Fla.'s Housing Market: New Listings, Inventory Rise in January

ORLANDO, Fla., Feb. 21, 2025 /PRNewswire/ -- Florida's housing market started 2025 with more new listings and increased inventory (active listings) in January compared to a year ago, according to Florida Realtors®' latest housing data.

"Overall, home sales are still being affected by the combination of mortgage rates, home prices and median incomes," said 2025 Florida Realtors^® President Tim Weisheyer, broker-owner, Dream Builders Realty and dbrCommercial Real Estate Services in Central Florida. "However, the prior constraints on inventory continue to ease as the increase in new listings and increased for-sale inventory across the state offer more opportunities for many homebuyers who have been waiting on the sidelines.

"To understand their local market conditions, buyers – and sellers – can turn to a local Realtor^® for expert guidance and peace of mind."

Closed sales of single-family homes statewide last month totaled 15,384, up 3.6% from the January 2024 level, while existing condo-townhouse sales totaled 5,787, down 3.7% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

In January, the statewide median sales price for single-family existing homes was $410,000, up 1.2% from the previous year; for condo-townhouse units, it was $312,500, down 2.3% compared to January 2024. The median is the midpoint; half the homes sold for more, half for less.

"The arrival of a new year usual brings with it a revival in the rate of homes being listed for sale, and that was certainly the case this January.," said Florida Realtors Chief Economist Dr. Brad O'Connor. "Over 35,500 single-family homes were listed for sale in Florida in January, which is the most we've seen in any month since July 2022. The closest we got last year was in April, when we had roughly 34,300 new listings. On a year-over-year basis, new listings of single-family homes were up 15.4%.

"Year-over-year growth in new listings of condos and townhouses was a little more muted in January, coming in at 6.7%. But this belies the fact that these 18,865 new listings broke the record for the most condo and townhouse new listings we've ever had in a single month – at least as far back as January 2008 when we started tracking them.

Statewide inventory in January was higher than a year ago for both existing single-family homes, increasing by 31.3%, and for condo-townhouse units, up 39.3%.

O'Connor noted, "With growth in new listings continuing to outpace sales, inventory levels were up again in January. We'll want to watch inventory levels as we traverse the spring buying season to see if they keep rising. If they do, then perhaps some sellers holding out for higher offers will see their resolve weaken enough to let their homes go. At the same time, though, some sellers may just decide to de-list their properties for the time being, which would be a moderating factor in inventory growth."

The supply of single-family existing homes was at a 5.1-months' supply while existing condo-townhouse properties were at a 9.1-months' supply last month.

To see the full statewide housing activity reports, go to the Florida Realtors Newsroom and look under Latest Releases or download the January 2025 data report PDFs under Market Data.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to 238,000 members in 50 boards/associations. Florida Realtors® Newsroom website is available at http://floridarealtors.org/newsroom.

SOURCE Florida Realtors