Miami Home Prices Slide Fast

By Douglas McIntyre  •  October 2, 2025
Jonathan Meyer Pexels

Realtor.com has released its home price and sales data for September. Home prices remained flat at $425,000 in the same month a year ago. However, among homes for sale, owners have started to drop prices. About 20% of those for sale dropped in price. The inventory of homes for sale rose 17%, which should be an advantage for buyers.

“September’s trends show a housing market increasingly tilting in buyers’ favor, with a rising inventory of homes for sale, longer days on market, and more competitive pricing,” said Danielle Hale, chief economist at Realtor.com.

There was a large range of home prices across the top 50 markets. Home prices in several markets dropped year over year. None dropped more than Miami, down 4.8% to $499,900 as the median price of homes for sale. The percent drop was matched in LA, where prices dropped by the same percentage to $1,099,000

Florida had three other cities on the list. Prices in Jacksonville dropped 2.5% to $394,500. In Tampa, prices were down 1.2% to $412,450. In Orland, they fell 2.7% to $420,0500

Cheaper Homes In The North

At the other end of the spectrum, most prices of homes for sale in northern industrial cities, where homes are less expensive, rose. In Cleveland, the median sale price rose 2.6% to $259,950. In Pittsburgh, they were up 4.3% to $254,90. In Milwaukee, the median sale price rose 6.3% to $399,000. In Grand Rapids, the median sale price rose 5.8% to $397,905.

There is a theory about the pattern of home prices, although it has not been proven. It is called reverse migration. People are leaving Florida cities because of storms and the skyrocketing insurance rates they trigger. They are moving north to cities that rarely have violent climates and where homes are more affordable.

It will take a few years to prove this theory true.

  1. Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
  2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!
More from ClimateCrisis 247

Similar Posts