April Housing Market Trends in Florida: Increased Inventory and Lower Prices

Florida's April Housing Market Insights

In April 2025, Florida's housing market exhibited significant changes as reported by Florida Realtors. Notably, the state saw an upsurge in the inventory of homes available for sale and a decrease in median prices. This shift reflects a substantial adjustment in the market ecosystem that both buyers and sellers will likely find encouraging.

Increased Inventory

According to reports, there was a 2.7% increase in listings of single-family homes compared to April 2024. This points towards a normalization in Florida's heated housing market that has characterized recent years. With an expanded selection of homes on the market, people eager to buy their own homes now have more options to choose from.

Tim Weisheyer, the President of Florida Realtors for 2025, emphasized this shift, stating, "More for-sale inventory creates increased opportunities for homeownership." This is indeed a welcome development for many prospective buyers who have faced challenges in previous years.

Price Adjustments

The median sales price of existing single-family homes fell to $412,734, which indicates a 4% decrease from the previous year. Similarly, the median price for condo-townhouse units also witnessed a decline to $315,000, marking a 6% drop in the same timeframe. Historically, median prices reflect the midpoint of sales; thus, fluctuations here suggest varied levels of demand and buyer behaviors.

Economist Dr. Brad O'Connor noted that these price adjustments are largely due to continuing high mortgage rates, which have put a strain on affordability. "Affordability remains the top issue holding back sales growth across the state," he stated, shedding light on the barriers that first-time homebuyers may be facing.

Sales Activity Declines

Despite the uptick in listings, closed sales of single-family homes decreased year-over-year by 4.5%, with a total of 23,572 transactions. Additionally, sales of condo-townhouses saw a larger decline of 14.8%, totaling 8,710 sales. The lag in closed sales can be attributed to various factors, including the time necessary to close deals post-contract signing—it can often take between 30 to 90 days.

On the supply side, the increase in inventory gives rise to mixed opportunities for buyers and sellers alike. The availability of options could narrow the competition among buyers, potentially leading to further price erosion in some markets. Dr. O’Connor cautioned that this trend might persist as long as mortgage rates remain at current levels, but these dynamics could shift if rates drop closer to 6%, thereby boosting competition.

Challenges for Condominiums

The condo-townhouse market presents its own set of challenges. High insurance costs and mortgage rates have particularly affected this segment. Condos are increasingly subject to rising association fees as regulations change, which further complicates financing options. O'Connor pointed out that these combined pressures are diminishing demand in the condo market, similar to the effects seen in the single-family home market.

Conclusion

In conclusion, Florida's housing market is adjusting to evolving conditions. Increased inventory combined with declining prices creates new opportunities for buyers and raises questions about market competitiveness going forward. With many potential buyers waiting for improved affordability, the upcoming months will be crucial for the state's real estate landscape. As advised, anyone considering entering the housing market should consult experienced local Realtors who can offer valuable insights and assistance.

For comprehensive housing reports and more information, visit the Florida Realtors® newsroom.