Florida condo prices rising faster inland than on the coast
The attractiveness of living close to Florida’s beaches and ocean views have long added extra value to coastal properties. However, shifting market conditions are challenging this with a new trend in real estate throughout the Sunshine State. The combination of rising insurance costs, threat of damage from storms to coastal communities and a growing inventory have slowed the real estate market across Florida. There is a silver lining as condo prices have remained relatively strong away from the coast. [Source: Islander News]
Gov. DeSantis promises to put property tax relief on 2026 ballot
Gov. Ron DeSantis is once again calling on state lawmakers to give Floridians some kind of property tax relief. Property taxes are the biggest source of revenue for local governments, funding everything from schools to police. DeSantis proposed local governments raise tourist taxes to compensate. [Source: WFTS]
Report shows 3 Florida cities at high risk of housing market crash
As unsold inventory piles up across the state, three Florida metropolitan areas are now at high risk of facing a housing market crash this year, according to a new study by information services provider CoreLogic. Researchers at the company estimated that, based on January data, Florida's Winter Haven, Tampa, and West Palm Beach are among the top five U.S. markets to watch in 2025 because they are at "very high" risk—over a 70 percent chance—to face price declines. More from Newsweek and WPBF.
Thousands of My Safe Florida Home program applicants never received their grant money
The My Safe Florida Home program has served as a vital resource for homeowners, aiming to enhance their properties' resilience against natural disasters while keeping insurance costs manageable. However, thousands of applicants who received an initial inspection report have yet to receive the funds they requested. [Source: WPTV]
Affordable homes in limbo as Florida county commissioner, nonprofits squabble
The fight centers around a program that gives the 13 county commissioners the ability to pick developers for small lots that Miami-Dade owns but has determined it has no need for anymore. Developers receive the land for practically nothing but must agree to build homes under county price limits and eligibility rules. [Source: Tampa Bay Times]
$25.95 million
A mansion is for sale on Florida’s Gulf Coast. At $25.95 million, it’s the most expensive listing ever on Longboat Key. [Source: MIami Herald]
› Cape Coral tops list of buyer's markets in nation
Two areas along the Florida's Gulf Coast are among the top 10 buyer’s markets in the United States, according to a March report from home improvement site Fixr.com. Cape Coral-Fort Myers is No. 1 on the list, while North Port-Sarasota-Bradenton is No. 8 for those buying real estate. A buyer’s market is characterized by more inventory than there are buyers.
› Palm Beach County home market balances, but buyers may have advantage for now
Palm Beach County homebuyers have more to choose from and more wiggle room to negotiate prices as the single-family market reaches a nascent balance, according to a report on February home sales. The report from the Broward, Palm Beaches, and St. Lucie Realtors Group found that while median sale prices were up 5% in February from the previous year to $647,000, the inventory of homes for sale also increased 30% to 5.7 months.
› What's happening in Tallahassee's commercial real estate market?
Industry experts say Tallahassee's commercial real estate market is performing well on most fronts with several new projects on the horizon. Yet, there's hesitation and impacts created at the federal and state level that are trickling down to the capital city. From renewed interest in office space following the COVID-19 pandemic, new restaurants and student housing, the 5th Annual Commercial Real Estate Update touched on the most significant impacts in the market, including increases in taxes and insurance rates.
› Homes by WestBay is building houses and careers in Tampa Bay
Before he started working for Homes by WestBay, Chris Hill was a customer. Having worked in sales for other builders, when it came time to shop for his own home, Hill came armed with plenty of questions. The sales associates at Homes by WestBay impressed him with their knowledge, patience and friendly demeanor. By the end of the process, he ended up landing his dream home and a new job as a sales associate with the company.