Florida’s housing market is showing robust signs of activity, with increased closed and pending sales in November 2025. This surge is attributed to easing mortgage rates and a persistent influx of new residents, driving sustained demand. While prices are showing slight year-over-year declines, the market remains balanced, with experts predicting continued growth through 2030.
Key Takeaways
- November 2025 saw a year-over-year increase in both single-family home sales (3.4%) and condo/townhouse sales (1.6%).
- Pending sales also rose, with single-family homes up 2.7% and condos/townhouses up 5.2% compared to the previous year.
- Statewide median prices saw minor decreases: single-family homes down 0.2% to $410,000, and condos/townhouses down 3.8% to $299,320.
- Florida is projected to add approximately 305,953 new residents annually between 2026 and 2030, fueling housing demand.
- Proposed property tax reforms could potentially increase home values and shift costs.
Sales and Pending Activity Surge
Florida’s housing market experienced a positive uptick in November 2025, with more closed and pending sales compared to the previous year. This trend is largely a response to lower mortgage rates observed during the month. Dr. Brad O’Connor, Chief Economist at Florida Realtors®, noted that pent-up demand is being unlocked, contributing to the market’s stability. Despite a year-over-year comparison being affected by hurricane disruptions in late 2024, the data indicates continued buyer and seller confidence.
Price Stabilization and Inventory Levels
While sales are up, median prices have seen a slight easing. The statewide median sales price for existing single-family homes in November 2025 was $410,000, a marginal 0.2% decrease year-over-year. Condo and townhouse prices experienced a more significant drop of 3.8%, settling at $299,320. Inventory levels have risen, with a 4.9-month supply for single-family homes and a 9.4-month supply for condos and townhouses, suggesting a more balanced market.
Population Growth Fuels Long-Term Demand
The primary driver for Florida’s sustained housing market is its continuous population growth. Projections indicate that Florida will welcome around 305,953 new residents each year from April 2026 to April 2030. This consistent influx of people necessitates new housing, ensuring steady demand for both sales and rentals. This demographic trend positions Florida’s housing market for long-term growth, with opportunities in new construction, move-up purchases, downsizing, and second homes.
Property Tax Reform Considerations
Discussions around property tax reform in Florida could significantly impact the housing market. Proposals to reduce or eliminate local property taxes for homeowners, while intended to lower costs, may paradoxically increase home values. Economists suggest that removing this ownership expense could boost property values by 4-9%. However, concerns remain about how local governments would generate revenue and whether these reforms might shift costs to renters or increase the overall expense of homeownership.
Sources
- Fla.’s Nov. Housing: More Closed, Pending Sales, | Florida Realtors.
- Florida Housing Market Predictions for the Next 5 Years: 2026 to 2030, Norada Real Estate Investments.
- Mix of factors is fueling Florida’s housing market, Spectrum News 13.
- How eliminating property taxes may make Florida housing more expensive, WLRN.
- Florida property tax reform could boost home prices, shift costs to renters, The Business Journals.
