South Florida Real Estate Market Update for April 2025
South Florida Market Trends (April 2025)
- Overall buyer’s market across all counties
- Broward condo inventory extremely high (47.8 months)
- Price gaps show sellers may need to adjust expectations
- Single-family homes outperform condos in turnover speed
- Buyers have strong negotiation power, particularly in Broward and Miami-Dade condos
1. Broward Coutny
Single Family Homes
- Closed Sales: 538 vs. New Listings: 2059 – similar surplus
- Months of Inventory: 21.02 – heavy buyer’s market
- Median Sold Price: $614,950 vs. Active: $750,000 – large pricing gap
- Median DOM: 38 – quicker turnover than condos
Condos
- Closed Sales: 376 vs. New Listings: 2048 – large surplus of inventory
- Months of Inventory: 47.80 – extreme buyer’s market
- Median Sold Price: $235,000 vs. Active: $250,000 – slight overpricing
- Median DOM: 66 – homes are sitting longer
Summary: Broward is a buyer’s market, particularly for condos. Inventory pressure could lead to price reductions.
2. Miami-Dade County
Single Family Homes
- Closed Sales: 806 vs. New Listings: 1906
- Months of Inventory: 8.55 – moderate buyer’s market
- Median Sold Price: $685,000 vs. Active: $875,000
- Median DOM: 37 – strongest performance
Condos
- Closed Sales: 685 vs. New Listings: 2302
- Months of Inventory: 19.40 – solid buyer’s market
- Median Sold Price: $450,000 vs. Active: $520,000
- Median DOM: 68 – slow-moving
Summary: Miami-Dade single-family homes are holding up best. Condo sector remains soft.
3. Palm Beach County
Single Family Homes
- Closed Sales: 953 vs. New Listings: 1793
- Months of Inventory: 8.23 – healthy level
- Median Sold Price: $725,000 vs. Active: $835,000
- Median DOM: 40 – decent turnover
Condos
- Closed Sales: 607 vs. New Listings: 1413
- Months of Inventory: 13.98 – leaning buyer’s market
- Median Sold Price: $285,000 vs. Active: $279,900 – stable pricing
- Median DOM: 74 – longest among all
Summary: Palm Beach is the most balanced county with reasonable inventory and stable prices.
Recommendation for Buyers and Sellers:
Buyers have strong leverage in today's South Florida market, with high inventory levels and ample negotiation room—especially in the condo segment.
Sellers should focus on competitive pricing and strategic presentation, as overpricing will likely lead to extended time on market and missed opportunities.
This report is designed to provide you with an expert overview of the current market trends and help you make informed decisions in your real estate endeavors.
If you have any questions or would like to discuss your specific real estate needs, please don't hesitate to reach out.
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