In March 2025, U.S. existing home sales fell 5.9% to a seasonally adjusted annual rate of 4.02 million units, the slowest March pace since 2009. Sales declined across all four major regions.
The median existing-home price rose 2.7% year-over-year to $403,700, marking 21 consecutive months of annual gains.
Inventory grew 19.8% from the previous year to 1.11 million units, equivalent to a 4.0-month supply at the current sales pace. Homes averaged 36 days on the market, up from 33 days in March 2024.
Individual investors and second-home buyers comprised 16% of February home sales, while foreclosures and short sales accounted for just 3%.
The Florida Housing Market
As of March 2025, Florida recorded 32,935 property transactions, a rise from 25,320 in February but a 3.8% year-over-year decline.
Existing single-family home sales dropped 1.3% year-over-year, while condominium and townhome sales fell more sharply by 9.8%. Despite these declines, the median sale price stabilized at $380,000, down 2.3% from March 2024.
Active inventory surged 34.1% year-over-year, surpassing 200,000 units for the first time since 2012.
Florida Realtors Chief Economist Dr. Brad O’Connor said “While closed sales of Florida single-family homes were down year-over-year for the second consecutive month in March, it was only by 1.3%. That’s a big improvement over February’s more than 7% decline. What’s more, the number of single-family homes that went under contract in March was actually up year-over-year by over a half of a percent.”
Closed Sales
In March 2025, Florida’s closed sales transactions fell 3.8% year-over-year to 32,935, a significant increase from 22,137 in January 2025.
Closed sales of homes priced over $1 million dropped 5.6% year-over-year, signaling weakness in the luxury home market.
Median Sales Prices
Since mid-2024, Florida’s median home prices have stabilized. In March 2025, the median price fell 2.3% year-over-year to $380,000, below the June 2024 peak of $393,990.
The median sale price for homes over $1 million remained unchanged in March 2025.
Active Inventory
Active inventory in Florida across all property types continued its upward trend in March, rising 34.1% year-over-year to 200,687 units.
Specifically, single-family home inventory grew by 32.7%, while townhomes and condominiums saw a more significant increase of 35.2%.
The South Florida Housing Market
In March 2025, South Florida’s housing market saw modest median sale price growth but a continued slowdown in transaction volume.
Closed sales fell 4.6% year-over-year to 6,384 units, with the total value of homes sold dropping 1.3% to $5.3 billion.
The median home price across all categories remained stable, rising 0.8% year-over-year to $510,000.
Inventory levels continued to climb, increasing 38% year-over-year to 51,292 units, a level not seen since 2019.
The Greater Orlando Housing Market
In March 2025, Orlando’s existing home sales dropped 3.4% year-over-year to 3,439 closed transactions, with the total sales value falling 1.8% to $1.7 billion.
The median home price across all property types remained stable, rising 0.5% year-over-year to $405,000, just below the all-time high of $415,000.
Inventory of existing homes for sale surged 44% year-over-year, while new listings increased 11% from the previous year.
The Tampa Bay Housing Market
n March 2025, existing-home sales in the Tampa–St. Petersburg–Clearwater MSA edged down 0.1% year-over-year to 5,067 units, with the total sales value falling 4.8% to $2.3 billion.
The median home price across all property types held steady at $369,970, below the recent peak of $390,000.
Active inventory rose 33% year-over-year to 21,464 homes, while new listings grew 12% to 8,013 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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