Florida Housing Market Update April 2025: Inventory Rises, Prices Ease Amid High Mortgage Rates
Florida’s housing market showed promising signs of increased inventory and easing home prices in April 2025 compared to the previous year. However, high mortgage rates continue to impact affordability and sales activity across the Sunshine State. This comprehensive update from Florida Realtors® offers valuable insights into current market trends, price movements, and buyer demand statewide.
Florida’s Housing Market Sees More For-Sale Homes and Price Adjustments
In April 2025, Florida reported a higher number of active listings for both single-family homes and condo-townhouse properties. The market also experienced year-over-year declines in median sale prices, marking a shift from the rapid price increases seen in recent years.
“Florida’s home buyers and sellers are continuing to adjust to the normalization of the state’s housing market, a welcome sign for those who have been waiting for more inventory and a cooling off of the incredibly hot market we have had over the past few years,” said Tim Weisheyer, 2025 Florida Realtors President.
Key April 2025 Housing Market Facts:
- Median Sale Price Drop: The statewide median price for single-family existing homes fell 4% year-over-year to $412,734—the most significant decline since 2011.
- Condo-Townhouse Prices: The median price for condo-townhouse units dropped 6% to $315,000 compared to last April.
- Inventory Levels: Active listings increased, with single-family home supply at 5.6 months and condo-townhouse supply at a substantial 10.3 months.
- Closed Sales: Existing single-family home sales totaled 23,572 in April, down 4.5% year-over-year; condo-townhouse sales decreased 14.8% to 8,710 units.
Mortgage Rates Remain a Critical Factor in Market Dynamics
High mortgage rates continue to be the primary challenge limiting housing affordability and sales growth. Dr. Brad O’Connor, Chief Economist for Florida Realtors, stresses that mortgage rates hovering above current levels are the main reason for slower sales activity and price corrections:
“Affordability continues to be the No. 1 issue impeding sales growth around the state.”
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Impact of Mortgage Rates on Market Activity:
- Sales Decline: Closed sales of single-family homes are down nearly 3% year-to-date.
- Buyer Hesitation: Many prospective buyers remain "on the sidelines," waiting for mortgage rates to decline.
- Seller Behavior: Homeowners who hoped mortgage rates would fall before listing their properties are now adjusting expectations and entering the market despite rates staying elevated.
Forecast for Mortgage Rate Improvements:
Dr. O’Connor highlights the impact of a potential drop in mortgage rates:
“If mortgage rates start trending closer to 6%, we would expect more buyer competition and less price erosion.”
Regional Insights: Opportunities from Panhandle to the Florida Keys
Florida Realtors emphasize the growing opportunities statewide due to higher inventory and more reasonable pricing:
- Increased Choices for Buyers: More homes to choose from create better pathways to homeownership.
- Local Expertise: Consumers throughout Florida can utilize experienced Realtors® for guidance navigating the complex process of buying or selling.
Condo Market Challenges and Trends
The condo and townhouse segment continues to face unique hurdles that differentiate it from single-family home dynamics:
- Higher Association Fees: Rising fees are connected to new reserve requirements, affecting affordability.
- Financing Difficulties: Condos are seeing tighter financing conditions compared to single-family homes.
- Strong Supply: At 10.3 months, condo-townhouse inventory significantly exceeds single-family supply, contributing to slower sales.
Summary of Florida Real Estate Market Statistics – April 2025
| Metric | April 2025 | Year-over-Year Change |
|---|---|---|
| Single-Family Homes Median Price | $412,734 | -4% |
| Condo-Townhouse Median Price | $315,000 | -6% |
| Single-Family Homes Closed Sales | 23,572 | -4.5% |
| Condo-Townhouse Closed Sales | 8,710 | -14.8% |
| Single-Family Homes New Listings | Up 2.7% | N/A |
| Condo-Townhouse New Listings | Down 2% | N/A |
| Single-Family Homes Inventory Supply | 5.6 months | N/A |
| Condo-Townhouse Inventory Supply | 10.3 months | N/A |
Stay Informed About Florida Housing Trends
For those interested in the latest and detailed statewide housing statistics, visit the official Florida Realtors Newsroom and explore the April 2025 market data reports.
Final Thoughts
Florida’s real estate landscape is gradually shifting toward a more balanced market as inventory builds and prices ease from peak levels. Although current mortgage rates still hinder some buyers, a potential decline to around 6% could reignite market activity and improve affordability significantly. Whether you’re buying or selling, working with knowledgeable local Realtors® remains crucial to navigating these evolving conditions with confidence.
Explore more about Florida’s housing market:
Stay up-to-date with Florida real estate trends to make informed decisions in 2025.