What's Happening in Florida's Housing Market?

The housing market in Florida is always in flux, so what’s the scoop right now?

Currently, the landscape varies significantly from county to county—and even city to city. In 2022, our sunny state had about 35,585 active listings. Fast forward to today, and we’re looking at a whopping 140,000 active listings. Yes, you read that right—a nearly fourfold increase!1

This means we’ve traded in our shortage for a smorgasbord of options, allowing buyers to negotiate like seasoned pros.

Sellers who once sold their homes sight unseen and found themselves in bidding wars during the pandemic may need to adjust their expectations. It turns out, “going once, going twice!” might need a reality check.

One report suggests caution. One report suggests caution. Once again, the July 2024 report by CoreLogic Market Risk Indicator places three Florida metro areas, Palm Bay-Melbourne-Titusville,Deltona-Daytona Beach-Ormond Beach, and Gainsville at “very high” risk of price drops in the next year.2

However, Tampa and its surrounding areas remain a hot commodity. Despite the increase in inventory, demand is still healthy, leading to a more balanced market. So, while buyers have more choices, sellers can still find eager buyers ready to make a deal.