Florida Housing Market Enters Third Straight Year of Decline

Across much of the United States, home prices have been trending downwards in recent months. According to data from Realtor.com, the typical single-family home was listed for $403,450 in February 2026, down 2.9% – or $12,050 – from February 2024. But few statewide housing markets have seen deeper or more consistent price drops than Florida’s.

The median price of a listed, single-family home in Florida has declined year-over-year every month since March 2024. As of February 2026, the most recent month of available data, a typical Florida home was listed for $425,000, about 7.4% – or $34,000 – less than the median list price in February 2024. The statewide decline in list prices has been driven largely by cratering home prices in major metropolitan areas along the coast – places that will be exposed to sea-level rise and regular flooding in the coming years and decades. 

Florida has the longest shoreline of any state in the Lower 48, with over 3,300 miles along the Atlantic and over 5,000 miles along the Gulf. Projections indicate that some of the worst sea-level rise in the U.S. will likely impact these areas. The risks posed by climate change in Florida are only expected to intensify in the coming years, and according to a report from Realtor.com, home prices across the state are projected to continue to fall in 2026.

Using historical list price data from Realtor, Climate Crisis 247 identified the housing markets in coastal Florida where prices have fallen the fastest in the last two years. We reviewed median list prices of single-family homes in 28 Florida metro areas and ranked them on relative declines between February 2024 and February 2026. Inland metro areas were excluded from analysis. Supplemental data on projected local sea-level rise and flood risk are from Climate Central’s Coastal Risk Finder tool. All supplemental housing market data is from Realtor. 

Among the nine metro areas in coastal Florida on this list, home prices have fallen by anywhere from 6.8% to 16.2% in the last two years. In some places, homes are now selling for at least $50,000 less than they were in early 2024. These housing markets are also defined, in part, by an increase in both the number of homes being put up for sale and the amount of time homes sit on the market waiting for a buyer. It may be no coincidence that sea-levels in these areas are projected to rise by as much as 2.3 feet before the end of the century, greatly increasing the risk of regular flooding. 

9. Jacksonville, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -6.8% (-$28,000)
• Median list price: $382,000 in Feb. 2026, $410,000 in Feb. 2024
• Flooding projections by 2050: at least one 2.7 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 7,478 (up 20.4% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 72 days (up 51% from Feb. 2024)

8. Port St. Lucie, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -6.9% (-$31,650)
• Median list price: $428,350 in Feb. 2026, $460,000 in Feb. 2024
• Flooding projections by 2050: at least one 2 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 4,514 (up 26.3% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 77 days (up 61% from Feb. 2024)

7. Sebastian-Vero Beach-West Vero Corridor, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -8.0% (-$38,000)
• Median list price: $437,000 in Feb. 2026, $475,000 in Feb. 2024
• Flooding projections by 2050: at least one 2.1 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 1,853 (up 21.0% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 80 days (up 65% from Feb. 2024)

6. Punta Gorda, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -8.8% (-$37,212)
• Median list price: $387,788 in Feb. 2026, $425,000 in Feb. 2024
• Flooding projections by 2050: at least one 2.4 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 3,780 (up 7.9% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 93 days (up 75% from Feb. 2024)

5. Panama City-Panama City Beach, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -8.8% (-$38,575)
• Median list price: $399,000 in Feb. 2026, $437,575 in Feb. 2024
• Flooding projections by 2050: at least one 2.5 ft. flood per year
• Expected local sea-level rise by 2100: 2.1 feet
• Active list count, Feb. 2026: 2,720 (up 19.6% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 95 days (up 89% from Feb. 2024)

4. Miami-Fort Lauderdale-West Palm Beach, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -9.1% (-$50,001)
• Median list price: $499,999 in Feb. 2026, $550,000 in Feb. 2024
• Flooding projections by 2050: at least one 1.9-2 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 47,114 (up 34.7% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 83 days (up 62% from Feb. 2024)

3. Crestview-Fort Walton Beach-Destin, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -10.5% (-$67,350)
• Median list price: $575,000 in Feb. 2026, $642,350 in Feb. 2024
• Flooding projections by 2050: at least one 2.4 ft. flood per year
• Expected local sea-level rise by 2100: 2.2 feet
• Active list count, Feb. 2026: 3,965 (up 14.1% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 94 days (up 87% from Feb. 2024)

2. Naples-Marco Island, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -14.2% (-$120,450)
• Median list price: $729,500 in Feb. 2026, $849,950 in Feb. 2024
• Flooding projections by 2050: at least one 2.3-2.4 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 7,083 (up 30.3% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 86 days (up 67% from Feb. 2024)

1. Cape Coral-Fort Myers, Florida

• Change in median list price, Feb. 2024 – Feb. 2026: -16.2% (-$77,100)
• Median list price: $399,900 in Feb. 2026, $477,000 in Feb. 2024
• Flooding projections by 2050: at least one 2.4 ft. flood per year
• Expected local sea-level rise by 2100: 2.3 feet
• Active list count, Feb. 2026: 12,677 (up 28.2% from Feb. 2024)
• Typical time a home spent on the market, Feb. 2026: 83 days (up 67% from Feb. 2024)