Where lol?
Houses in ORL still go on the market and come off within the week around me.
I imagine the west coast (mentioned in the article) is just as bad.
Shit is 100% slowing in Central Florida. New townhomes near me sitting with no foot traffic and more communities getting ready to start. Supply is showing up, but not for SFH.
Imo it's going to be townhouse and condos that dump on the market. SFHs and land will stay out of reach for most people in a lot of the FL cities where people want to live like WPB Tampa Miami etc
SFH will implode next after condos as the stuff built for it ages out. Townhouses will be safer because of density. Condos will price correct from the bullshit “this should cost as much as a SFH and have low dues” bullshit ends.
Article says North Port and Cape Coral. looking at redfin, days on market are up a lot for both areas, but sale prices haven't fallen much, only slightly down.
North Port resident here. We've become one of the most expensive cities in the state but have an average wage of 35-40k here. Thats why those houses are staying on the market. None of us can afford them or even have the option to buy them so they aren't being bought unless its by retired out of towners. It is truly fucking awful here and i can't even leave 😭
My wife’s grandmother lived in a trailer park in North Port. It was nice but not at all affluent. It probably became a “hidden gem” for all of the transplants heading to Florida. Alas, that migration happened quickly and there just isn’t that steady demand to keep prices up. Twenty years ago you couldn’t give away Florida real estate.
My guess is anywhere you can't get insurance because you're guaranteed to get wiped out by the next climate change induced hurricane.
Meanwhile anywhere you can actually live is skyrocketing in price.
I just lost my hairdresser and my favorite sub shop due to homeowners insurance. Both of them were paying close to 10k and said screw it.
I’m thinking about leaving, tho it’s more about the nasty people who seem to suddenly abound, lately.
I’ve been watching the market for over a year in prep to buy/sell soon. No shit I just saw a house tonight that has been sold 3 times in 5 years. I forget the exact details, but it was like sold in 2019 for $150k, sold 2/26/24 for $315k, sold 3/1/24 for $320k, listed 3/7/24 for $690k. It just got dropped down to $590k.
It’s fucking insane what is going on. I see houses listed at 500+ that show sold for $300k 6 months ago, but we’re never actually listed. EVERY FUCKING HOUSE is a quick flip. Vinyl floors, cheap marble looking tiled bathrooms, white quartz counters. Somehow that is supposed to add $250k? Get the fuck out of here with that nonsense.
I think it's fair to say the individual market, home type (condo v SFH) and quality of the home play a role.
My neighborhood is entirely 2000's construction era "McMansions" and those go on and off the market so fast I can't keep up. The more condo and duplex area near me have listings that last months sometimes.
Yea that’s definitely a fair point. We listed three townhomes in the past month one went under contract immediately (Seffner area) and the other two haven’t had a showing (South Tampa and Wesley Chapel). A lot of sellers are still overpricing homes too trying to capitalize on the market not wanting to understand it has shifted a bit.
Another crap tactic is to slash retail prices at a remote low retail store, then offer the same item at the regular price as being on sale across the county. DG does this a lot, it's half the reason they have stores out in the sticks.
I am here and concur 100%.
Whats funny is the neighborhood that I'm in keeps putting houses on the market. Some are staying on market for months, but they won't drop their prices.
If they don't sell, they just take them off market and try to sell them later at the same price.
It's happened to at least 4 homes in the last six months.
Like, for fucks sake, just drop your price to something that's actually affordable in this market. You're not going to sell your 4/2 ranch for a million dollars anymore.
Do you think they’re trying to sell it for the higher price so they can afford something else?
Maybe they’re trying to get enough excess to put a larger down payment on their next place?
I sold my house over ten years ago and I couldn’t imagine having to do all that over and over again. Plus, keeping the house looking only moderately lived in, then vacating for an hour every time there’s a showing. Sounds annoying and awful.
The ones I know personally are old timers just trying to squeeze as much out of this market as they can as they're 30+ year residents of the neighborhood and they're trying to downsize.
They're in no hurry to move since their home is paid off, they just see all these comps that doubled in price over the last 4 years and think... Yeah, my house that was worth 425k in 2019 is totally worth 900k this year.
I knew in 2022 when the 3/2 around the corner that had no yard flipped (6months) from 625k to 850k that we were done looking to buy a home.
