Florida's Housing Market: Biggest Discounts in the Nation

by Jim Armstrong

Thinking of buying a home in sunny Florida? You might be in luck! Coastal Florida is currently seeing the biggest discounts off asking prices in the entire country.

Cities like West Palm Beach, Fort Lauderdale, and Miami are leading the charge, with homes typically selling for around 5% below the listed price. That's the largest discount among the 50 most populous metro areas in the U.S. Not far behind are Tampa and Jacksonville, where buyers are snagging homes for approximately 4% less than asking.

And here's another interesting trend: these discounts are even bigger than they were a year ago. What's driving this shift in the Florida housing market?

One major factor is the increasing frequency and intensity of natural disasters. These events are causing some potential buyers to reconsider their Florida dream. The impact of climate change is also being felt in rising home insurance costs, HOA fees, and property taxes, adding to the financial burden of homeownership.

This softening demand in the Florida housing market means sellers are becoming more receptive to offers below asking price. If you're a buyer, now might be the perfect time to explore opportunities in coastal Florida. Just be sure to factor in those potentially higher insurance and tax costs when making your decision.

We can refer you to a great REALTOR no matter where you are looking in Florida. Contact Jim Armstrong.

Jim Armstrong
Broker - Armstrong Field Group
ALUXETY Real Estate
978-394-6736
jarmstrong@Armstrongfield.com
www.armstrongfield.com