased inventory and lower prices offer more options and negotiating power.
Will prices drop further in 2024?
Prices may adjust slightly, but demand remains strong, keeping values relatively stable.
How should sellers respond to this shift?
Be realistic. Price competitively and work with a knowledgeable Realtor to stand out in a more competitive environment.
