While listing prices have fallen, another important number has been on the rise: number of homes on the market.
Home prices in the largest master-planned community in the country, The Villages, have steadily declined over the past four years, despite the idyllic lifestyle it promises.
Inside the Central Florida community, which is home to over 150,000 residents, median home prices peaked in 2022 in the wake of the COVID-19 pandemic. In 2022, the median listing price for a home in The Villages hit a 10-year high of $436,850, a nearly $100,000 jump from the prior year, according to Realtor.com® listing data.
After four years of steady decreases, the median listing price as of August 2026 is $377,784.
While listing prices have fallen, another important number has been on the rise: number of homes on the market.
In 2022, while home prices were skyrocketing, the number of homes for sale in The Villages hit a 10-year low of 153, according to Realtor.com listing data. The number of available homes increased to hit a high of 651 in 2025, coming down slightly this year to 586 in August 2026.
These numbers show a clear story of supply and demand bringing housing prices down.
The population of The Villages has grown exponentially in the past two decades. Now, many residents who bought around the same time are ready to move on.
“In a retirement community when people purchased 20 years ago, we’re seeing this shift of people who are no longer able to maintain the house that they bought when they were 60 and now they’re 80,” Zach Hale of Team Dunn Sold tells Realtor.com.
“That natural progression of people who are going to be aging out of the houses they bought is going to happen in any 55-and-older community. But here, we’ve got this massive influx of people who all bought at the same time and are now needing to sell at the same time.”
Two of the most common reasons a house in The Villages goes on the market is because the owner died and the children don’t want to keep the property, or the owner is moving to be closer to family or medical care, according to Hale, who specializes in home sales in The Villages.
This progression means that new homes are constantly becoming available, keeping a steady inventory for potential new residents to choose from.
The strong supply is compounded by The Villages’ developer, which is consistently building and adding new homes to the market.
“They do continue to do a lot of new construction, and with them continuing to put new-construction homes on the market, it just adds to the total supply,” Scout Eveleth, Realtor® at Scout The Villages, tells Realtor.com.
“Even if the demand stays the same, when you’re adding lots of new inventory, both resale inventory and the new-construction inventory, if demand stays the same but supply increases, prices are ultimately going to come down.”
While listing prices have fallen, another important number has been on the rise: number of homes on the market. (stock image) (Getty Images) However, the presence of new homes sold by the developer doesn’t pose a strong challenge to residents who list their homes, as a number of factors determine whether a potential resident wants a new or previously owned home.
Location can be an important deciding factor, according to Shannon Lee Sanford of Reality Executives in The Villages. All of the new construction is taking place at the south end of the community, but many new residents want to be close to friends and family who are already living in The Villages, so they choose to purchase a previously owned home nearby.
“Friends and family who live here, buy here. I would never go down 35 minutes from my parents. I want to be within the same couple blocks,” Sanford tells Realtor.com.
Additional factors, such as wanting to personalize a newly constructed home or wanting to take advantage of upgrades made by previous owners, help buyers determine whether to buy privately or from the developer.
Ultimately, The Villages’ falling home prices in recent years are a correction of the massive jump the prices made during the pandemic, Eveleth explains.
“It really has to do with a rebalancing period. If you go back a couple years, that was when the market was really crazy. Three to four years back, it was one extreme, and now it’s sort of like a pendulum,” he says. “It just took a few years to swing back the other way, but it never swings quite as far.”