Even in a region such as South Florida, relatively well-stocked with modern single family homes from the mid-century to today, the market share for this type of architecture is relatively small: under 3 percent of the overall SFH market. But it is driven by dedicated and sophisticated fans – both owners and buyers.
Prices for modern homes moving mostly in tandem with the regional housing market, but experience from the last 15 or 20 years shows modern architecture fetching a premium. Covid-19 and the resulting massive influx of wealthy buyers, mostly from the Northeast US, drove up prices further.
The chart below gives you an overview of listing and selling prices per sf (median per quarter). Fascinating is the spread between asking prices for all modern homes for sale (blue) and the asking prices of those modern homes that sold (orange):
Note the massive gaps in the last quarter '22 and also the first quarter '23: overall "aspirational" asking prices for modern homes (blue) are barely nudging, but realistic asking prices lead to a sale (orange). Translated: many sellers are still in lala-land, while buyers put pen to paper only when the price is right. Big surprise.
For your inner geek or the statistician who likes details, here is the underlying table:
For any questions, even more detail or a market analysis of a specific home you consider selling or buying, based on proprietary modern home market data for Southeast Florida, do contact me anytime.
How is the Housing Market for Modern Homes by Tobias Kaiser, CC BY-NC-ND incl. Data and Chart
Tobias Kaiser works as an independent real estate broker and consultant in Florida since 1990. Always putting his clients' interest first, he specialises in modern Florida homes and architecture, as well as net leased investments.