What Is the Cost of Selling a House in Florida?
Learn the cost of selling a house in Florida, including preparations, repairs, commissions, taxes, and other fees or closing costs. See expert agent tips.
If you’re like most homeowners in the Sunshine State, your house is likely your most valuable asset. When you decide to sell, it’s a major financial move, and you’ll want to keep as much of the proceeds as possible. But what is the cost of selling a house in Florida?
In this post, we’ve researched the typical expenses you can expect to pay and gathered expert selling tips from a top-rated Florida real estate agent.
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Housing trends in Florida
Like much of the country, Florida has seen a significant increase in home prices in recent years. However, according to the Florida Realtors Association, prices in the larger metro areas, such as Miami, Jacksonville, Orlando, and Tampa, are starting to decline, creating new market activity.
The median statewide single-family home sales price is currently $415,000, up 1.2% from $410,000 one year earlier. The state has 4.7 months of available inventory, a 34.3% increase over last year. For condo/townhouse units, Florida has a 7.7-month supply, up 67.4% year-over-year.
The days on market — the time from listing a home to having a signed purchase contract — can range between 70 to 80 days. However, in some regions of the state, the market has been influenced by forces outside of normal consumer choices.
“In Sarasota, we just went through a very active hurricane season like we never experienced before. It’s the first time we’ve had a direct hit in my lifetime. So there have been some [additional] opportunities on the buy-side of things,” says Brett Keyser, a top real estate agent in Sarasota with more than 17 years of experience.
“The market has been a little difficult to discern because a lot of people are trying to figure out their insurance claims,” he explains, adding that homeowners in other coastal areas are facing similar concerns. “[Disaster-affected] homeowners are trying to navigate what they’re able to do insurance-wise, and what they’re going to get back in their deductibles. And it goes into the 50% rule on how much they’re able to rebuild.”
