REASONS FOR REAL ESTATE OPTIMISM!
It’s no secret that the 2025 real estate market in Whiskey Creekhasfaced challenges. After a decade of robust growth, we’ve entered a period of adjustment—shifting from a fast-paced seller’s market to a more balanced, buyer-driven one. Gone are the days of double-digit price gains and lightning-fast sales, and that’s okay. Here’s what’s been impacting the market:
1. Mortgage rates remain in the high 6% range.
2. Home prices reached a ceiling that many buyers weren’t willing to cross.
3. Insurance costs—both homeowners and flood—have climbed significantly.
4. Inventory has grown, while buyer activity has cooled.
Two-Year Trend Since 2023
The number of homes sold has remained about the same since 2023, the median price has dropped by 12% in two years. The sale price as a percentage of original list price is 89%, a decrease of 6% in two years. The DOM (days on market) has more than doubled in two years.
Five-Year Trend Since 2020
The number of homes sold in 2025 has decreased by 69% from 2020, the median price has increased by 26% in the past five years. The sale price as a percentage of original list price was 98% in 2020, 10% higher than this year. The DOM has increased by 133% in five years.
Ten-Year Trend Since 2015
The number of homes sold in 2025 has decreased by 35% from 2015, the median price has increased by 63% in 10 years. The sale price as a percentage of original list price was 97%, about the same as 2020, 9% higher than this year. The DOM today has increased by 118% in 10 years.
Here are some reasons to be optimistic about the market moving forward. Interest rates are expected to move lower. Home prices have declined. Florida has new legislation and incentives to decrease insurance costs. Additionally, new carriers are entering Florida’s insurance market. So far, we have had a year without hurricane damage. That is good news for everyone.
Traditionally, September is the slowest month of the year for making real estate deals. In the industry, it is sometimes called Deadtember. Those who have been working in real estate for some time know that this is a time to enjoy the lull and gear up for the expected increase in business. As the hot weather moderates, we are reminded that our northern neighbors will soon be thinking about all the reasons that Florida in the winter is a reason for them to consider owning a slice of our paradise. Snowbirds will continue their escape to the sun and sand this winter. Retirees will migrate south as surely as the birds do.
Why did you come to Florida? Occasionally we hear, “I was born here!” But most often it is because someone came for a visit and fell in love. Or “I have been wanting to retire here for 20 years.” Or “We discovered how affordable it is to live here.” Or, my personal favorite, “I just can’t take those COLDWINTERSanymore!” Whatever the reason you are here, welcome to your Nirvana. You and 24 million other Floridians are living proof that when the Spanish first settled St. Augustine, it was just the beginning!
If you have any questions or comments about this article or other real estate issues, please contact Bob Oxnard at [email protected].
