Asking prices for properties in Miami, Fort Lauderdale and Palm Beach fell by an average of around 15 per cent last month, according to ZipRealty.
The company claimed that the drop in house prices is far higher in the Sunshine State than anywhere else in the country.
Dan Johnson, director at TheMoveChannel.com, said that the reduction in property prices is due to an excess of stock on the market, but UK buyers may seize the opportunity to purchase a Floridian home.
"[Looking] at the properties that are available and how far the prices have fallen from their peak of two or three years ago, it is incredible what you can buy for your money over there," he commented.
Anyone looking to buy a holiday home in the state may want to enjoy a holiday while viewing some of the properties first-hand - making
travel insurance a necessary purchase.
Mr Johnson added that prices in the state now represent good value because property values are likely to be close to the bottom of the market.
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