Buyers are moving forward in the Florida housing market

Trends across the country point to a more balanced market for single-family homes and a market in favor of buyers in apartments.

Florida's housing market saw continued growth in active listings and signs of price stabilization in February compared to the same period last year, according to data from Florida Realtors®.

“Florida’s land-based housing market appears to be reaching equilibrium as inventory for sale continues to rise, median prices remain relatively flat and mortgage rates moderate,” said Florida Realtors® 2025 President Tim Weishier, Broker-Owner of Dream Builders Realty and dbrCommercial Real Estate Services at dbrCommercial Real Estate Services.

“These trends indicate that market conditions for existing single-family homes are becoming more balanced between sellers and buyers, which should help ease affordability constraints,” added Weishier.

He also noted a contrast in the apartment and townhouse sector.

“On the other hand, ongoing trends in the Florida townhome market, including a 9.7-month inventory supply, show that it is a buyer’s market, at least at the state level,” he said. “With conditions varying by local market, the expertise and knowledge that a local realtor brings to the table is an invaluable resource for consumers.”

According to the Florida Realtors Research Department, in collaboration with local boards and associations of realtors, closed sales of single-family homes statewide totaled 17,698 in February, down 7% from February 2024. Condo and townhome sales fell 13% year-over-year, to 6,503.

The median sales price statewide for existing single-family homes remained steady at $415,000. For townhomes, the median price fell 3.1% to $315,000. The median is the midpoint — half of the homes sell for more, half for less.

“Over the past three years, the number of land-locked homes coming on the market each month has typically exceeded the number of homes being sold or withdrawn from the market each month,” said Florida Realtors Chief Economist Dr. Brad O’Connor.

“This means that the number of active listings for sale as of the end of each month – what we call active inventory – is generally on an upward trend,” he continued. “With new listings still higher than recent levels and sales trending below recent levels, we should expect this trend to continue into the spring buying season here in Florida.”

O'Connor said rising inventory often indicates a change in the market.

“Increased inventory is usually a sign that the advantage in the market is shifting away from sellers and more toward buyers, while months of supply can also be an indicator,” he said.

“For February, we reported a 5.3-month supply of single-family homes, which roughly means that the inventory at the end of February will sell in 5.3 months at the 12-month sales rate,” he explained. “There’s an old rule of thumb that balanced markets that favor neither sellers nor buyers are typically between five and six months of supply.”

He added, “To be honest, the level of supply in months where you will find balance varies between local markets; but at least on a statewide level, single-family home inventory is currently in the 5 to 6 months supply range, indicating that we have moved out of seller’s market territory and into relative balance.”

Inventory levels across the country in February were higher than a year ago: up 31.6% for single-family homes and 36% for townhomes. Supply levels were 5.3 months for single-family homes and 9.7 months for condos and townhomes.

“If you look at the months’ supply of apartments and townhouses, it’s pretty clear that we’re in a buyer’s market, at least at the state level, with a supply of 9.7 months,” O’Connor said.

“Buyers have gained an advantage here, and sellers will increasingly have to give up price if they want to sell their properties,” he added. “Evidence shows that this has happened over the past seven to eight months, including in February, when the median price for this category fell more than 3% compared to a year ago, to $315,000.”