The South Florida real estate market isn’t doing as well as experts planned.
South Florida Agent magazine came out with their Year Over Year look at market indicators. You can see it in the graph below. Out of 20 categories, 14 were negative and just six were thumbs up.
What you can’t see are interest rates that’re almost one full percent lower today than a year ago. Unemployment nationally and locally is up from 4% to 4.3%. In South east Florida unemployment went from 2.7% to 3.5%.
Then overall, inventory for South Florida real estate is down. Look at my weekly Inventory report at the end of this essay. Supply is down 29 of the last 43 weeks. And last week alone it fell 843 units.
At the same time, the time it’s taking to sell remains high. Over 100 days in a wide swath of the area.
South Florida Real Estate is Picking Up
But in speaking with agents throughout the area, and from my own business, the market appears to have woken up. We’re all experiencing increased activity since early February.
I’m getting more follow up calls asking how showings are coming along and assessing buyer interest. More importantly, all those listings that’ve been on the market 115, 140 or 170 days are now getting action.
In the last 14 days I’ve shown 6 homes where the listing agent called the next day saying they received another offer and seeing if my customers were ready to play ball.
During the same time period, I’ve received 5 referrals for customers seeking to get a piece of the South Florida real estate game. Customers are coming from New Jersey (of course), Connecticut, New York and California – nothing new there.
And just this week, two customers went into escrow, I wrote two new offers, am finalizing three new luxury property listings and my lead generation from my website and YouTube channel are soaring to their highest level.
Why am I sharing this information with you? To share what’s happen with South Florida real estate today. Professional realtors are all sharing similar stories online. It’s peak selling season and three weeks ago the switch flipped.
That hasn’t happened in a while. Before February, things were quieter than normal.
Then came the ATP Pro Tennis tournament and since then, hotels have been full. Folks working in retail say the market came out from hibernation. And almost overnight, Atlantic Avenue and downtown Delray is packed.
For real estate there’s a new sense of urgency in the market. Knowing this, my next video is about acknowledging this change and how to succeed with your real estate goals. To do that you’ll need to ditch old strategies and advice, and get current.
In the video I share ten ideas you need to stop doing if you want buy with success. Keep your eye on my YouTube channel this weekend when it’ll be published.
And I’m now laying out the outline for my mid winter South Florida real estate luxury market update where I compare what’s happening in a handful of markets. Stay tuned…
(Main Photo Above: Stunning new home in Old Floresta, Boca Raton)
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*** One of my fastest growing videos today is “”Is buying a home in Delray Beach a smart idea in 2026?” Give it a look here
*** Price Improvement Alert: This downtown Delray condo listing wants a buyer. 2 Gyms, his & her dry saunas, a pool, business center, bicycle parking, secure-gated parking and walking distance to everything – Now $699k!
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*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 57,820
Today’s supply is 56,977
*** Supply is DOWN 29 of 43 weeks ***
