Florida Housing Market Update: Rising Inventory and Easing Prices in April 2025

ORLANDO, Fla., May 22, 2025 – According to the latest data from Florida Realtors®, the state’s housing market is experiencing a significant shift with an increase in inventory of for-sale homes and a notable decline in median prices as of April 2025 compared to the previous year.

Key Highlights

• Increased Inventory: For-sale home inventory rose, creating more opportunities for buyers.
• Easing Prices: The median sales price for single-family homes dropped by 4% from last year.
• Declining Closed Sales: Both single-family home and condo-townhouse sales saw year-over-year declines.

A Market in Transition

"Florida’s home buyers and sellers are adjusting to the normalization of the housing market," said Tim Weisheyer, President of Florida Realtors® and broker-owner of Dream Builders Realty. He views the increase in inventory as a positive sign for those aspiring for homeownership.

Buyers and sellers can turn to experienced real estate professionals across Florida to assist with the process amidst this evolving landscape.

Detailed Market Statistics

• Closed Sales:

  • Single-Family Homes: 23,572 sales, down 4.5% from April 2024.
  • Condo-Townhouses: 8,710 sales, down 14.8%.
• Median Sales Prices:
  • Single-Family Homes: $412,734, reflecting a decrease of 4% year-over-year.
  • Condo-Townhouses: $315,000, a 6% decline compared to last year.

Factors Influencing the Market

Dr. Brad O’Connor, Chief Economist at Florida Realtors®, noted that the number of single-family homes listed for sale has only increased by 2.7% compared to last April. “This minimal increase suggests that many homeowners are adapting to new mortgage rate realities,” he explains.

Affordability Concerns: The primary challenge affecting sales growth remains affordability, with rising rates and costs impacting both buyers and sellers alike.

Supply Side Developments

• New Listings:
  • Single-family home listings increased by 2.7%.
  • Condo-townhouse listings decreased by 2%.

Despite these fluctuations, active listings saw enhancements with:

• Single-family Homes: 5.6 months of supply.
• Condo-Townhouses: 10.3 months of supply.

Market Challenges Ahead

“Condos are particularly struggling due to high mortgage rates and rising association fees,” O’Connor noted. He also highlighted that financing options for condos have become more complex, impacting demand.

The Road Ahead

As mortgage rates stabilize, price erosion may continue in most markets around Florida, particularly where new construction is prevalent. However, should rates trend downward toward the 6% range, a resurgence in buyer competition is expected.

Key Takeaway: There remains a latent demand in the housing market, with many potential buyers waiting for better affordability conditions.

Conclusion

For individuals considering buying or selling in Florida, the current market dynamics provide both challenges and opportunities. With an increase in available inventory and a slight easing in median prices, now might be the right time to explore the housing options available in the Sunshine State.

For comprehensive housing reports and insightful updates, visit the Florida Realtors® Newsroom.

Stay informed about the latest trends in Florida’s real estate market to make educated decisions about your housing needs.