Florida Real Estate Market Update: Summer 2025 – A Market Leaning Toward Buyers

Over the last year and a half, Florida’s housing market has shifted noticeably in favor of buyers. What was once an ultra-competitive, seller-dominated market has eased into a much more balanced environment, and in many areas—especially condos and townhomes—it’s tipping squarely into buyer’s market territory.

Statewide Trends

Pending Sales on the Rise

Encouragingly, pending contracts ticked up this past August, with single-family homes showing nearly a 10% increase year-over-year and condos/townhomes up about 5%. This renewed activity is partly tied to a small dip in mortgage rates, which has drawn some buyers off the sidelines.

Closed Sales Still Down

Even with stronger contract activity, closings remain lower than last year. In August, single-family closed sales dropped nearly 4%, while condos/townhomes were down around 6%. This reflects the slower pace of today’s market—buyers have more choices, take longer to decide, and negotiate harder before a deal actually closes.

Pricing Softness

Statewide median prices have flattened or dipped slightly. Single-family homes held relatively steady at a median of about $410,000, but condos/townhomes slid more noticeably, down to a $290,000 median (a 6.5% decline). This trend echoes what’s happening locally in Sarasota and Manatee, where condos and townhomes show the most buyer leverage.

Inventory Growth = Buyer Power

The big driver of this shift has been inventory. Florida now sits at more than 5 months of supply for single-family homes and over 9 months for condos/townhomes. Anything over 6 months is typically considered a buyer’s market, which means buyers have more room to negotiate, ask for concessions, and take their time.

What This Means

• For Buyers: You’re in a stronger position than you’ve been in years. More inventory, longer days on market, and softening prices—especially in condos—mean you have negotiating power and time to make thoughtful decisions.
• For Sellers: Pricing correctly is everything. Overpricing will almost guarantee your property lingers. Today’s buyers are patient, well-informed, and far less likely to chase an inflated asking price.
• For Investors: This is a moment to watch. Condo markets in particular are showing cracks where good deals can be made, especially with cash.

The Bottom Line

Florida’s real estate market has spent the last 18 months slowly tilting toward buyers. Single-family homes are holding their ground better, but condos and townhomes are where the shift is most pronounced. For sellers, the key is realistic expectations and strong strategy. For buyers, the opportunities are real—if you know where and how to look.

Gerry Tomchinsky
Realtor® | KW Suncoast
Phone: 941-577-5184
Email: gerrytomchinsky@kw.com
Google Reviews: https://g.co/kgs/5LK6kV9
Website: www.gerrysellssarasota.com