If you’re trying to time the South Florida real estate market, continue reading.
The monthly Multiple Listing Service (MLS) reports are showing patterns that make me stop and take notice. To start, look at the chart above. This shows the current and active listings for the entire South Florida real estate market.
As you can see below, last July there were 54,474 units available. Supply appears to have peaked back in April at 69,108 units for a 27% rise. But over the last 60 days, supply is down almost 4% to 66,458.
To put this into context, back in 2019, and for several years prior, South Florida real estate supply hovered near 54,000 units when things were a bit more normal. So you could say that we still have excess inventory for the market to absorb. And with that knowledge, you could argue there is more downside pricing pressure like we’ve see this year.
There’s More to the South Florida Real Estate Market
The Months of Supply was 6.9 months last July. But since April, or the last 90 days, it has flat-lined at 9.2 months (Remember, anything above 6 months is a buyers market). So, we’re still in a buyers market per the data, but it appears to be loosing strength.
Then there’s the Days on Market (DOM). Last July it hovered near 70 days. Since February this year, or 5 months in a row, it’s stuck near 88 days and starting to show some weakness or falling.
So all three of these metrics are showing a short term break in a longer term pattern. It’s noteworthy – something I like to put an asterisk next to. This data is something that can shift the narrative and change course of a market.
By no means am I saying we hit a peak in the current South Florida real estate buyers market. Based on three decades of watching charts and geeking out on numbers, it takes months for data to confirm a trend, and we’re not there yet.
But I’d be remiss if I didn’t bring this up today. As a stock investor, I know a trend can change in a matter of hours or minutes. If you miss it, you could lose out on massive gains.
On top of that, I have well over two-dozen buying customer waiting for a “fat pitch.” That’s when the opportunity is so clear that the only thing you can do is to act immediately.
So if you’ve been looking a piece of South Florida real estate, get prepared now.
That’s what happened with my customers E & M recently. They pinpointed a data metric and watched it like a hawk. For the last two years they told me they’d buy when they found a property at that metric. That happened last month. For them, they “found their bottom” and took instant action. As a matter of fact, the metric was well under the asking price, so they offered the asking price and it was accepted. Smart.
You may be searching with your metric today. If so, share it with me so I can work WITH you. And if you’ve been reading this eLetter for an extended time, you’re better prepared than most folks.
But there’s more to timing the South Florida real estate market. You must be focused on one, or two data points and watch them closer than anyone else. And when the market hits your number, or percentage, or discount… don’t be wishy-washy. Take action and don’t look back.
(Main Photo: Delray Beach 4th of July Fireworks from a Barge off the beach)
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*** This weeks eLetter is important. So, this week I’m in my video studio creating my latest Delray Beach Market Update. You’ll see it next week on my YouTube channel
*** Progress at Sundy Village is nearing completion. Stay tuned here.
*** My real estate team is expanding. Whether your looking to sell or buy in Loxahatchee, Wellington, Lake Worth, Boynton Beach, Delray, Boca, Costa Rica, or Cancun… my team is here to serve.
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*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 61,889
Today’s supply is 60,669
Supply was DOWN 1200 Units last week
*** Supply is UP 7,158 unit or 13% in 2025 ***
*** Supply is DOWN 5 weeks in a row ***
