By Paul Waldmiller
Did you know that Florida house sellers are increasingly more desperate to sell their homes with up to 46% having major price cuts?
in major markets like Tampa Bay and North Port-Sarasota seeing price cuts as of mid-to-late 2026. This shift is driven by a glut of house-glut of inventory, soaring home and auto insurance premiums and HOA fees. As of late, higher interest mortgage rates have softened demand and stalled pandemic-era price growth.
Sellers are slashing prices by and average of $50,000-$10,000 plus, with some distressed sales in Southwest Florida resulting in up to a six-figure loss six-figure loss for owners who bought near the 2022 peak. Homes in areas like Cape Coral and Orlando are taking 60 or more days to go under contract, up from historical averages, giving buyers significant negotiating leverage.
In addition, to attract cautious buyers, sellers are offering closing costs credits and rate buydowns; alternatively, many are delisting properties to avoid accepting lower valuations, with Miami leading the nation in delisting rates.
Bottom line, it appears to be a buyer’s market for those who can financially afford to purchase a house. The market has flipped to favor buyers, with sellers outnumbering buyers, 2-to-1 in many metros, forcing sellers to price aggressively based on current comparables rather than past highs.