Florida Single Family Homes for Sale | realtor.com® (2024)

FAQs

What is the median price of a single family home in Florida? ›

Florida Housing Market Overview

On average, the number of homes sold was up 3.2% year over year and there were 33,223 homes sold in July this year, up 32,183 homes sold in July last year. The median days on the market was 59 days, up 18 year over year.…

Florida's 5.7 million single family homes make up the largest share of the housing supply. 71% of these homes are homesteaded, indicating that they serve as the owner's primary residence rather than second homes, vacation homes, or rental properties. Florida produced approximately 125,000 single family homes in 2022.

For first-time homebuyers in Florida, understanding credit eligibility is crucial. While a low credit score can be a concern, Florida offers flexibility, allowing you to qualify for a mortgage with a credit score as low as 580, depending on the loan type and lender.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

Nine Florida housing markets, including Miami, are among the most overpriced in the U.S., data from two state universities show. The nine Florida markets were all listed as overvalued by double digits. Of the biggest 100 U.S. metro housing markets considered overvalued, the Miami metro area ranked 11th at 34.7%.

Quick answer: The newest fast-growing real estate markets in Florida are Haines City, Leesburg, Lakeland, and Tampa. Orlando, Sarasota, Cape Coral, Port St. Lucie, and Ocala continue their strong growth.

Is it a buyer's or seller's market in Florida? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.4%, making the average house payment $2,943, which is $107 higher than a year before.

Winter is Peak Selling Season

Depending on the type of home you are selling, Florida's prime season for selling homes is often believed to be during the winter months, specifically from December to February. Mild temperatures and the influx of snowbirds make this an ideal time to list your property.

Blackstone Group is by far the biggest buyer of single family houses with an estimated $2.5 billion totaling up to 16,000 single-family houses and they are currently in Atlanta GA, Chicago IL, Las Vegas NV, Phoenix AZ, and Inland Empire, LA, Sacremento Valley, Bay Area, Central Valley California, Miami Orlando and ...

What is the largest single-family home in Florida? ›

Versailles is a 90,000-square-foot (8,400 m²) house belonging to Westgate Resorts founder David Siegel and his wife Jackie. It is under construction at 6121 Kirkstone Lane, Windermere, Florida, in the gated community of Lake Butler Sound in Orange County, Florida, United States.

Is it a Good Time to Buy or Sell in Florida? The Florida real estate market continues to appreciate; therefore, even with higher mortgage rates, buying now could prove to be a worthwhile investment. The median sale price is predicted to continue rising between the strong demand and low inventory.

According to BankRate's report, you do need to make a six-figure income (around $114,771 a year) to buy a home in Florida in 2024.

A minimum credit score of 620 is usually the requirement for most mortgages (but varies by loan type).

What is the average cost of living in Florida? According to the Bureau of Economic Analysis, the average cost of living per year in Florida is around $50,689 per person. The cost of living in Florida per month equates to approximately $4,224 per person.

Average Housing Costs in Florida: $1,137 to $1,981 per month

Florida has nearly 10 million housing units, according to the 2021 census, so there's an array of housing options throughout the state.

The Supreme Court of Florida has declared “just value” to be legally synonymous to “full cash value” and “fair market value.” The fair market value of your property is the amount for which it could sell on the open market.