'Nothing's falling off the cliff': A look into Florida's real estate market, slowdown of home sales

Real estate across the Sunshine State for condos and homes is experiencing a slowdown in sales and a drop in prices. This comes after the COVID-19 pandemic powered a desire for Florida housing, pushing prices up and out of reach for some residents. In April, there was a double-digit drop in the pace of condo sales, and in general, it's been dropping since last summer. But conditions are different from the housing crash, which began to see impacts around 2006. [Source: WUSF]

Developers are building the dream — and Florida homeowners are paying the debt

Tens of thousands of Florida homeowners are spending more money each year to pay off bonds tied to independent special districts than in property taxes toward their actual local governments. Real estate developers are turning to these little-known government districts to fund roads, sewers and clubhouses needed to build their Suncoast neighborhoods — leaving homebuyers on the hook for steep annual assessments that then last decades. [Source: Miami Herald]

High prices charged by Florida insurers revealed by cost-per-$1,000 analysis

Collectively, Florida-based property insurers charge significantly higher rates per $1,000 than companies headquartered outside the state charge. Owners of condominium units in Florida pay twice as much per $1,000 to insure their contents than homeowners pay to cover their entire structures and contents. And if you are covered by one of the 17 companies that have helped to depopulate state-owned Citizens Property Insurance Corp., you are paying significantly more per $1,000 of insured value than customers of non-participating insurers. [Source: South Florida Sun-Sentinel]

Florida residents are flocking to this city, study finds. Here’s why

It’s no secret how popular of a destination Florida has become in recent years for many across the nation. But what about those moving within Florida? According to a new study, the No. 1 pick for Floridians relocating within the state is Central Florida’s very own City Beautiful — Orlando. In addition, the study found that the most popular move route within Florida was Miami-to-Orlando. [Source: News 4 Jax]

$2 billion Florida luxury condo project reeling in buyers, developer says

The five-star resort and four luxury condo towers will rise on city-owned Bahia Mar, home of the Fort Lauderdale International Boat Show. The units are selling for $3 million all the way up to $25 million. Developer Jimmy Tate, whose company owns the 100-year lease on Bahia Mar, teamed up with the Related Group to build the project. The hotel and two condo towers, part of the first phase, are expected to break ground in the summer of 2026. [Source: Tampa Bay Times]

STAT OF THE WEEK
15%
Palm Beach County home sales slumped this year and prices stagnated, but a review of the nation’s top 100 housing markets shows South Florida maintained enough activity to buoy prices 15% higher than historic trends. [Source: Palm Beach Post]

ALSO TRENDING:

› Inside Alina: Boca Raton’s new luxury residences aim to meet high-end demand [South Florida Sun-Sentinel]
At an Alina penthouse in Boca Raton, a couple could shower in the same space under two separate shower heads, avoiding the need to share water. Or they could live nearly entirely separate lives with their own rooms, bathrooms and plenty of space in between if they opted to buy one of the Alina residences, which sell for millions. Matthew Jeffries, the CEO of El-Ad National Properties, which is the developer representing Alina, got requests from buyers wishing to customize their units, including moving bathrooms and installing some sort of barrier inside the shower. Even the scents inside the residences have been specifically curated.

› Orlando home prices drop, bucking national trend as these neighborhoods see steep declines [Orlando Business Journal]
Home sale prices are down in the Orlando metro, an uncommon trend in comparison to the national housing market. Of the 40 metros assessed by Homes.com, the year-over-year median home sale price dropped in just 10 — and Orlando was one of those, with a decline of 1.3% from April 2024 to April 2025. By neighborhood, Celebration saw the largest year-over-year drop at -30.2%, followed by MetroWest at -18% and Kissimmee at -16.5%.

› Northeast Florida median home prices rise 0.2% in May [Jacksonville Daily Record]
The median price of a single-family home increased 0.2% in May while the inventory of homes for sale rose 6.6%, according to the Northeast Florida Association of Realtors. NEFAR supplies monthly home sales data for Duval, Baker, Clay, Nassau, Putnam and St. Johns counties. The May median price of $388,995 is down 3.7% from the same month a year ago. The record is $403,000 in May 2024.

› Cape Coral among top U.S. metro areas for May foreclosure rates [Gulfshore Business]
Cape Coral had one of the nation’s highest foreclosure rates in May, with one in every 1,674 housing units facing a foreclosure filing, according to ATTOM’s latest U.S. Foreclosure Market Report. The metro ranked second only to Lakeland among large metro areas. Florida overall had the second-worst state foreclosure rate — one in every 2,536 homes — and 2,780 foreclosure starts in May, behind only Texas.

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Beer Can Island: The ups and downs of owning it