Despite big waves of delistings.
By Wolf Richter for WOLF STREET.
It’s not that there are a lot of homes coming on the market – there are not – but that the homes that are on the market don’t sell because prices are too high.
The number of days that homes sit on the market before they get delisted or sold is blowing out in the biggest metros in Florida. The Cape Coral-Fort Myers metro hit it out of the ballpark with a new high for at least the last decade of 101 days. In the Miami-Fort Lauderdale-West Palm Beach metro, despite being the market in the US with the highest ratio of delistings, time on the market jumped to 88 days.
In the Tampa-Saint Petersburg-Clearwater metro, the median number of days homes sat on the market before they got pulled off the market or before they sold spiked to 73 days, the highest for any July in the data from Realtor.com, whose data go back to 2016. In July 2024, it was 61 days, in July 2019, it was 57 days.
Active listings in the Tampa-Saint Petersburg-Clearwater metro jumped by 22% year-over-year in July to 19,862 homes for sale. Compared to 2019, listings were up by 43%. The listings over the past six months all have been the highest in the data going back to 2016. As days on the market indicate, these are big inventories at a time when sales have plunged.
In the Miami-Fort Lauderdale-West Palm Beach metro, median days on the market before the homes were delisted or sold jumped to 88 days, up from 73 days a year ago, and up from 86 days in 2019, and the highest for any July in the past decade except July 2020, during the pandemic.
And it would have been a lot higher if sellers hadn’t delisted their properties on a massive scale: For each 100 new listings, sellers pulled 59 listings off the market, the highest ratio of delistings to new listings in the US, and more than double compared to a month earlier, according to Realtor.com.
Active listings in the Miami metro jumped by 30% year-over-year to 49,980 homes, the highest July in the data from Realtor.com, which goes back to 2016.
The runners-up were the Julys of 2017-2019, in the range of 45,500 to 46,200.
In the Cape Coral-Fort Myers metro, days on the market spike to 101 days, up from 86 days a year ago, the highest in the decade of data from Realtor.com.
Active listings jumped by 29% year-over-year, and by 49% from 2019, to 12,353 homes. The entire year, listings have been the highest in the decade of data.
In the Orlando-Kissimmee-Sanford metro, days on the market spiked to 75 days in July, up from 59 days a year ago and up from 56 days in July 2019. There is a distinct seasonality in this market, with the spring being the trough, and January being the high point, which is still six months away:
Active listings jumped by 26% year-over-year and by 45% since July 2029, to 14,364 homes. Over the six months, listings have been the highest in the decade of data.
In the Jacksonville metro, days on the market jumped to 72 days, the highest for any July in the decade of data, up from 58 days a year ago and from 54 days in 2019.
Active listings jumped by 16% year-over-year, and by 24% from July 2019, to 9,767 homes. The past five months were the highest in the decade of data from Realtor.com.
In the North Port-Sarasota-Bradenton metro, time on the market before homes were delisted or sold rose to 83 days, up from 68 days a year ago, but still before July 2019 (85 days) and July 2020 (103 days).
Active listings rose by 22% year-over-year and by 37% from 2019 to 9,533 homes. The past six months have been the highest in the decade of data.
In the Deltona-Daytona Beach-Ormond Beach metro, median days on the market jumped to 86 days, by far the highest July in the data, up from 70 days a year ago, and up from 71 days in July 2019.
Active listings rose by 20% year-over-year, and by 38% from 2019, to 6,868 homes. Listings over the past six months were the highest in the decade of data.
In the Lakeland-Winter Haven metro, days on the market jumped to 81 days, from 65 days in July 2024, and from 61 days in July 2019:
Active listings had already been soaring in 2024 beyond anything over the past decade of data, and all of 2025 has been even higher than 2024. In July, active listings rose by 14% from July 2024, by 80% from July 2019, and by 105% from July 2017, to 5,057 homes.
Prices have been skidding downhill in the major Florida markets, particularly condo prices, for example in St. Petersburg (-21%), Fort Meyers (-17%), Sarasota (-17%), Jacksonville (-14%), Tampa (-13%), and Naples (-13%). They’re part of the 19 bigger condo markets in the US with price declines of 12-23%, discussed here.
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As Wolf says low prices solve any sales problems. So lower prices.
Big 100 billion 4 week note sale today. Could be interesting for mortgage rates.