Florida Housing Market Sees Continued Price and Sales Declines as Uncertainty Persists

Florida Housing Market Overview in July 2025

Florida's housing market has continued to reveal sluggish trends, particularly evident in July 2025, where economic uncertainty and rising mortgage rates have led to a decrease in both sales and prices. According to the latest report issued by Florida Realtors®, closed sales of single-family homes dipped by 2.8% compared to the same month last year. The monthly landscape offers a snapshot of the region's performance, as fluctuations and buyer hesitance dominate the current market.

Tim Weisheyer, President of Florida Realtors® for 2025 and a broker-owner at Dream Builders Realty, discussed the market’s resilience, stating that although buyers have various options available, the current climate has prompted a retreat from many buyers and sellers. He emphasized the ongoing demand for Florida’s real estate landscape while underscoring the vital role that real estate agents play in facilitating transactions.

In July, a total of 22,707 existing single-family homes were sold across the state, a decline mirrored by a significant drop of 11.8% in the sales of existing condo-townhouses as compared to July 2024. This pointed to lower buyer activity across diverse property types—even as some signs indicate a slight softening in mortgage interest rates, lingering concerns remain present.

Dr. Brad O’Connor, Chief Economist at Florida Realtors®, noted that while the new pending sales (indicating homes that went under contract) for single-family homes also decreased by 0.7% in July, this decline is less severe than the overall yearly drop recorded, at 2.3%. He attributed this positive note to minor reductions in mortgage rates coupled with stagnant labor market data.

Despite the declines in closed sales, the median sales prices have seen a decrease as well. The statewide median price for single-family homes was reported at $410,000, down 1.7% from a year earlier, indicating a continued trend where half the homes sold were priced above and below this threshold. For condominiums, the median price dropped 6.3% to $295,000.

These price reductions indicate a gradual stabilization. In July, mortgage rates hovered closer to 6.5%, creating a latent demand among potential homebuyers who might be waiting for a better opportunity to enter the market. O’Connor pointed out opportunities for buyers who could secure advantageous negotiation outcomes amidst relatively sufficient inventory levels.

The current supply remains notable as single-family homes represented a supply level of 5.4 months, while condo-townhouse properties experienced a longer supply duration of 9.6 months. This indicates that there still exists surplus inventory, which keep prices from rising significantly.

For all housing climbing the sale charts, the reduction in new listings this year presents a strategic advantage for remaining sellers, pushing them ahead of buyers more than earlier phases of the market.

Florida Realtors® remains committed to offering resources, education and representation for its 238,000 members, serving the needs of the state's real estate market. For anyone active or interested in Florida's real estate scene, visiting the Florida Realtors Newsroom for comprehensive housing activity reports and data insights remains essential.

While the overall picture may seem cautious, those transitioning or looking towards future investments can find opportunities if they understand current market variables. Florida's housing market, despite its fluctuations, continues to hold promise, hinting at brighter prospects ahead.