32220, FL Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is it a good time to sell real estate in Florida? ›

Best Time to Sell Your House for a Higher Price

April, May, and June are the best months to sell a home in Florida. In June 2023, the median sale price was $409,600, and it's expected to increase in 2024.

“Florida's economy has been growing steadily over the past few years, with low unemployment rates and a strong job market,” Locklear said. “This means that there is a high demand for housing, making it a good time to invest in real estate.

How competitive is the market? In July 2024, 11.4% of homes in Florida sold above list price, down 5.1 points year. There were only 32.1% of homes that had price drops, up from 25.0% of homes in July last year. There was a 96.8% sale-to-list price, down 0.74 points year over year. …

Benefits include high appreciation rates, strong rental demand, no state income tax, and relatively low property taxes. Additionally, Florida's diverse economy supports long-term investment stability. These factors collectively enhance the potential for profitable real estate investments.

January and February Are Poor Home Sales Months

January is the worst month for selling a home if you want to sell quickly. After the expenses of holiday travel, gifts, parties, and more, people simply aren't looking to buy a home. Waiting until February won't improve your chances, however.

Is it a buyer's or seller's market in Florida? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.4%, making the average house payment $2,958, which is $126 higher than a year before.

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.

The 5.7% increase in the national median price of existing homes to $384,500 from February 2023 to April 2024 signals a continuing upward trend in home prices. This steady rise in prices suggests that buying sooner rather than later could be advantageous, as waiting might lead to higher costs as the trend continues.

Nine Florida housing markets, including Miami, are among the most overpriced in the U.S., data from two state universities show. The nine Florida markets were all listed as overvalued by double digits. Of the biggest 100 U.S. metro housing markets considered overvalued, the Miami metro area ranked 11th at 34.7%.

Miami ranks no. 1 in annual home price appreciation in the U.S., according to the Miami Association of Realtors, citing real estate data. Sales of condominiums worth $1 million and up, total home transactions and single-family home sales in Miami-Dade County increased year-over-year in July 2024.

Are house prices dropping in Florida? ›

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.

What is the average cost of living in Florida? According to the Bureau of Economic Analysis, the average cost of living per year in Florida is around $50,689 per person. The cost of living in Florida per month equates to approximately $4,224 per person.

Is it a Good Time to Buy or Sell in Florida? The Florida real estate market continues to appreciate; therefore, even with higher mortgage rates, buying now could prove to be a worthwhile investment. The median sale price is predicted to continue rising between the strong demand and low inventory.

Jacksonville represents an undervalued powerhouse within the Florida real estate market. It offers a unique combination of urban and coastal lifestyles, diverse employment prospects, and a housing market that remains relatively affordable, presenting a prime opportunity for investment.

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.

The Florida housing market in 2024 is expected to be more stable than previous years. Home price growth is predicted to slow down to around 3.4%, but prices are still expected to go up.

Key Takeaways: Should I Become a Real Estate Agent in Florida? June 2024 data shows that real estate agents in Florida are optimistic about the market. Real estate agents who offer top-tier services and transparent fees should continue to do well regardless of the recent developments with the NAR.

Even as Florida remains among the most overpriced housing markets in the country after the boom experienced during the COVID-19 pandemic, especially in cities like Cape Coral and Miami, a recent surge in inventory has allowed buyers to push prices down in parts of the state.