The Florida housing market is undergoing a major shift. Once defined by bidding wars and record-low inventory, the Sunshine State now leads the nation in homes for sale—signaling a firm move into buyer-friendly territory across key metros like Miami, Orlando, Jacksonville, and Tampa.
Inventory is up, prices are softening
New Realtor.com data shows Florida now has more than 167,000 active listings, making up 15% of all U.S. homes for sale—despite only representing 6.7% of the population.
What’s driving the shift?
- Miami: 9.7 months of supply
- Orlando: 7.0 months
- Jacksonville & Tampa: 6.3 months each
In housing terms, anything above 6 months of supply tips the market in favor of buyers.
This surge is stark compared to early 2022, when Florida had just 36,000 active listings. By early 2023, listings had ballooned past 86,000—up 143% year-over-year, the fastest inventory growth in the country at the time.
Why sellers are feeling the pressure
The flood of new listings means homes are sitting longer and price cuts are becoming more common:
- Miami: Homes take 16 days longer to sell; only 17% of listings show price reductions, but delistings are high
- Orlando: 20% increase in listings; nearly 25% have had price cuts
- Jacksonville: Prices have dropped 2.6% to a $399,000 median; 30% of homes have been reduced
- Tampa: Listings up 16%; more than a quarter of homes have seen price drops
Buyers now have leverage to negotiate—something nearly impossible just two years ago.
No crash—just a healthy cooldown
Despite the shift, Florida’s housing market isn’t crashing. It’s recalibrating…