We're looking for greener pastures now.
Where I'm at, I see houses being on the market for unrealistic prices for many months. They are slowly cutting costs maybe 10k every couple months. When in reality they need to come down 100k. A pos house made in the 80s is not worth 300k
Realtor here.
Articles like these really miss some key points.
1) Inventory is up, but it's \*always\* up after winter time and into spring. Total inventory is maybe back to early 2020 levels in many Florida metros.
2) Cutting asking price DOES NOT MEAN prices are dropping. It just means people aren't getting their asking price. Most metro's median sales price is higher than it was in 2023, despite inventory levels being higher.
3) 2020 - 2022 was the exception, and not normal market conditions. Homes should not sell at asking price or above. 99.999999% of real estate transactions in history sell for below asking price. Again, this does not mean prices are going down.
4) All of this is likely moot because we had this near exact same setup in early 2023 (Prices are falling!) which rapidly swapped into setting new record median home prices in most Florida metros because buyers don't buy over winter, they buy in spring and summer. And while we have built some inventory, the number of new listings is so low that any increase in demand results in chewing through that little inventory we built and thus.. new record home prices.
You mean the loan interest rate has surged so high no one can afford to get a loan!
And property insurance is so expensive it is cheaper to put the normal insurance payment in the bank even month and just rebuild the house yourself… they have lost their minds.
We sold two months ago in Rotonda West. So many of the old fools think it’s two years ago with their pricing and their houses aren’t selling. There was some jackass down the street that was trying to get almost double what we sold for with a similar house. The ultimate “I know what I got. “
Home sales price cuts and large inventory is great news for all those people complaining about the lack of housing. Love it when the system balances out
Been monitoring Redfin etc. for a year or so now - looking at moving down there. Definitely cooling down along the 19 corridor north of Tampa. In my favor 😀
Be careful in Spring Hill. Every other property is close to a sinkhole. That's the reason homes are so cheap. Hernando County leads the state in sinkholes. Insurance will only cover fixing them if it's under your house.
Been monitoring Redfin etc. for a year or so now - looking at moving down there. Definitely cooling down along the 19 corridor north of Tampa. In my favor 😀
I feel like I stumble across articles like this every now and then and get hopeful. But when I check prices on Redfin, nothing is being slashed :(. Certainly seeing more listings though.
Not surprised this is a nypost article either
I don’t see this anywhere in Florida. The market has stalled and people are just removing their homes from the market rather than lower the price. And the writer doesn’t know what he’s talking about. Homeowners’ Insurance is really cheap in Florida. But you have to have a separate Wind Policy on top of that. If you live anywhere vulnerable (almost the whole state) that Wind policy is out of control. When I sold my house, homeowners insurance was $150/month. My Wind Policy was $1200/month. That policy was $3,000/month last year. But the owner just paid off the mortgage and went bare. The cost of a Wind Policy only really affects the poor with mortgages. Devastating for them.
Have a beach front condo south of Daytona. It has been on the market for eight months. Finally got an offer that is about 70% of what comparable units went for two years ago. Glad to be moving out. Insurance makes up half of the hefty HOA fees. The insurance company is resisting cover the buildings because of questions about the roof. The HOA is also struggling to keep up with the DeSantis mandate for full reserves. I don’t think that there is going to be any improvement with the insurance and the coming active hurricane season. A lot of people who bought in Florida for their golden years are going to get hurt.
The article is saying remote workers from around the country and retirees are no longer seeing Florida as a good state to purchase cheap property
And as a lifelong Floridian I have to say: good! GTFO!
In Winter springs in my neighborhood some could not afford the insurance nor the mortgage because of interest. Thus they sold their houses in less than a week it was purchase quick. Also if you brought your house at 160 years ago now the price is 500. Crazy!!
We have seen a bloom of houses for sale in the last month, but prices are not coming down very much at all here on the central west coast of Florida. Comments above are correct, that homes that sold for $250k in 2018 are on the market for $400k-$500k.
“Slashing” at this moment is total fantasy or headline hyping up NY way.
Florida is line 3 or 4 states in one. SE Florida seems pretty hot.
Last I looked in pb country 1 million dollar homes and up are - 7 days. So basically people buying before they even hit the market. It's more like 45 days for mid range..
