The Fort Lauderdale, FL metro area housing market in January 2025 presents a complex landscape characterized by rising prices and declining sales activity. The Median Sales Price has increased to $460,000, marking a modest year-over-year (YoY) growth of 1.1%. In contrast, the Median List Price has surged by 8.6% YoY, reaching $450,000, indicating a widening gap between seller expectations and buyer willingness.

Price Per Square Foot metrics further illustrate this trend. The median Price Per Square Foot stands at $305.84, reflecting a 3.7% YoY increase. Meanwhile, the Median List Price per square foot has risen by 4.5% YoY to $322.94. These figures suggest that while sellers are optimistic about pricing, buyers are more cautious, potentially due to economic factors or affordability concerns.

Sales activity has notably declined, with Homes Sold decreasing by 8.2% YoY to 1,574 units. Pending Sales have also dropped by 12.5% YoY, totaling 2,321. This downturn in sales is juxtaposed with a 4.5% YoY increase in New Listings, which now number 4,502. The inventory has expanded significantly, up by 28.7% YoY to 16,342 homes, contributing to a substantial increase in the Months of Supply, which has tripled YoY to 10.4 months. This indicates a shift towards a buyer's market, where supply outpaces demand.

The Median Days on Market have extended by 27.0% YoY to 92 days, suggesting that homes are taking longer to sell. The average sale to list ratio has slightly decreased by 0.9% YoY to 95.0%, indicating that homes are selling closer to their list prices, but not exceeding them. The sold above list ratio has dropped by 5.2% YoY to 5.8%, further emphasizing the reduced competitive bidding environment.

Price adjustments are becoming more common, with 26.9% of listings experiencing Price Drops, a 1.8% YoY increase. Additionally, the percentage of homes going off the market within two weeks has decreased by 6.8% YoY to 15.1%, reflecting a slower market pace.

Overall, the Fort Lauderdale housing market in January 2025 is characterized by rising prices and increased inventory, coupled with declining sales and extended market times. This environment suggests that buyers may have more negotiating power, while sellers may need to adjust expectations to align with current market conditions.