South Florida Market Snapshot – July 2025

^{Data source: realtor.com
Monthly data updated on July 31, 2025 with data through July 2025}.

South Florida’s housing market continues to show signs of adjustment, but the overall picture remains one of balance rather than distress. Inventory is higher than a year ago—up +38% in Miami-Dade, +32% in Broward, and +18% in Palm Beach—giving buyers more choices while still well below oversupply territory.

Pricing remains resilient. Median listing prices dipped modestly year-over-year—down 7% in Miami-Dade, 5% in Broward, and 5% in Palm Beach—but stayed stable month-to-month in Broward and Palm Beach. This suggests sellers are adjusting expectations, while values remain firmly anchored.

Homes are taking longer to sell, with median days on market reaching 91 in Miami-Dade, 88 in Broward, and 86 in Palm Beach. While higher than last year, this pace is consistent with healthy housing conditions—two to three months is typical for a balanced market. Seasonal factors also play a role, as July historically marks a slower summer stretch before activity picks up again in the fall.

At the same time, buyers benefit from greater room to negotiate, with reductions still occurring at a moderate pace. Nationally, nearly 15% of home-purchase agreements were canceled in July—the highest rate ever recorded for that month. While this headline may sound alarming, analysts note that cancellations are rising partly because buyers have more inventory to choose from and can walk away from deals that don’t fully meet their needs. In other words, buyers are exercising more discretion, taking the time to secure the right property rather than rushing to close during periods of limited supply (Redfin / Investopedia).

Bottom line: This is not a distressed market. Instead, South Florida real estate is moving toward stability, where property value, condition, and pricing strategy matter again, and buyers and sellers meet on more equal footing.

Header image courtesy of Jordan Lederman and Jeffrey Amoretti | 1100 Biscayne Blvd # 4305, Miami FL, 33132 | Preview this home here.