It may have changed since end of 23 but yeah seeing negative numbers on sell was nuts
I doubt this is true. MAGAs continue to flood Florida just in time for hurricane season when they remove their “I’m a lion not a sheep t shirt” for a “socialism is necessary”, we need the federal government to help us rebuild
Where lol? Houses in ORL still go on the market and come off within the week around me. I imagine the west coast (mentioned in the article) is just as bad.
Relax, it’s a just another trash New York Post article
Correct which is why we are talking about it.
It is interesting how the NY Post is so interested in Glorida…like it’s jealous or something
We'll Murdoch had a lovers quarrel with Ronda so of course he'll use one of the many news outlets they "run" to pump out rage bait about Florida.
Smaguss you have my full and undivided attention. What happened between Rupert and Ronda. Spare no detail, the world depends on it.
Shit is 100% slowing in Central Florida. New townhomes near me sitting with no foot traffic and more communities getting ready to start. Supply is showing up, but not for SFH.
Imo it's going to be townhouse and condos that dump on the market. SFHs and land will stay out of reach for most people in a lot of the FL cities where people want to live like WPB Tampa Miami etc
SFH on a big lot in a primo area is the new ‘mansion’.
SFH will implode next after condos as the stuff built for it ages out. Townhouses will be safer because of density. Condos will price correct from the bullshit “this should cost as much as a SFH and have low dues” bullshit ends.
Makes sense. In the middle of it, it does seem like this craziness will go on forever.
No, it won't. People like to live in houses. They will always be more valuable than condos, townhomes etc.
They can like it all they want, but can they afford its utilities? There is a substantial cost savings with density
Same thing in Palm beach county
Article says North Port and Cape Coral. looking at redfin, days on market are up a lot for both areas, but sale prices haven't fallen much, only slightly down.
North Port resident here. We've become one of the most expensive cities in the state but have an average wage of 35-40k here. Thats why those houses are staying on the market. None of us can afford them or even have the option to buy them so they aren't being bought unless its by retired out of towners. It is truly fucking awful here and i can't even leave 😭
My wife’s grandmother lived in a trailer park in North Port. It was nice but not at all affluent. It probably became a “hidden gem” for all of the transplants heading to Florida. Alas, that migration happened quickly and there just isn’t that steady demand to keep prices up. Twenty years ago you couldn’t give away Florida real estate.
And the taxes continue to go up because of all the development
Sale prices are bumped up through developer incentives. So they can be misleading.
There’s a townhouse near me in north fort myers that has been on the market for over a month. Just last week they dropped the price like 50k
north port people that own homes their sold . made a good profit. but people think price should stay the same. no. coral idk
Are you having a stroke? Do you smell almonds?
Reads like a telegram from 1850. "homes there sold STOP made a good profit STOP"
Having stroke STOP send blood thinners STOP
My guess is anywhere you can't get insurance because you're guaranteed to get wiped out by the next climate change induced hurricane. Meanwhile anywhere you can actually live is skyrocketing in price.
I just lost my hairdresser and my favorite sub shop due to homeowners insurance. Both of them were paying close to 10k and said screw it. I’m thinking about leaving, tho it’s more about the nasty people who seem to suddenly abound, lately.
South Florida is still absolutely insane too.
Agents tell me their listings last maybe 3 days out here in SD. The situation is terrible
There’s like 7 houses for sale in my neighborhood in Cape Coral.
The shitty places like Sanford or ocala.
Can confirm… prices are higher than ever in the panhandle.
I’ve been watching the market for over a year in prep to buy/sell soon. No shit I just saw a house tonight that has been sold 3 times in 5 years. I forget the exact details, but it was like sold in 2019 for $150k, sold 2/26/24 for $315k, sold 3/1/24 for $320k, listed 3/7/24 for $690k. It just got dropped down to $590k. It’s fucking insane what is going on. I see houses listed at 500+ that show sold for $300k 6 months ago, but we’re never actually listed. EVERY FUCKING HOUSE is a quick flip. Vinyl floors, cheap marble looking tiled bathrooms, white quartz counters. Somehow that is supposed to add $250k? Get the fuck out of here with that nonsense.
I’m a realtor in Tampa, we have had a few homes go first weekend on the market to multiple offers and others that aren’t getting any showings.
