Number of Homes for Sale in Florida Breaking Records
Category: Retirement Real Estate
March 1, 2025 — It looks like the messages of doom for Florida real estate might actually be starting to come, according to the real estate firm Redfin. The number of homes for sale in Florida hit 172,209 at the end of January (up 22.7%). This is the highest number since 2012.
Experts cite several reasons for the surge in homes available for purchase:
Soaring insurance rates due to unprecedented casualty losses
Higher condo fees as new regulations affect reserve requirements and building inspections
Fear of more extreme weather events
Large numbers of new homes being constructed in the Sunshine State
Redfin said in a report: “Listings are also piling up because homebuyer demand has been cooling; pending home sales in Florida fell 9.3% year over year in January.” Homes are also sitting longer on the market. Last year in Broward County the average listing was on the market for 65 days, now it is 91. While prices might be holding up in the short term, those kinds of numbers do not bode well for home sellers in the long term. Buyers of homes will have more choices.
Comments: Do you agree the Florida market is starting to look oversold right now? If you live there, are you contemplating selling and moving? Let us know in the Comments section below.
Comments on "Number of Homes for Sale in Florida Breaking Records"
Thomas C Adams says:
Oversold? No...dealing with reality of current events.
Toni says:
We have lived in a 55+ community in Fort Myers, FL now for 13 years. Our community is East of I-75 which in terms of hurricanes, storm surge and flooding puts us at a very low risk and we are designated in Flood Zone D for flood/home insurance purposes. Cost of insurance has gone up but seems to be leveling out. In a typical winter season our community of 2500 homes, duplexes and condos has about 100 homes for sale. As of right now it has 114 listed. So, don't feel we are in an "oversold" area. Prices have leveled out after a short surge a couple of years ago but places are still selling....just a bit slower than last season. The areas of FL with the issues you are talking about are the older huge condo complexes with the "reserve" issues and the homes/condos in hard hit hurricane areas. You just can't lump all of Florida into saying the market is oversold.
Admin says:
You are both right. Oversold is too strong a term, and not every market in Florida is the same. Some parts, particularly in central and northern Florida appear to doing just fine.