Florida Real Estate - FL Homes For Sale | BEX Realty (2024)

FAQs

Is there a shortage of homes for sale in Florida? ›

Despite a US housing shortage, Florida and Texas have too much supply, Redfin found. The states accelerated construction to take advantage of pandemic-era demand. But many are now priced out, while Florida's rising insurance costs are pushing down demand.

Spring and summer are the best times to sell your house fast - and the best time to get the highest price for your home. Specifically, houses sell for the most in June, followed by May.

The Ramsey Solutions research shows that housing prices in Florida have gone up, especially when comparing the fourth quarters of 2022 and 2023, respectively. At the end of 2022, the median sales price of a Florida home was $401,990. One year later, it was $410,000 — a 2% increase.

Florida's housing market is expected to remain strong in 2023 and 2024, with continued demand for homes and steady price growth. However, the market is likely to stabilize as the growth rate slows down, which may lead to more balanced conditions between 2026-2027.

The Florida housing market is is not a buyer's market, it's considered a seller's market. Homes in Florida stayed on the market for 55 days in May 2024, slower than 42 days a year prior.

It is important to stay updated on the changing South Florida home sales market. Despite strong job growth and increased migration, there has been an unexpected decrease in home sales. This presents a unique opportunity for both buyers and sellers to make the most of the situation.

Real estate experts predict a continued housing shortage, and because they expect high buyer demand to keep pushing home prices up, 2024 may be an ideal time to sell. Experts also anticipate a leveling out of 2023's elevated mortgage rates, expecting rates to eventually settle around 6% – 7% in the spring.

Typically, winter time is the slowest of the year to sell a property, specifically November, December, and January. However, there are some exceptions because there are several conditions that affect the housing market.

The real estate market in Florida is hot right now, making it an exciting but challenging time to buy a home. Prices are going up, and there are lots of bidding wars. But Florida is still a great place to live because of its tropical feel, no state income tax, and many things to do.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

Is Florida housing overpriced? ›

Nine Florida housing markets, including Miami, are among the most overpriced in the U.S., data from two state universities show.

People are flocking to the 'Sunshine State,' driving up the price of real estate in many popular towns. Once a relatively affordable place to enjoy abundant sunshine and warm temperatures year-round, property values have risen significantly in recent years.

Analysts project 11.5% earnings growth and 5.5% revenue growth for S&P 500 companies in 2024. Fortunately, analysts see positive earnings and revenue growth for all eleven market sectors this year.

According to the latest Redfin data, the number of homes for sale in Florida has surged after homebuilders rushed to accommodate newcomers. There are more than 5,600 active listings in Florida that include the keyword "motivated" in the description on Zillow.

State of Florida Real Estate

This period in the post-pandemic economy may be the best time for real estate investing in Florida. From 2020 to 2021, the Florida real estate market was booming until it started slowing down in 2022. The data indicates a 29.9% decrease in home sales and a 21.7% decline in home listings.

With Florida's affordable housing situation still at crisis levels, local officials, state lawmakers, researchers and other groups are looking to come up with new ideas, from changing zoning to lowering minimum lot sizes for developers.

The real estate market in Florida is hot right now, making it an exciting but challenging time to buy a home. Prices are going up, and there are lots of bidding wars. But Florida is still a great place to live because of its tropical feel, no state income tax, and many things to do.

This combination of increased housing supply for sale—the damaged homes, combined with strained demand, the resulting spiked home prices, spiked mortgage rates, higher insurance premiums, and higher HOAs—has translated into market softening across much of Southwest Florida.

Overpricing: Buyers are deterred by homes that are priced too high for the market. Lack of Curb Appeal: First impressions matter, and if the exterior of the house is unappealing, buyers may not even consider looking inside.