Florida’s real estate market is booming, with houses for sale in every corner of the Sunshine State. From beachfront properties to suburban havens, the options are endless for potential homebuyers.

At Global Florida Realty, we’re excited to guide you through the diverse landscape of Florida’s housing market. Whether you’re looking for a permanent residence, a vacation home, or an investment property, we’ll help you navigate the unique opportunities and considerations that come with buying a house in Florida.

What’s Happening in Florida’s Real Estate Market?

Florida’s real estate market in 2024 presents a dynamic landscape with opportunities and challenges for home buyers. The Sunshine State continues to attract new residents, which drives demand across various regions.

Market Dynamics and Inventory

As of November 2024, Florida’s housing market shows signs of increased activity. Home sales have risen to their highest level in over 18 months, which indicates renewed buyer interest. However, the number of homes sold dropped compared to the previous year. This shift has led to a more balanced market, with an increase in the average months of supply compared to last year.

The housing supply has seen a significant boost, giving buyers more options and potentially more negotiating power. However, newly listed homes decreased slightly, totaling 41,097 new listings in November 2024.

Price Trends and Regional Hotspots

Florida’s median home price stands at $407,600 as of November 2024, reflecting a 0.8% increase from the previous year. This slower price growth may benefit buyers who found themselves priced out in recent years.

Some areas experience rapid price growth. Lauderhill tops the list with a staggering 73.5% year-over-year increase. Other hot markets include:

• Coconut Creek (37.5% growth)
• Pembroke Pines (36.9%)
• New Smyrna Beach (33.9%)

These areas may offer potential for appreciation but require careful consideration of affordability.

Popular Areas for Home Buyers

While traditional hotspots like Miami and Orlando remain popular, we observe increased interest in suburban and rural areas. This shift stems partly from the rise of remote work, which allows buyers to prioritize space and affordability over proximity to urban centers.

Cities like Tampa, Jacksonville, and Gainesville gain traction among buyers seeking a balance of urban amenities and more affordable housing options. Coastal areas continue to attract those looking for vacation homes or investment properties, with cities like Sarasota and Destin seeing steady demand.

Market Outlook and Buyer Strategies

Redfin projects an increase in home sales for 2025, driven by pent-up demand. They expect existing home sales to end 2025 at an annualized rate of between 4.1 million and 4.4 million.

For those ready to buy, it’s important to act decisively. Homes spend a median of 69 days on the market (up 24 days from last year). This gives buyers more time to make decisions, but popular properties in desirable areas still move quickly.

We recommend getting pre-approved for a mortgage early in your home search. This step strengthens your position as a serious buyer and helps you understand your budget in this evolving market.

Navigating Market Complexities

The Florida real estate market’s complexities require local expertise. Factors like flood zones, hurricane preparedness, and varying property tax rates across counties can significantly impact your home buying decision. Working with experienced professionals (like those at Global Florida Realty) who understand these nuances is key to making an informed purchase in Florida’s diverse real estate landscape.

As we move forward, let’s explore the various types of houses available in Florida’s real estate market, from cozy condos to spacious single-family homes.

Types of Houses Available in Florida’s Real Estate Market

Florida’s real estate market offers a diverse array of housing options to suit various lifestyles and investment goals. From beachfront condos to sprawling suburban homes, the Sunshine State has something for everyone.

Single-Family Homes: The American Dream in Florida

Single-family homes remain a popular choice for many Florida buyers. These standalone properties offer privacy, space, and the freedom to customize. At the end of October 2024, the median single-family Florida home price was $415K, representing a 1% increase year-over-year change.

Many single-family homes in Florida feature outdoor living spaces, perfect for enjoying the state’s warm climate. Pools are common, with about 33% of Florida homes having one (as reported by the U.S. Census Bureau). When you search for a house, consider factors like lot size, neighborhood amenities, and proximity to schools or beaches.

Condominiums and Townhouses: Low-Maintenance Living

For those who seek a more low-maintenance lifestyle, condominiums and townhouses are excellent options. These properties often come with shared amenities like pools, fitness centers, and security services.

Condo living is particularly popular in coastal areas and urban centers. When you consider a condo purchase, pay close attention to HOA fees, building rules, and reserve funds for maintenance. Some buildings restrict short-term rentals, which could impact your plans if you want to use the property as a vacation rental.

