Florida housing market sees new high number of homes listed for sale
Florida recently saw the highest number of homes listed for sale in the past 13 years, with more than 172,000 homes available on the market, a new analysis shows. January ended with 172,209 homes for sale, the highest number of any month in records dating to 2012, according to real estate brokerage firm Redfin. That’s up 22.7% from a year earlier. More from the Tampa Bay Times and the South Florida Sun-Sentinel.
Tales from the Florida condo crisis: Homeowners describe hardships after cost hikes
Many Florida condo owners are angry about cost increases they didn’t expect and how those increases are eroding their buying power. Many are frustrated by decisions of their management companies and governing boards, and want proof that their funds are being spent correctly. Relief could come soon, however, as legislators debate bills aimed at easing the burden in the upcoming legislative session that begins March 4. [Source: Orlando Sentinel]
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» Florida’s Surfside law helps developers as condo owners face spiking fees and foreclosures
Popularity of 'going naked' surges in Florida home insurance market
The number of Florida homeowners who say they would take their chances without property insurance has risen dramatically over the last two years. A poll by the University of North Florida’s Public Opinion Research Lab found that 22% of respondents said they would “go naked” if given the chance and, of the group who currently own homes in the state, 8% said they already do not have property insurance. [Source: Tampa Bay Business Journal]
Florida single-family homes median sales price is $410,000
The sales price for single-family homes in Florida increased compared to last year. In a new report by Florida Realtors, the median sales price for those types of homes in January was $410,000. The report broke down the values in 22 metropolitan areas in Florida. South Florida, which included Miami, Fort Lauderdale and West Palm Beach, had the second-highest median price of $650,000. Naples-Immokalee-Marco Island topped the list with a median price of $925,000, while Homosassa Springs was the lowest with a price of $282,995. [Source: NBC Miami]
Florida senior citizens struggle as housing costs outpace Social Security
Struggles with high housing costs are increasingly common for seniors in Florida, where property values are surging, incomes are stagnating and the opportunities for affordable homes are scant. Many seniors rely on Social Security as their sole retirement income, as do about 40% of older Americans. But Social Security has lost 20% of its buying power since 2010. More from the Tampa Bay Times and the Orlando Sentinel.
54%
The Treasure Coast real estate market in January saw a massive 54% increase in the number of new single-family home listings, leading to the largest single-month increase of new home listings in years for Martin and St. Lucie counties. [Source: TC Palm]
› Citizens Property Insurance has 'great news' - its business is decreasing
Last year was a record-breaking year for shrinking the size of Florida’s insurer of last resort, according to a report that Citizens Property Insurance Corp. committee heard Wednesday, Feb. 26. And that's great news, they were told. Created in 2002, Citizens is not a business the state hopes to grow. In fact, decreasing the number of policies the state-backed insurer carries has long been a goal in order to reduce the state’s exposure to losses in a disaster.
› What's behind the craze of cash home buyers in South Florida?
If you’ve been looking on the South Florida market for some time you are probably no stranger to the ‘cash buyers’ sale’. It’s a person who purchases a home without the help of a loan. A new report by Redfin shows that in 2024, 32.6% of homes were purchased with cash, its lowest level since 2021, while the number of homes sold for cash fell to 700,455, the lowest in a decade.
› High inventory, insurance costs drive up Orlando homebuyer cancellations
Nearly one in five homebuyers cancel their purchase in the Orlando metro, according to a new report which cites the Sunshine State’s high supply of homes and propensity for natural disasters as major causes. The report from Seattle real estate brokerage firm Redfin shows the Orlando metro saw 18.2% of home sales fall through in January 2025, the second-highest rate in the nation.
› Sarasota Housing Authority secures funding from Lee County agency
On the agenda for the Sarasota County Commission’s Feb. 25 meeting was a public hearing of resolutions relating to approving the use of tax exempt loans to the Sarasota Housing Authority of $25 million to finance Amaryllis Park Place III and $27 million for Lofts on Lemon II. The lender is a rather unusual source: the Housing Finance Authority of Lee County.