Home sales are on pace for their weakest year since 1995, with industry forecasts calling for 2025 to finish roughly in line with 2024—which itself marked a three-decade low. The slowdown reflects a mix of high prices, sluggish demand, and a pullback in new listings, all of which contributed to a decline in active inventory in August 2025.
In August 2025, U.S. existing home sales edged down 0.2% from the prior month, reaching a seasonally adjusted annual rate of 4.0 million units.
The median existing-home price rose 2.0% year-over-year to $422,600, marking the 26th consecutive month of annual price gains. By segment, single-family home prices increased 1.9% to $427,800, while condominium and townhome prices rose 0.6% to $366,800.
Housing inventory expanded 11.7% from a year earlier to 1.53 million units, representing a 4.6-month supply at the current sales pace. Homes typically remained on the market for 31 days, compared with 26 days in July 2024.
Individual investors and second-home buyers accounted for 20% of transactions in June, while distressed sales—including foreclosures and short sales—represented just 2% of total activity.
The Florida Housing Market
Florida’s housing market showed continued signs of cooling in August. Closed sales fell 4.5% year-over-year, with both single-family (-3.9%) and condo/townhouse (-6.0%) transactions declining.
Prices remained relatively stable but edged lower, with the statewide median slipping 1.3% to $375,000, marking the seventh straight month of annual declines.
Inventory stood at 24,159 units, up nearly 10% from last year but down sharply from April’s peak of 29,136.
Closed Sales
In August 2025, Florida recorded 30,356 closed home sales, marking a 4.5% decline compared with the same month last year.
Existing single-family home sales fell 3.9% year-over-year, while condominium and townhouse transactions posted a steeper decline of 6.0%, reflecting softer demand across property types.
One bright spot emerged at the high end of the market: sales of homes priced above $1 million increased 5.2%, the first positive gain in six months, suggesting resilient demand among luxury buyers despite broader market headwinds.
Median Sales Prices
Since mid-2023, Florida’s median home prices have remained relatively stable, showing only modest month-to-month fluctuations. In August, however, the statewide median price slipped 1.3% year-over-year to $375,000, marking the seventh consecutive month of annual declines and signaling a gradual cooling in the broader market.
The luxury segment, by contrast, showed little movement, with prices holding flat compared to a year earlier, underscoring a market where high-end demand remains steady even as overall affordability pressures weigh on buyers.
Active Inventory
Active inventory in Florida reached 24,159 units in August, up 9.6% from a year earlier. However, supply has fallen sharply from the recent peak of 29,136 units in April, reflecting a steady pullback in available listings.
With many sellers choosing to remove their homes from the market, August marked the lowest inventory level recorded so far this year, underscoring the impact of rising delistings and seller hesitation.
The South Florida Housing Market
As of August 2025, South Florida’s housing market continued to show signs of cooling, with sales activity slowing and price growth moderating.
Closed sales fell 8.2% year-over-year to 5,762 units, while total dollar volume declined 2.3% to $4.3 billion. The median price across all property types inched up just 1.0% to $490,000, reflecting a market where appreciation has largely flattened.
Meanwhile, inventory surged 19% to 47,575 active listings, highlighting the growing supply pressures that are reshaping market dynamics.
The Greater Orlando Housing Market
In August 2025, Orlando’s housing market showed further signs of cooling.
Existing home sales declined 5.3% year-over-year to 3,229 closed transactions, while total sales volume slipped 4.7% to $1.6 billion. Median prices edged down 2.4% to $400,000, marking a modest pullback after several years of steady gains.
Inventory continued to build, climbing 18% compared with August 2024, as homes spent longer on the market. Yet, new listings fell 13% year-over-year, underscoring a hesitancy among sellers to list their properties even as available supply accumulates.
The Tampa Bay Housing Market
In August 2025, existing-home sales in the Tampa–St. Petersburg–Clearwater MSA declined 8.9% year-over-year to 4,551 units, while total sales volume dropped 8.8% to $2.2 billion.
The median home price across all property types fell 1.3% to $370,000, slipping below the recent peak of $390,000.
Inventory continued to build, with active listings up 15% year-over-year to 21,694 homes.
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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