Florida Housing Market Sees First Sales Increase in Over a Year

August 2025 | By Jamie Lucena, REALTOR® – Coldwell Banker Realty

After months of sluggish sales, Florida’s housing market is showing signs of life. According to the latest data from Florida Realtors®, single-family home sales increased 2.8% year-over-year in June. This marks the first such rise since January.

While it’s too early to declare a full-blown recovery, this slight shift could suggest that buyers are beginning to adjust to the current market conditions. 

💸 Are Falling Prices a Factor?

Possibly. The median sale price for a single-family home in Florida in June was $412,000, down 3.5% from last year. However, this is still up a whopping 46% from 2020.

This small dip in prices may have helped entice buyers who’ve been sitting on the sidelines, hoping for better affordability.

🏡 What’s Fueling the Momentum?

Florida saw an unprecedented housing boom during the pandemic as remote work and tax incentives lured homebuyers from across the country. But like the rest of the U.S., the state couldn’t keep up with demand, which sent prices skyrocketing.

More recently, the market has cooled. Rising interest rates, return-to-office orders, and buyer fatigue have slowed activity. These changes have led many sellers to drop their asking prices, especially in competitive markets like Tampa.

Despite the slowdown, Florida still leads the nation in new home construction. A growing number of buyers seem to be re-entering the market with adjusted expectations.

💭 A Shift in Buyer Mindset

Tim Weisheyer, 2025 president of Florida Realtors®, notes that many potential buyers were waiting for ultra-low mortgage rates to return. They are now realizing that today’s 6–7% rates are closer to the long-term average.

In his words:

“Home prices haven’t dropped significantly, their rent payments aren’t building equity, and the cost of waiting keeps going up. So, the question becomes: if not now, when?”

This shift in mindset appears to be nudging more buyers into action, especially those who see the value in owning rather than renting.

🔮 What This Means for the Florida Market

While this rise in sales is encouraging, most experts agree it's too soon to call it a turnaround. Instead, they believe it could be the start of a gradual adjustment as buyers adapt to a “new normal.”

And although some areas have seen price reductions, don’t expect prices to tumble much further. The U.S. remains millions of homes short of meeting buyer demand, which continues to support current price levels.

📌 Final Thoughts

Whether you’re buying, selling, or just keeping an eye on the market, understanding these trends can help you make informed decisions.

If you’re thinking about making a move or have questions about your local market, I’d love to help.
📞 Call or text me anytime: (386) 999-1148
📧 Email: jamie.lucena@cbrealty.com
🌐 Visit: www.jamielucena.com