NAPLES, Fla. - September 1, 2025 - Engel & Völkers Florida today announced the publication of its Mid-Year 2025 Luxury Real Estate Market Report, offering a detailed analysis of statewide luxury housing trends across both single-family homes and condominiums above $1 million. The findings point to a maturing market: statewide sales have moderated from the highs of recent years, inventory has expanded sharply, and timelines to close have lengthened—creating greater room for diligence and negotiation, especially in condominiums—while single-family values remain resilient.

“The Florida luxury real estate market is not collapsing, it’s transitioning,” said Peter Giese, CEO of Engel & Völkers Florida. “We’re seeing a more deliberate pace of transactions, with buyers afforded time to evaluate opportunities and sellers needing to price strategically and more realistically. This is a sophisticated phase of the market where expertise and enhanced marketing are critical to achieving the best results. The fundamentals that make Florida one of the most desirable places to live and invest remain strong, and we anticipate that as interest rates ease, more buyers will re-enter the market rapidly.”

Florida's single-family home market is slowing, with closed sales dropping from 176,767 in 2021 to 128,364 by mid-2025. Despite this, median sale prices rose to $414,728. Days to sale increased to 90.5 days, and inventory surged from 32,835 units in 2021 to 115,678, giving buyers more options. The luxury segment remains strong, with 12,204 closed sales by mid-2025. Median time to contract extended to 53 days, and inventory grew from 5,849 units in 2021 to 19,447, offering high-end buyers greater selection and time for consideration.

Statewide, condo sales halved from 86,481 in 2021 to 45,568 by mid-2025. The median price slightly decreased to $312,500, with longer sales times (103.5 days). Inventory surged, making it a buyer's market. The luxury segment mirrored this, with sales down to 3,222, longer contract times (73 days), and inventory nearly doubling to 7,628 units, indicating a strong buyer's market. Both segments emphasize that patience, strategy, and expert guidance are rewarded.

“Our specialty is in submarket specialization within the luxury segment, and our advisors and shops are not only immersed in this space but, in many cases, outperform the market locally,” Linzee Werkmiester, Vice President of Business Development & Performance at Engel & Völkers Florida. “This positions us to deliver valuable insight into the trends shaping Florida’s most desirable communities while also demonstrating how our worldwide network continues to lead the way in setting new standards of performance and service in luxury real estate.”

The complete Engel & Völkers Florida Mid-Year 2025 Luxury Real Estate Market Report, including a detailed breakdown by metropolitan statistical area (MSA) and commentary from select License Partners and Managing Brokers on their respective markets, is available digitally on issuu.com/evfloridapr. Hard copies of the report are available upon request by contacting Kait Weigelt, Marketing and Brand Manager, at Engel & Völkers Florida.