Introduction to the Buyers’ Housing Market
In what could be an increasingly balanced real estate market in South Florida, buyers may have more of the upper hand. In the years following what Keyes Co. CEO Mike Pappas calls the “COVID-19 sizzle,” housing inventory has gradually increased and prices have begun to stabilize. That trend has progressed to the point where some real estate experts believe the conditions have been created for a buyer’s market.
Market Trends and Shifts
“The market is now digesting a more fluid and even-keeled market and digesting higher prices with higher interest rates,” Pappas said. Some market factors leading to this shift include:
— New listings are falling by more than 12% in Miami, Fort Lauderdale and West Palm Beach, according to recent report released by Redfin, a real estate company, but active listings are on the rise.
— The average 30-year fixed mortgage rate recently fell to nearly 6.3%, which is the lowest level in about a year.
— Single-family home prices indicate stability, even though there has been a reduction in transactions.
“It definitely feels like a buyers’ market,” Redfin Premier real estate agent Nikkolene Byron said in a statement.
Regional Variations in South Florida
Though the market factors generally are ubiquitous across South Florida, prices and inventory differ in Broward and Palm Beach counties. According to the Broward, Palm Beaches and St. Lucie Realtors, Broward County’s supply of single-family homes rose by about 19% from August 2024 to August 2025, from 4,604 homes to 5,489 homes. This increase still is less than the increase of inventory from January 2024 to January 2025.
“We’re seeing more balance in Broward County’s market,” said Jonathan Lickstein, president of the Broward, Palm Beaches and St. Lucie Realtors, in a statement. “With greater inventory and less competition, buyers are in a stronger position.”
Housing inventory in Palm Beach County has increased but not nearly as much as it did in Broward County. In August 2024, the number of available single-family homes was 5,257, and in August 2025, that number rose by about 8% to 5,702 homes.
“We’re seeing more breathing room in Palm Beach County,” Lickstein said. “With more homes on the market and longer timelines, buyers can take their time.”
Price Stability and Market Balance
The median sale price for single-family homes increased in both counties, but only marginally. In Broward County, median prices went up by about 3%, and in Palm Beach County, by about 2%. Pappas said housing inventory should further be analyzed by local markets within South Florida as each may tell a different story, too.
“Is a Parkland different than a Coral Gables? Is a Coral Gables different than a Lighthouse Point and Boca Raton and Delray and West Delray? And so it just depends on the submarket that you’re talking about,” he said.
Future Market Outlook
Across the board though, if inventory continues to rise, sellers will have no choice but to reduce their prices; a simple supply-and-demand calculation. This could further lead to a buyers’ advantage. Many sellers have been discouraged, Pappas said, which could be somewhat limiting the inventory for now.
“We’ve seen sellers that maybe had aspirational pricing or maybe didn’t have the motivation to sell — they’re withdrawing their properties and taking them off the market,” he said. “So that’s limiting the inventory somewhat.”
Pappas said prospective buyers are in a good position to begin doing homework if they want to make a purchase in the near future.
“We’re bullish on 2026 of an improving market. We don’t think you’re going see a sizzle in price, but you’ll see a steady increase that we normally see historically,” he said.
Conclusion
The South Florida real estate market is witnessing a shift towards a buyer’s market, with increasing inventory and stabilizing prices. As the market continues to balance out, buyers are gaining more negotiating power. With the average 30-year fixed mortgage rate decreasing and single-family home prices indicating stability, prospective buyers are in a good position to make a purchase in the near future.
FAQs
Q: What is the current state of the South Florida real estate market?
A: The South Florida real estate market is shifting towards a buyer’s market, with increasing inventory and stabilizing prices.
Q: What are the key factors contributing to this shift?
A: The key factors contributing to this shift include a decrease in new listings, an increase in active listings, and a decrease in the average 30-year fixed mortgage rate.
Q: How do prices and inventory differ in Broward and Palm Beach counties?
A: Prices and inventory differ in Broward and Palm Beach counties, with Broward County experiencing a 19% increase in single-family home inventory and Palm Beach County experiencing an 8% increase.
Q: What is the outlook for the future of the South Florida real estate market?
A: The outlook for the future of the South Florida real estate market is positive, with experts predicting a steady increase in prices and a balanced market.