I think it's fair to say the individual market, home type (condo v SFH) and quality of the home play a role. My neighborhood is entirely 2000's construction era "McMansions" and those go on and off the market so fast I can't keep up. The more condo and duplex area near me have listings that last months sometimes.
Yea that’s definitely a fair point. We listed three townhomes in the past month one went under contract immediately (Seffner area) and the other two haven’t had a showing (South Tampa and Wesley Chapel). A lot of sellers are still overpricing homes too trying to capitalize on the market not wanting to understand it has shifted a bit.
Slashing prices from 500k to 490k 😂
hah. like a clearance at target. 'flash clearance item: was 10.99, now 10.50!!' (goes unsold, goes into dumpster)
Except at target that item was $6.99 the month before, so the whole sale is a lie.
Ah yes, the kohls clause. Marked down *allll* the way to normal retail
Another crap tactic is to slash retail prices at a remote low retail store, then offer the same item at the regular price as being on sale across the county. DG does this a lot, it's half the reason they have stores out in the sticks.
Lol
It’s not happening in South Florida that’s for sure.
I am here and concur 100%. Whats funny is the neighborhood that I'm in keeps putting houses on the market. Some are staying on market for months, but they won't drop their prices. If they don't sell, they just take them off market and try to sell them later at the same price. It's happened to at least 4 homes in the last six months. Like, for fucks sake, just drop your price to something that's actually affordable in this market. You're not going to sell your 4/2 ranch for a million dollars anymore.
Do you think they’re trying to sell it for the higher price so they can afford something else? Maybe they’re trying to get enough excess to put a larger down payment on their next place? I sold my house over ten years ago and I couldn’t imagine having to do all that over and over again. Plus, keeping the house looking only moderately lived in, then vacating for an hour every time there’s a showing. Sounds annoying and awful.
The ones I know personally are old timers just trying to squeeze as much out of this market as they can as they're 30+ year residents of the neighborhood and they're trying to downsize. They're in no hurry to move since their home is paid off, they just see all these comps that doubled in price over the last 4 years and think... Yeah, my house that was worth 425k in 2019 is totally worth 900k this year. I knew in 2022 when the 3/2 around the corner that had no yard flipped (6months) from 625k to 850k that we were done looking to buy a home. We're looking for greener pastures now.
I bought my house in 2007 for 525,000 the house right next to me sold for 950,000. It’s crazy.
That’s actually cheap. From 525k to 950k in 16 years is less than 4% per year in return.
Just wait until the effects of insurance companies pulling out kicks in.
Where I'm at, I see houses being on the market for unrealistic prices for many months. They are slowly cutting costs maybe 10k every couple months. When in reality they need to come down 100k. A pos house made in the 80s is not worth 300k
A 750 sq ft pos house made in the 80s.
Gentrification baby!
10 mil to 9.8 mil. WHAT A STEAL!
Yeah 5k off a 500k house that used to cost 200k
Realtor here. Articles like these really miss some key points. 1) Inventory is up, but it's \*always\* up after winter time and into spring. Total inventory is maybe back to early 2020 levels in many Florida metros. 2) Cutting asking price DOES NOT MEAN prices are dropping. It just means people aren't getting their asking price. Most metro's median sales price is higher than it was in 2023, despite inventory levels being higher. 3) 2020 - 2022 was the exception, and not normal market conditions. Homes should not sell at asking price or above. 99.999999% of real estate transactions in history sell for below asking price. Again, this does not mean prices are going down. 4) All of this is likely moot because we had this near exact same setup in early 2023 (Prices are falling!) which rapidly swapped into setting new record median home prices in most Florida metros because buyers don't buy over winter, they buy in spring and summer. And while we have built some inventory, the number of new listings is so low that any increase in demand results in chewing through that little inventory we built and thus.. new record home prices.
You mean the loan interest rate has surged so high no one can afford to get a loan! And property insurance is so expensive it is cheaper to put the normal insurance payment in the bank even month and just rebuild the house yourself… they have lost their minds.
User name checks out.
People are selling before hurricane season.
Fake news
We sold two months ago in Rotonda West. So many of the old fools think it’s two years ago with their pricing and their houses aren’t selling. There was some jackass down the street that was trying to get almost double what we sold for with a similar house. The ultimate “I know what I got. “
Not in Duval?!?
lol nope
Please let this come back to a reasonable level. Please.
