- by Lamacchia Realty
march 2025
SOUTH FLORIDA Housing Report
SOUTH FLORIDA
Home Sales Down, Average Price Up
Home sales are down 4.5% year over year, with March 2025 at 6,343 compared to 6,645 last March. Sales are down across all categories.
- Single families: 3,351 (2024) | 3,278 (2025)
- Condos & Townhomes: 3,294 (2024) | 3,065 (2025)
Average sale price increased 3.5% year-over-year, now at $837,613 compared to $809,163 in March 2024. Prices increased across all categories.
- Single families: $1,053,969 (2024) | $1,072,303 (2025)
- Condos & Townhomes: $560,121 (2024) | $586,615 (2025)
Homes Listed For Sale in South Florida:
The number of homes listed is up by 10.7% when compared to March 2024.
- 2025: 12,578
- 2024: 11,361
- 2023: 10,254
Pending Home Sales in South Florida:
The number of homes placed under contract is down by 10.9% when compared to March 2024.
- 2025: 7,147
- 2024: 8,018
- 2023: 9,173
March 2025 Home Data by County
Housing Data for Broward County, Miami-Dade County, Palm Beach County.
Market data provided by SunStats then compared to the prior year.
What's Happening in the South Florida Market?
- In March 2025, national home sales decreased 2.4% compared to a year ago, Following this trend, South Florida saw a decrease in homes sold.
- According to Mortgage News Daily, March mortgage rates ended around 6.7%. In April, there was some fluctuation, dipping down to 6.6% early in the month and now ending around the 6.9% range.
- The South Florida real estate market is feeling more pain as the market continues to slow, particularly with condos. Several factors are making buying and selling more difficult than in other parts of the country, leading to a noticeable rise in price adjustments across the region.
- Condo Sales are down 7% compared to last year, according to the Wall Street Journal. This is due to the rising cost and new regulations that come with owning a Condo in Florida. A lot of buyers are even having trouble getting lenders to finance, due to the uptick in regulations.
As we navigate the adjusting market and the impact it’s having on buying, selling, renting, and homeownership, being informed is one of the first steps in knowing what to do next. Click on the button to visit the South Florida Real Estate Updates page and never hesitate to contact us with questions.
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