Florida homebuyers are scoring deals — but prices remain high

Why it matters: Still-high mortgage rates and home prices have sidelined many shoppers. But those who remain in the market are scoring the biggest deals in years.

The big picture: Nationwide, the average discount was nearly 8%, the largest such gap since 2012.

• Roughly 62% of homebuyers last year paid less than the listing price, the highest share since 2019, Redfin data shows.

Zoom in: The trend was especially apparent in Florida.

• That's due to a homebuilding boom that has boosted supply, intensifying hurricanes, and steep insurance and HOA costs that have pushed sellers to offer concessions, per the report.
• West Palm Beach (10.9%) and Fort Lauderdale (10.3%) had the biggest discounts among the 50 most populous metro areas. Miami (9.8%) and Tampa (9.6%) were ranked fifth and sixth.

Reality check: Homes still fetch historically high prices.

• In 2025, the national median sale price for an existing single-family home was $419,300, up around 2% from 2024, according to the National Association of Realtors.
• January sales plunged as elevated prices, economic jitters and cold weather weighed on buyers.

What they're saying: "Homebuyers in 2026 shouldn't write off homes that are slightly above their budget because there's a good chance they'll get some sort of concession from the seller, be it a price cut, money toward closing costs or funds for repairs," said Redfin senior economist Asad Khan in the report.

• That's a big reversal from the pandemic, when sellers didn't have to offer sweeteners because bidding wars sent prices soaring far above asking in many places.

What we're watching: Not all sellers have adjusted to the fact that demand has fallen since then, according to Redfin.

• Some would rather take their listings off the market than slash prices.