Top Real Estate Agents in Florida

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2023 Florida Housing Market Summary

Florida started 2023 with a total of 53,297 single-family homes on the market, with a median home price of $479,900 and an average price per square foot of $357. By the end of the year, inventory had increased to 65,943 homes on the market (+23%), with a median home price of $515,000 (+7%) and an average price per square foot of $393 (+10%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had remained the same at 70 days. Florida started the year with 40% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 40% of Florida homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Florida started 2023 as a seller’s market, with an MAI score of 39; by the end of the year, the MAI had dropped to 29 – a buyer’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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