For the past couple of years, Florida's housing market has been among the most competitive in the country. Many places have been strong seller's markets, as home prices have risen as much as 75 over the last five years in some areas.
However, recent data from the real estate website Redfin (as reported by Stacker) may indicate that at least some Florida markets are cooling, since houses are sitting unsold for longer than they were a year ago.
Here are the Florida markets being affected. Note that the markets are listed from lowest to highest, with the lowest scoring sitting on the market for the least amount of time.
The Lakeland Metro Area, at Number 42: This Polk County metro was recently named one of the fastest growing in Florida. Perhaps this unprecedented growth has started to slow, as homes in this community are sitting for an average of 52 days.
The Deltona Metro, at Number 34: This community in Volusia County in central Florida is one that has been considered reasonably priced since the median home price here is $314,000. However, this bargain price doesn't mean that people are quickly snapping up homes. Instead, the homes are sitting for an average of 55 days.
The Fort Lauderdale Metro, at Number 29: Fort Lauderdale in South Florida has increasingly become affluent in part because of its proximity to the water. The average home price here is just under $515,000, but that price may not be too enticing right now, as homes for sitting for an average of 57 days.
The Panama City Metro, at Number 26: This city in north Florida is often thought of as a vacation spot because of its beautiful beaches and fun attractions. Despite this, the median home price here is arguably still reasonable, at around $320,000. However, these bargain prices haven't meant that homes are still being snapped up. Homes here are sitting for an average of 58 days.
The Pensacola Metro, at Number 25: This is another panhandle town known for its beaches. Still, home prices here do not break the bank, at the bargain price of under $250,000, on average. That doesn't keep home prices from stagnating, however. They're sitting an average of 58 days.
The Jacksonville Metro, at Number 22: Population-wise, Jacksonville is Florida's largest city. It's been named the 2nd best place to live in Florida, but the median home price here is just under $300,000. Still, homes are sitting here for an average of almost two months.
The Port St. Lucie Metro, at Number 14: This town on Florida's treasure coast and has been projected to be among the fastest-growing in the country. The average home price is a bit higher here at just under $380,000. But homes are sitting for 63 days in this metro.
The Palm Bay Metro at Number 13: This metro is on Florida's east central coast is in Brevard County. This is a picturesque metro with a median home price of under $350,000. Still, sales might be slipping here, as homes are sitting an average of 64 days.
The West Palm Beach Metro, at Number 11: This area has seen a great deal of business growth. In fact, so many businesses have moved to West Palm Beach, that some call it "Wall Street South." The average home price is just under $425,000 here, but the market currently is such that homes are sitting for an average of 65 days.
The Miami Metro, at Number 10: In 2022, Miami was one of the most popular destinations for people who were relocating to Florida. As a result, Miami became one of the most expensive real estate markets in the country, with a median home price of $560,000. The high price may be a factor as to why houses aren't being snapped up quickly anymore. Homes here are sitting for an average of 66 days.
The Sebastian Metro, at Number 8: This city in Indian County is known for its natural beauty. But it is arguably currently Florida's most stagnant real estate market, as homes here are sitting for an average of 70 days.