Sellers in Sun Belt cities are slashing home prices the most—and the majority of cuts are in Florida
Perhaps unsurprisingly, considering Florida’s cooling housing market, which has been due to a combination of oversupply and plunging demand, cities across the Sunshine State accounted for more than half of the U.S. metros with the most price cuts. Roughly 1 in 3 listed homes in North Port and Tampa came with price cuts in April, followed by Cape Coral, with over 28%, and Jacksonville, with more than 27.5%. [Source: Realtor.com]
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» Florida home prices post biggest decline in at least 13 years
Florida lawmakers pass changes to condo safety rules
Saying they are responding to residents’ concerns about rising costs, the Florida Legislature on Wednesday signed off on proposed changes to condominium safety laws passed after the 2021 collapse of the Champlain Towers South building in Surfside that killed 98 people. The measure (HB 913), approved unanimously by the House and Senate, is now headed to Gov. Ron DeSantis, who has made changing the condo laws one of his top priorities of this year’s legislative session. More from the Tampa Bay Times and NPR.
Move over, Palm Beach. Why Florida’s billionaire set is flocking to Manalapan
If you blink, you might miss it. Just a whisper south of Palm Beach, the tiny seaside town of Manalapan—barely 2.4 square miles and home to fewer than 500 residents—has suddenly become the South Florida destination of choice for the world’s wealthiest home buyers. Always forbiddingly expensive but long overshadowed by its glitzier neighbor to the north, Manalapan is now drawing serious attention—and commanding even more astronomical price tags. [Source: Robb Report]
How can Tampa Bay continue to build with a changing climate in mind?
Over the last five years, Tampa Bay has seen a surge in population growth. And naturally, that uptick has spurred a wave of new development. From Water Street in downtown Tampa to Gasworx in Ybor City and the Historic Gas Plant District in St. Petersburg, more apartments, condos, retail and commercial development is on the way. But as strengthening storms, rising sea levels and other effects of climate change continue to impact Tampa Bay and beyond, how can our community continue to grow in a way that safeguards our future? [Source: Tampa Bay Times]
Central Florida housing market sees neighborhood among nation's hottest
With experts suggesting a shift towards a buyer’s market, three Central Florida neighborhoods are among the hottest. An analysis from The Business Journals using Intercontinental Exchange data shows the hottest housing markets in the nation – the neighborhoods with most momentum in the form of increasing prices, increasing sales or faster sales as of Q1 2025. Central Florida had one neighborhood in the top 10, ZIP code 32836 which represents part of Dr. Phillips and Golden Oak. [Source: Orlando Business Journal]
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Basements are rare in Florida. A 6,200-square-foot basement with an 18-car underground garage reached by a cleverly disguised car elevator? Well … that’s a showstopper. [Source: Orlando Sentinel]
› Age 55-and-older affordable apartment complex opens in North Port
McDowell Housing Partners completed construction of the first phase of Ekos at Arbor Park, a 136-unit affordable apartment community for residents age 55 and older. The $40 million complex at 1320 Citizens Parkway includes 76 one-bedroom and 60-two bedroom apartments available to people making 20% to 70% of the Area Median Income.
› Related Group CEO JP Perez is still bullish on Tampa
JP Perez has big shoes to fill. Last month he took over as CEO of the Related Group, the global real estate firm founded by his father, “condo king” Jorge Perez, more than 40 years ago. Under his father’s purview, Related became the largest affordable housing developer in Florida. It’s built luxury condos, hotels and mixed-use developments from Raleigh, N.C. to São Paulo, Brazil. Related established a foothold in the Tampa market early on.
› Orange Park Mall owners plan to sell the property and other malls
Orange Park Mall could soon be under new ownership. Washington Prime Group plans to sell its entire portfolio of 50 shopping centers, including Orange Park Mall, as it lays off employees at its corporate headquarters. This would be the second mall in Jacksonville to recently undergo a sale after Blackwater Development finalized its purchase of Regency Square Mall earlier this month. The property purge includes 10 malls and shopping centers in Florida.
› Broward restaurant properties face $7 million foreclosure
A trio of restaurant buildings in downtown Davie could be seized in a $7.02 million foreclosure lawsuit. Blue Cane Properties provided the $7.02 million mortgage to Davie Landmark Properties and Highlander Property Management on Jan. 9. It had a one-year maturity and a 15% interest rate, which is higher than a traditional bank would charge. According to the lawsuit, the borrowers failed to make payments on April 1 and owe the full principal, plus interest and fees.