Tampa, Fla. (WFLA) – If you want to buy a home in Florida, the market could be beneficial. Redfin announced in January that Florida will be on sale in a record number of homes.
At the end of January, 172,209 units were sold. This is the highest stocks for every month on record, Redfin’s report shows.
According to Redfin, states have built more homes than most states, and have seen a surge in housing inventory. Intensifying natural disasters like Hurricanes Helene and Milton, as well as spikes in home insurance costs, has led some homeowners to leave the state.
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“There are so many options that buyers can choose from, so many homes for sale are sitting in the market for several months at a time, with old stocks piling up. The list is also stacked. As demand for home buyers is cooled, Florida home sales fell 9.3% per year in January,
Florida condominium inventory was at its highest ever in January. Inventories for single-family homes were shy about hitting record highs.
Redfin reported that active listings were eight highs in eight regions of the state’s 31 metropolitan areas: Cape Coral, Deltona-Daytona Beach, Homo Sassa Springs, Lakeland, North Port Sarasota, Ocala, Port St. Lucie and Village.
Florida Redfin agents say the state is in the buyer’s market. That is, “sellers need to provide concessions to bidders and make sure their homes are in cutting edge shape. According to the report, home prices are also falling in the Florida market.”
“Bidding wars are very rare these days,” said Brian Carnaggio, Redfin Premier Realtor in Jacksonville. “With so many of these houses for sale, the house should basically look out of the magazine.
