32225, FL Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is this a good time to sell a house 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 has 9 of the most overpriced housing markets. Here's where and by how much. 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.

The state's favorable tax policies and appealing lifestyle are vital drivers, ensuring a constant flow of new inhabitants. Data from Florida Realtors indicates that closed sales across the state increased by 4.6% year-over-year as of April 2024, highlighting the ongoing demand.

Can I sell my house without a Realtor legally in Florida? Yes — there's no legal requirement to hire a real estate agent to sell your home in Florida. However, agents can provide valuable expertise that could save you both time and money, so it's worth considering.

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.

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 $2,943, which is $107 higher than a year before.

Average Home Prices: The median home price in Florida is $419,200. But, it is expected to decrease due to a rise in inventory in the latter half of 2024. The sale-to-list price ratio is 96.90%, dropping by 0.53 pt YoY.

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.

Florida Housing Market Overview

In July 2024, home prices in Florida were up 1.3% compared to last year, selling for a median price. On average, the number of homes sold was up 3.2% year over year and there were 33,223 homes sold in July this year, up 32,183 homes sold in July last year.

Winter is Peak Selling Season

Depending on the type of home you are selling, Florida's prime season for selling homes is often believed to be during the winter months, specifically from December to February. Mild temperatures and the influx of snowbirds make this an ideal time to list your property.

Should I buy a home in Florida right now? ›

Yes! Florida's real estate market has been humming for years, and even now there are plenty of people who are looking to live in the sunshine state. Of course you can sell your house own your own, sell with help from a realtor, or sell to cash buyers.

Winter is typically a slower time for the housing market, and limited inventory may be available. Homeowners may decide to wait until the spring or summer to list their homes, leading to fewer options for potential buyers.

According to Florida law, a buyer or seller is able to terminate a residential real estate contract and walk away from the deal without penalty by seeking rescission. Rescinding a real estate contract means the contract is considered to have no force and effect from the beginning or that the contract is canceled.

Unlike some states, Florida does not require that sellers involve a lawyer in the house-selling transaction. Nevertheless, you might decide to engage a lawyer at some point—for example, to review the final contract or to assist with closing details.

From the buyer's perspective, all offers must be submitted in writing. “Sellers' agents have a legal obligation to present offers in a timely manner,” says Meredith Caruso, Associate General Counsel for Florida Realtors®. After that, it can be a waiting game to see how a seller will respond.

A housing market crash in Florida is unlikely. Florida home prices have been up by about 80% over the past 5 years. Analysts predict this positive trend will continue over the next 5 years.

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 influential Mortgage Bankers Association is forecasting that mortgage rates will hit 6.1% by the end of 2024. This creates a more favorable climate for real estate transactions. Prospective rate drops encourage more buyer activity in the market, getting buyers off the fence and actively planning a purchase.

Florida Housing Market Conditions

The current real estate market conditions in Florida are becoming favorable for home buyers. Here's how: Lower Mortgage Rates: The interest rates for home loans have decreased to 7.01%, marking a decline from approximately 8% in the preceding year of 2023.