Posted on 07/22/2025 1:16:17 PM PDT by Angelino97
Or a Haiku.
Florida has a history of radical price movement up and down. It has a high percentage of 2nd homes, which are the first to go when money gets tight. I remember a friend’s Dad had a condo there, it went from $125k to $25k right before my friend inherited it.
‘epicenter of housing market weakness’
The condo situation is going to destroy Florida real estate. Many of the condos are going to have to be torn down in the next 5-10 years, if not sooner.
After the collapse of the Surfside condo, many are now found to be suspect.
It’s pretty bad throughout the state. But I think it’s a combination of homeowners insurance, auto insurance, electricity big increase, and other expenses like gas and food. Florida has become extremely expensive to live in the last 10 years. It used to be cheap. Now we’re competition with Maryland and other northern states in prices.
Moving out millions of illegals and no one considered that may affect the housing prices???
And you will be right and many others are not going to be up to code and will be torn down in a few years.
In the 80’s, 90 days on the market was considered a “balanced” market. 30 days was a hot market. Then Colorado had a really hot market in the mid-90’s and sellers were getting 3-5 offers on day one. Most or all would be above the asking price.
Nice anecdotal info on your two sold homes in your neighborhood. Doesn’t mean a thing.
April 2025 Market Snapshot
Florida’s housing market continued to show signs of stabilization. According to Florida Realtors, closed sales of existing condos and townhouses across the state declined 0.7% year-over-year in March 2025, while the median sale price increased by 2.1% to $335,000. Inventory levels rose 38% year-over-year, and the average time to contract lengthened to 48 days. Active listings have returned to pre-pandemic levels, and sellers are increasingly offering concessions. This normalization supports a healthier environment for buyers seeking value and options in a less frenzied marketplace
Looking Ahead: Florida Condo Market Outlook for 2026
By 2026, the Florida condo market is expected to stabilize, provided there are no significant economic shocks or policy changes. Analysts predict that inventory levels will align more closely with demand, and pricing growth may moderate to around 3–5% annually.
Redfin forecasts that the U.S. median home-sale price will increase by 4% in 2025, and Florida is expected to meet or exceed that rate due to sustained population growth and limited new housing supply. Miami’s median home price reached $632,000 in early 2025—a 5.3% increase year-over-year—showing resilience in premium markets.
https://www.naplesed.com/post/florida-s-condo-market-predictions-for-2025-to-2026
I am a lumber broker.
I tend to watch real estate trends that effect housing construction.
My company subscribes to a company that breaks down housing Starts/Permits by regions. I know what regions are growing and what are not.
Gods Waiting Room is overbuilt.
It was a boom market.
It is going to go down.
The question is how much.
This is not 2004 all over again.
However, it is a BAD time to buy there.
There are a lot of people who will not be able to pay the insurance to live there.
It is a good time to buy in West Virginia.
You can buy a nice house with over 50-100 acres for a lot less than ANYWHERE else in the USA.
Estates for 1-2 million that would 2-5X that in other places. Although even WV is now getting scooped up because it was too cheap a couple years ago.
Don't get me wrong. If you can sell it for a profit that's great. You just shouldn't buy a home with investment strategy in mind if it's also your home with the emotional attachment that comes with that. Emotions and investments often fight with each other and the end results can sometimes go in different directions.
Silver was $29.00 in July, 2024. It is $38.00 now. I don’t see it coming down soon.
I have that problem all the time.
Didn’t we just read an article that Florida is a great state for first-time home buyers?
You would have to be an absolute fool to buy a condo in Florida right now.
“You would have to be an absolute fool to buy a condo in Florida right now.”
Why?
Will they be torn down?
Or will older condos be grandfathered in?
Between the crackdown on cartel money laundering through properties and korporate investors having other options, they're selling the properties.
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