Vacation Homes and Investment Properties: Capitalizing on Tourism

Florida’s thriving tourism industry makes vacation homes and investment properties attractive options. Popular destinations like Orlando, with its proximity to theme parks, offer strong potential for short-term rentals. With an average gross yield of 5.48%, Orlando’s short-term rental market offers a competitive return on investment for property owners.

When you consider an investment property, look at factors like location, rental regulations, and potential return on investment. Coastal properties often command higher prices but can offer strong rental income. For example, a beachfront condo in Destin might cost more upfront but could yield higher nightly rates during peak tourist seasons.

New Construction Homes: Modern Living in Florida

The Florida real estate market also features a robust selection of new construction homes. These properties offer the latest in design trends, energy efficiency, and smart home technology. New communities often include amenities like clubhouses, fitness centers, and walking trails.

When you buy a new construction home, you have the opportunity to customize finishes and layouts to your preferences. However, it’s important to research the builder’s reputation and understand the timeline for completion. New construction can be an excellent option for those who want a move-in ready home with modern features.

As you explore these diverse housing options in Florida, it’s essential to consider how each type aligns with your lifestyle, budget, and long-term goals. The next section will guide you through key factors to consider when buying a house in Florida, helping you make an informed decision in this dynamic real estate market.

What You Should Know Before Buying a Florida Home

Location: The Foundation of Your Decision

The importance of location in Florida real estate cannot be overstated. Beyond the allure of beachfront properties, practical aspects of your chosen neighborhood will impact your daily life and property value. Proximity to schools, hospitals, and shopping centers plays a significant role in your quality of life.

Sarasota County, known for its top-rated schools, commands higher prices with a median home price of $450,000. This reflects the premium placed on education quality. In contrast, areas like Port Richey offer more affordable options (average home price: $234,988) but may have fewer amenities.

Traffic patterns also influence property desirability. A home near major highways might seem convenient, but consider noise levels and potential future road expansions. Visit properties at different times of day to experience true neighborhood dynamics.

The True Cost of Florida Living

Florida’s reputation for low taxes tells only part of the story. While the state has no income tax, property taxes vary widely between counties. St. Lucie County has one of the highest property tax rates at about 22.8542 mills, while other counties offer lower rates.

Insurance costs in Florida can be substantial, particularly in coastal areas prone to hurricanes. Flood insurance is often necessary, not just recommended. The average cost of flood insurance in Florida is $723 annually, but rates can increase dramatically in high-risk zones.

Homeowners insurance in Florida averages $1,951 per year (significantly higher than the national average). This cost can spike for coastal properties or homes in hurricane-prone areas.

Climate Considerations and Storm Preparedness

Florida’s climate offers abundant sunshine but also presents challenges for homeowners. Hurricane preparedness is essential, not just advisable.

When evaluating a property, look for hurricane-resistant features such as:

• Impact windows
• Reinforced roofs
• Elevated foundations in flood-prone areas

These features provide safety and can lead to insurance discounts. Homes built after 2002 in Florida must have hurricane straps, which reduce wind damage. For older homes, factor in the cost of potential upgrades to meet current hurricane resistance standards.

Climate change impacts Florida real estate, with sea level rise as a growing concern (particularly in low-lying coastal areas). Research flood maps and projected sea level changes before purchasing. A property that seems like a bargain now could face significant challenges in the future.

Navigating Florida’s Real Estate Market

To navigate Florida’s complex real estate landscape, work with experienced professionals who understand local nuances. Global Florida Realty offers nearly 30 years of expertise in Florida real estate, providing comprehensive services for buying, selling, and investing.

Their team specializes in desirable areas like Orlando and assists with locating personal homes and investment properties, including vacation rentals near attractions like Disney. They combine market knowledge with personalized service to make real estate transactions seamless and efficient.

Final Thoughts

Florida’s real estate market offers diverse opportunities for homebuyers and investors. The current market dynamics, with increased inventory and stabilizing prices, create a favorable environment to explore houses for sale in Florida. Location remains paramount, influencing lifestyle and long-term investment value.

Consider the unique factors that shape Florida’s property market, including property taxes, insurance costs, and climate considerations. These elements can vary significantly across different regions and impact your decision-making process. Hurricane preparedness should also factor into your property evaluation.

Global Florida Realty can assist you with expertise in the Florida real estate market. Their services cover buying, selling, and investing, with a focus on areas like Orlando. The team combines market knowledge with personalized service to help you find your ideal Florida home (including vacation rentals near popular attractions).