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Florida's Housing Market Update: January 2025

Florida's housing market kicked off 2025 on a positive note, showing a noteworthy increase in both new listings and overall inventory. According to the latest report from Florida Realtors, January experienced a significant uptick compared to the same month in the previous year.

Tim Weisheyer, the 2025 President of Florida Realtors, shared insights on the current market dynamics. While home sales continue to be influenced by the interplay of mortgage rates, property prices, and median income levels, the recent rise in new listings has provided a much-needed boost. Weisheyer highlighted that this increase opens doors for potential buyers who have remained on the sidelines, waiting for a favorable moment to enter the market.

The data indicates that closed sales of single-family homes across the state numbered 15,384 in January, signaling a 3.6% rise from January 2024. In contrast, the sales for existing condo and townhouse units saw a decline of 3.7%, totaling 5,787. It's essential to note that closed sales reflect transactions that occur 30 to over 90 days after contracts are finalized, hence buyers and sellers should remain informed about the timing of these changes.

The median sales price for existing single-family homes in Florida in January reached $410,000, which marks a modest increase of 1.2% year-over-year. Meanwhile, for condo-townhouse properties, the median price was $312,500, representing a decrease of 2.3% compared to the previous year. These statistics demonstrate the ongoing shifts in the market, highlighting different trends across various property types.

January 2025 saw an influx of over 35,500 single-family homes listed for sale, making it the highest monthly figure observed since July 2022. This remarkable statistic showcases a 15.4% increase in new listings year-over-year. Furthermore, the rise in condo and townhouse listings experienced a more subdued growth rate of 6.7%. However, this still resulted in a record-breaking number of 18,865 new condo and townhouse listings—marking the highest monthly count since tracking began in January 2008.

More than just a number, these increases in listings are indicative of a changing landscape in Florida's real estate market. The state’s inventory levels also reflected this shift, with existing single-family homes seeing an upward trend of 31.3%, and condo-townhouse units rising by 39.3% compared to last January.

Dr. Brad O'Connor, the Chief Economist for Florida Realtors, commented on the revitalized rate of listings. He expressed optimism about the potential future impact on inventory levels as spring approaches. If the current trends persist, we could see sellers who are steadfastly holding out for higher offers beginning to reconsider their positions. Conversely, it's also possible that some sellers might choose to withhold their properties temporarily, which could stabilize inventory growth.

As of last month, the supply of existing single-family homes stood at 5.1 months, while condo-townhouse properties had a more extended supply of 9.1 months. This data points toward a relatively balanced market, allowing buyers more options while giving sellers a clearer picture of their standing.

For more detailed reports on statewide housing activity, interested parties can visit the Florida Realtors Newsroom, where they can access the latest updates and data analyses relevant to market conditions.

Florida Realtors® represents the interests of real estate professionals across the state, serving 238,000 members with vital programs, services, and legislative representation. For comprehensive updates on Florida’s real estate landscape, check out their dedicated newsroom.