Are Florida home values falling? Here's what the latest numbers show
A pair of recent national reports have singled out Florida as the poster child for "falling home values" while another reported the state had the most foreclosures in the nation last year. The Florida Realtors association on March 16 released new statewide home sales numbers that paint a different picture of the state's real estate market. Closed sales of existing single-family homes in Florida rose to 18,379 in February, up 3.9% from the same month last year. The median sale price held steady at $412,000, down just 0.7% from a year ago, while the average sale price rose to $639,288, up 1.7% from last year. [Source: Sarasota Herald-Tribune]
Why eco-friendly design is the new luxury in Florida real estate
Luxury in real estate has traditionally been defined by prime location, exceptional design, premium materials, exclusive amenities, privacy, security, high market value and lifestyle prestige. In its conventional expression, luxury emphasizes comfort, status and exclusivity. But do these features truly reflect the meaning of luxury, especially in a complex, high-risk environment such as the state of Florida? In an environment where climate risks are visible and quantifiable, durability, adaptability and resilience under stress are emerging as the true markers of modern luxury. [Source: The Invading Sea]
Florida property tax debate continues after session ends
Florida legislators ended their session without a bill to end all homestead property taxes, a policy that has been promoted by Gov. Ron DeSantis consistently over the past year. But that doesn't mean the matter is closed. Lawmakers in Tallahassee will reconvene on April 20 already to finish two other pieces of major business: passing the state budget and drawing a new congressional map. If lawmakers want to get property tax elimination on the November ballot, they will need to pass a bill by May. [Source: Florida Today]
Florida Policy Project rolls out speaker lineup for the Florida Housing Solutions Summit
Florida’s housing affordability crisis will take center stage at The James Museum in St. Petersburg this April as policymakers, advocates and industry leaders convene for the Florida Housing Solutions Summit. The Florida Policy Project — a nonprofit founded by former Pinellas County Republican Sen. Jeff Brandes — has announced a lineup of experts set to tackle one of the state’s most pressing issues: access to attainable housing. [Source: Florida Politics]
How a Florida man used ChatGPT to sell his home for $100K more
A Florida CEO sold his home for nearly $1 million after using ChatGPT to handle pricing, marketing, and negotiations — walking away with $100,000 more than real estate agents said the property was worth. The process was not fully autonomous. Levine had to actively prompt the AI at each step, retained a lawyer for the legal aspects, and relied on human help for tasks the technology could not perform, such as hosting open houses. His story is part of a growing wave of Americans turning to artificial intelligence (AI) to solve real financial problems. More from Newsweek and Fortune.
$22 million
A Key West, Florida, mansion has sold for $22 million, making it the most expensive home to sell in both the continental U.S.’s southernmost city and in the Lower Keys. [Source: Mansion Global]
› Inside the Palm Beach bubble: Why this elite market is defying Florida’s slowdown
It has been a gloomy year for property in the Sunshine State, but even in straitened times Florida’s most rarefied enclave sparkles. Palm Beach is showing remarkable resilience to wider market trends, and while there has certainly been a slowdown since the height of Covid-19, prices and transaction numbers continue to rise as well-heeled buyers continue to gravitate towards the lifestyle, safety and low-tax regime to be found there.
› Jacksonville ranks among nation's leaders in homeowners becoming 'accidental landlords' as rental market shifts
A growing number of Jacksonville homeowners are turning into landlords by circumstance rather than choice, adding supply to a rental market that is already giving tenants more room to negotiate. Jacksonville ranks among the nation’s leaders in so-called accidental landlords, with 3.3% of homes listed for rent having recently been listed for sale, according to a new report from Zillow.
› Experts say Southwest Florida housing market correction underway
As Southwest Florida’s real estate market recalibrates after peaking in 2022, three industry experts told a packed audience that the region’s current downturn is far from a crash. About 1,300 real estate and development professionals filled the Caloosa Sound Convention Center in downtown Fort Myers earlier this month to hear Justin Thibaut, Denny Grimes and Matt Simmons present their 2026 Market Trends outlook under the theme Data over Drama.
› Home sales are up in Miami-Dade. Check the trends for condos and prices
Home sales were up in Miami-Dade in February compared to the previous year, marking a sixth consecutive month of an upward trend in the county. Total home sales were up by nearly 10% compared to last February, according to data from the Miami Association of Realtors. Single-family sales were up more than 4%, and existing condo sales were up nearly 15%. The data showed sales were up at both the luxury and affordable ends of the market.