Send us a text

Check out the RPSP May 2025 Market Report

Some solid news for a market which has been struggling over the last several months or the first part of 2025.  Some glimmers of hope for moving properties and increased interest from out of state buyers.  

Also, an interesting discussion about Days on Market (DOM):  What really gets measured here?  What's missing about DOM as an indicator?  Listen and David and Julie discuss the metric, intriguing!!

Key Market Takeaways

• Closed Sales:
  1,014 single-family homes sold — a 3.5% increase from May 2024.
• Median Sale Price:
  $460,000 — down 5.2% from last year, but still up from earlier months in 2025, signaling a rebound from a slow winter.
  ➤ Hosts attribute lower median to flooded properties and fewer luxury sales, not overall value loss.
• Average Sale Price:
  $607,000 — the highest since August 2024 (pre-hurricane), suggesting recovery in higher-end market.
  ➤ Still down 6% YoY, but improving.
• Pending Sales:
  1,005 pending — a 7.3% increase YoY, indicating rising buyer activity and summer momentum.
• New Listings:
  1,365 — flat compared to last year and slightly down from recent months.
  ➤ Suggests slowing inventory growth, which is positive given buyer demand.
• Active Listings & Absorption Rate:
  4,182 active listings — still 40% higher YoY.
  ➤ Absorption rate remains at 5 months, showing a strong buyers market
• Time to Contract:
  Median = 32 days
  ➤ Hosts caution that this stat only includes homes that sold — not aging listings.
  ➤ Real-time buyer experiences show many homes are lingering on the market 60–100+ days due to overpricing or condition issues.

🏡 Market Observations & Commentary

• The slow winter (Jan–Mar) is giving way to a more active spring/summer market.
• Buyers are still active, especially from out of state (PA, MA, NC), countering narratives that people are fleeing Florida.
• Homes not selling quickly may be overpriced or outdated — but many nice homes are simply sitting longer due to buyer hesitation or inventory saturation.
• Sellers should be realistic: if you're past 30–40 days, it's time to reassess.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!