According to housing website Zillow, home values have declined in more than half of U.S. states this year, with Florida, Colorado, California, and Washington experiencing the steepest drops.
Despite these regional downturns, the national median existing-home price rose by 1.8% year-over-year in April 2025, reaching $406,600 and marking the 22nd consecutive month of annual price gains.
Existing home sales fell 2.0% year-over-year to a seasonally adjusted annual rate of 4.0 million units, while inventory climbed 20.8% compared to one year ago.
“Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” according to NAR Chief Economist Lawrence Yun. “Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand.”
At the current sales pace, unsold inventory represents a 4.4-month supply, up from 4.0 months in March and 3.5 months in April 2024. Homes spent an average of 29 days on the market, compared to 26 days a year earlier.
Individual investors and second-home buyers made up 15% of April sales, while foreclosures and short sales accounted for just 2%.
The Florida Housing Market
Florida’s housing market saw an increase in the number of active listings and a slight easing of median home prices in April compared to the previous year, according to the latest data from Florida Realtors.
As of April 2025, Florida recorded 33,861 property transactions, a rise from 32,935 in March but a 7.2% year-over-year decline.
Existing single-family home sales dropped 4.5% year-over-year, while condominium and townhome sales fell more sharply by 14.8%. Despite these declines, the median sale price declined to $379,860, down 2.3% from April 2024.
Active inventory surged 34.2% year-over-year, growing by more than four times from the pandemic low in 2022.
Florida Realtors Chief Economist Dr. Brad O’Connor said “As long as mortgage rates stay about where they are now, we should continue to expect some price erosion in most markets around the state – particularly in those markets where there’s still a lot of competition from new construction”.
Closed Sales
In April 2025, Florida recorded 33,861 closed sales transactions—a 7.2% decrease compared to the previous year, but a notable rise from 22,137 sales in January 2025.
Sales of homes priced above $1 million fell 14.6% year-over-year, highlighting ongoing softness in the luxury market.
Median Sales Prices
Since mid-2024, Florida’s median home prices have stabilized. In April 2025, the median price fell slightly (2.8%) to $379,860. Since early 2022, values have continued to remain in the $360,000 to $395,000 range.
The median sale price for homes over $1 million increased by 3%.
Active Inventory
Active inventory in Florida across all property types continued its upward trend in April, rising 34.2% year-over-year to 204,275 units.
Specifically, single-family home inventory grew by 33.3%, while townhomes and condominiums saw a more significant increase of 34.3%.
The South Florida Housing Market
In April 2025, South Florida’s housing market experienced modest growth in median sale prices alongside a continued decline in transaction volume.
Closed sales dropped 14% year-over-year to 6,462 units, while the total value of homes sold decreased 6.1% to $5.7 billion.
The median home price across all property types remained resilient, rising 4.0% year-over-year to $520,000.
Inventory levels surged 38% from a year ago, reaching 52,003 units — the highest level since 2019.
The Greater Orlando Housing Market
In April 2025, Orlando’s existing home sales dropped 5.3% year-over-year to 3,465 closed transactions, with the total sales value falling 4.8% to $1.7 billion.
The median home price across all property types remained stable at $405,000, below the all-time high of $415,000.
Inventory of existing homes for sale continue to surge, up 42% year-over-year, while new listings increased 5.7% from the previous year.
The Tampa Bay Housing Market
As of April 2025, existing-home sales in the Tampa–St. Petersburg–Clearwater MSA declined 6.3% year-over-year to 5,080 units, with total sales value dropping 12% to $2.3 billion.
The median home price across all property types edged down to $369,000, below the recent peak of $390,000.
Active inventory surged 34% year-over-year to 22,678 homes, while new listings increased 6.6% to 7,916 units.
Do you have a property to sell?
If you have a property that you need to sell, now is the time to call Quantum Realty Advisors, Inc. for a free, 30-minute consultation to discuss your immediate needs and how we can help to address them.
On behalf of our clients and strategic partners, we have successfully sell over hundreds of residential and commercial properties in most major markets nationwide.
Our team has an extensive network of highly experienced partner brokers who can assist with all the local requirements, and we will personally be there for you every step of the way.
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