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The real estate market in Florida is soft, especially on the southwest coast

Florida's apartment boom from the Pandemie era finally begins to fade.

The highest level is reached for the sales stock in the state, and the houses stay on the market longer, even if the peak values ​​for the HomeBuing season begin. The prices fall in many parts of the state.

The turned market comes when migration slows down in the Sunshine State, and a combination of hurricane fears, rising insurance and tax invoices as well as a steady range of new buildings has given buyers more leverage. While the state's budgetary market was corrected, the market for single -family houses came into force in Surfside, Florida, after the collapse of the condominium of 2021.

“Inventory and time on the market are dramatically increased,” said Ben Grieco, a real estate agent in the southwestern city of Port Charlotte. “It is not as if buyers have never left, but there is so much to choose that it really lowers prices.”

According to Realor.com, the lists in the state state pre-pandemic level in January in January in January. More than 168,000 houses have been active on the market since last month. According to Redfin, the residences in Florida spent an average of 75 days on the market, 13 days after the previous year.

From January, the single -family houses in a group of cities on the southern Gulf Coast fell fastest. According to Zillow data, the prices in Punta Gorda have dropped by almost 8% since January 2024. Thirty miles south of Cape Coral fell 5.6% compared to the previous year.

The prices in the north harbor and in the high-end, golf-ended city of Naples in Golf also fell by more than 3% last year.

“People are concerned”

Memories of Hurricane Ian, who devastated a number of municipalities in southwestern Florida in 2022 and was the most expensive storm in the history of the state, is still characterized by today's buyers and sellers, said Rick Harrison, a real estate agent in Fort Myers. Buyers ask detailed questions about Homes' flood history, while sellers are motivated to complete transactions before the next hurricane season begins in June.

“Everyone at this point was trained enough to know that hurricanes had a major impact on our region,” said Harrison. “People are concerned on both sides.”

An aerial view of the damaged houses from the hurricane Ian, which can be seen near Fort Myers in September 2022 (Al Diaz/Miami Herald/Tribune News Service via Getty Images) · Miami Herald about Getty Images

Nevertheless, many buyers have difficulty affording what is offered for sale. The median list of list in the state is 435,000 US dollars. It has been lower since mid -2022, but is still 32% higher than at the end of 2019. The prices that are coupled with mortgage interests over 6% have completely left out the market, which contributed to the existing clamp.