South Florida's real estate market is undergoing a significant transformation, moving away from the intense seller's advantage seen in recent years. An increase in housing inventory and stabilizing prices are creating more favorable conditions for homebuyers, according to market data and industry experts.
After a period described by Keyes Co. CEO Mike Pappas as the “COVID-19 sizzle,” the region is now experiencing a more balanced and predictable market. This shift provides potential buyers with more options and negotiating power than they have had in years.
Key Takeaways
- Housing inventory for single-family homes has increased by 19% in Broward County and 8% in Palm Beach County over the past year.
- Median home prices are stabilizing, with modest increases of around 3% in Broward and 2% in Palm Beach County.
- Despite a drop in new listings, the total number of active listings is rising, giving buyers more choices.
- Experts believe that if inventory continues to grow, sellers may need to lower prices to remain competitive.
A Changing Landscape for Homebuyers
The dynamic in South Florida's housing market is clearly adjusting. The frenzied pace of the post-pandemic years is giving way to a more measured environment. “The market is now digesting a more fluid and even-keeled market and digesting higher prices with higher interest rates,” said Mike Pappas, CEO of the real estate firm Keyes Co.
This normalization period is characterized by several key trends. While the number of newly listed properties has declined, the overall pool of available homes for sale has expanded. This suggests that homes are staying on the market longer, reducing the intense competition among buyers.
According to a recent report from real estate company Redfin, new listings have fallen by over 12% across Miami, Fort Lauderdale, and West Palm Beach. However, the number of active listings continues to climb, signaling a crucial shift in supply.
County-by-County Breakdown: Broward vs. Palm Beach
While the trend towards a more balanced market is region-wide, the pace of change varies between counties. Data from the Broward, Palm Beaches and St. Lucie Realtors association highlights these differences.
Broward County Sees Significant Inventory Growth
Broward County has experienced a more pronounced increase in available homes. The supply of single-family homes surged by approximately 19% between August 2024 and August 2025, growing from 4,604 to 5,489 available properties.
“We’re seeing more balance in Broward County’s market,” stated Jonathan Lickstein, president of the Broward, Palm Beaches and St. Lucie Realtors. “With greater inventory and less competition, buyers are in a stronger position.”
Despite the rise in inventory, the median sale price for a single-family home in Broward County saw a modest increase of about 3% during the same period.
Palm Beach County Experiences Slower Shift
In Palm Beach County, the inventory growth has been more gradual. The number of available single-family homes increased by about 8%, from 5,257 in August 2024 to 5,702 in August 2025.
This slower pace still provides relief for buyers. “We’re seeing more breathing room in Palm Beach County,” Lickstein noted. “With more homes on the market and longer timelines, buyers can take their time.” The median sale price in Palm Beach County rose by a marginal 2%.
Understanding Market Subtleties
Real estate expert Mike Pappas emphasizes that conditions can vary significantly within the region. “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. Buyers should research specific neighborhoods to understand local trends.
Factors Driving the Market Shift
Several economic factors are contributing to the cooling of the South Florida market. A combination of rising inventory, stabilizing prices, and changes in mortgage rates is reshaping the real estate environment.
Key market drivers include:
- Rising Inventory: The most significant factor is the growing number of homes for sale. As supply increases, the market naturally shifts from favoring sellers to providing more opportunities for buyers.
- Price Stabilization: The rapid price appreciation of previous years has slowed considerably. While prices are not falling, their rate of increase has moderated, making entry into the market more predictable.
- Mortgage Rates: A recent dip in the average 30-year fixed mortgage rate to nearly 6.3%, its lowest point in about a year, has provided some relief to buyers concerned about affordability.
Seller Behavior's Impact
Some sellers who had set high, or “aspirational,” prices are now pulling their homes off the market rather than reducing the price. According to Mike Pappas, this behavior is “limiting the inventory somewhat,” but has not been enough to stop the overall trend of rising supply.
The combination of these elements has led some experts to declare a definitive shift. “It definitely feels like a buyers’ market,” said Redfin Premier real estate agent Nikkolene Byron in a statement.
Expert Analysis and Future Outlook
Industry leaders are advising potential homebuyers to prepare for opportunities that may arise in the coming months. The fundamental principle of supply and demand suggests that if inventory continues to grow, sellers will face increasing pressure to adjust their pricing downwards.
Mike Pappas suggests that now is an ideal time for prospective buyers to begin their research. “We’re bullish on 2026 of an improving market,” he stated. He does not anticipate another dramatic price surge but rather a return to the steady, historical appreciation rates seen before the pandemic.
For those looking to purchase a home in South Florida, the current climate presents a window of opportunity. The increased inventory and stabilizing prices signal a market that is becoming more accessible and less frantic, allowing buyers to make more deliberate and informed decisions.