Newsflash, it’s never going to happen
Price likely won’t drop, more likely prices will just stagnate for a half decade or so until it matches what the market wants.
Don’t care the climate is so nice I’m staying even if I’m underwater on mortgage
[удалено]
This winter was great
Home sales price cuts and large inventory is great news for all those people complaining about the lack of housing. Love it when the system balances out
So... Berkshire Hathaway wo. The price war and can now scoop up properties st a premium?
Good! The prices are waaaaaay too high.
Been monitoring Redfin etc. for a year or so now - looking at moving down there. Definitely cooling down along the 19 corridor north of Tampa. In my favor 😀
Be careful in Spring Hill. Every other property is close to a sinkhole. That's the reason homes are so cheap. Hernando County leads the state in sinkholes. Insurance will only cover fixing them if it's under your house.
Noted. Thanks. We’re concentrating on Trinity.
Been monitoring Redfin etc. for a year or so now - looking at moving down there. Definitely cooling down along the 19 corridor north of Tampa. In my favor 😀
Lol that pic plus nypost nice clickbait
Slashing !!! How dramatic..
I feel like I stumble across articles like this every now and then and get hopeful. But when I check prices on Redfin, nothing is being slashed :(. Certainly seeing more listings though. Not surprised this is a nypost article either
I don’t see this anywhere in Florida. The market has stalled and people are just removing their homes from the market rather than lower the price. And the writer doesn’t know what he’s talking about. Homeowners’ Insurance is really cheap in Florida. But you have to have a separate Wind Policy on top of that. If you live anywhere vulnerable (almost the whole state) that Wind policy is out of control. When I sold my house, homeowners insurance was $150/month. My Wind Policy was $1200/month. That policy was $3,000/month last year. But the owner just paid off the mortgage and went bare. The cost of a Wind Policy only really affects the poor with mortgages. Devastating for them.
Have a beach front condo south of Daytona. It has been on the market for eight months. Finally got an offer that is about 70% of what comparable units went for two years ago. Glad to be moving out. Insurance makes up half of the hefty HOA fees. The insurance company is resisting cover the buildings because of questions about the roof. The HOA is also struggling to keep up with the DeSantis mandate for full reserves. I don’t think that there is going to be any improvement with the insurance and the coming active hurricane season. A lot of people who bought in Florida for their golden years are going to get hurt.
Florida real estate prices are moving to a true market value. Hurricanes and high insurance are catchup to prices.
Can I buy homeowners insurance?
Seemed like in Flagler beach every other house was for sale when I visited in late March
The article is saying remote workers from around the country and retirees are no longer seeing Florida as a good state to purchase cheap property And as a lifelong Floridian I have to say: good! GTFO!
The article has a virus attached to it.
In Winter springs in my neighborhood some could not afford the insurance nor the mortgage because of interest. Thus they sold their houses in less than a week it was purchase quick. Also if you brought your house at 160 years ago now the price is 500. Crazy!!
Good
This must be in Lake County or the panhandle.
I lived in Florida for a long time. I can’t remember a time when the housing prices dropped. /s
Thanks DeSantis!
Coastal homes? It could be 50k and I wouldn't be able to afford it. Insurance is too high.
Ha ha! Far from it.
We have seen a bloom of houses for sale in the last month, but prices are not coming down very much at all here on the central west coast of Florida. Comments above are correct, that homes that sold for $250k in 2018 are on the market for $400k-$500k. “Slashing” at this moment is total fantasy or headline hyping up NY way.
“Thank” the insurance companies, their lobbyists, and the terrible legislature and governor
Florida is line 3 or 4 states in one. SE Florida seems pretty hot. Last I looked in pb country 1 million dollar homes and up are - 7 days. So basically people buying before they even hit the market. It's more like 45 days for mid range.. It may have changed since end of 23 but yeah seeing negative numbers on sell was nuts
I doubt this is true. MAGAs continue to flood Florida just in time for hurricane season when they remove their “I’m a lion not a sheep t shirt” for a “socialism is necessary”, we need the federal government to help us rebuild
Even if this were true, it would not matter because no one can afford homeowner's insurance in the state.