Florida’s housing market is currently favoring buyers, with recent data indicating an increase in both closed and pending sales across the state. This trend is accompanied by a noticeable easing of home prices, a welcome development for prospective homeowners after a period of rapid appreciation. Lower mortgage rates and continued population growth are cited as key drivers behind these shifts.
Key Takeaways
- Sales of both single-family homes and condos have seen year-over-year increases in key South Florida counties like Miami-Dade and Broward.
- Median home prices in these areas are experiencing year-over-year decreases, signaling a market correction.
- Inventory levels in some areas, particularly for condos, indicate a strong buyer’s market.
- Nationally influenced factors like lower mortgage rates and inbound migration continue to shape the Florida market.
South Florida Market Dynamics
In December 2025, South Florida experienced a notable rise in residential sales, with Miami-Dade and Broward counties reporting year-over-year increases. Miami-Dade saw a 5.9% overall sales increase, with single-family home sales up 3.7% and condo sales up 7.9%. Broward County reported a 7.9% total home sales increase, driven by a 10.6% rise in single-family home sales and a 5.2% increase in condo sales. This surge is attributed to lower mortgage rates and continued affluent migration to the region.
Price Corrections and Inventory Levels
Following the pandemic-era surge, home prices in South Florida are now correcting. Miami-Dade saw median single-family home and condo prices decrease by just over 2% year-over-year. Broward County experienced a more significant drop in median condo prices (9.3%) and a slight decrease in single-family home prices (just under 1%). Miami-Dade’s condo inventory stood at approximately 13 months in December, a strong indicator of a buyer’s market, while the single-family home market was more balanced with about six months of supply.
Statewide Trends and Influencing Factors
Across Florida, November 2025 data from Florida Realtors showed a 3.4% year-over-year increase in single-family home closed sales and a 1.6% rise in condo sales. New pending sales also saw increases, with single-family homes up 2.7% and condos/townhouses up 5.2%. These positive trends are linked to buyers responding to lower mortgage rates. Statewide median prices showed slight year-over-year declines: single-family homes were down 0.2% to $410,000, and condos/townhouses were down 3.8% to $299,320. Inventory levels were at 4.9 months for single-family homes and 9.4 months for condos.
High-End Market Activity
Interestingly, the luxury segment of the market also saw robust activity. In 2025, South Florida recorded 361 home sales of $10 million or more, nearing the all-time high set in 2021. In Miami-Dade, sales of homes priced at $1 million and above increased, with single-family home sales in this category up 12% and condo sales up 2.45%. Broward County also saw strong performance in its luxury market, with single-family home sales over $1 million rising by 16%.
Sources
- Home prices are falling as sales are rising in South Florida, Miami Herald.
- Fla.’s Nov. Housing: More Closed, Pending Sales, | Florida Realtors.
- Fla.’s Oct. Housing: Sales, Supply Up; Prices Ease, | Florida Realtors.
- Fla.’s Aug. Housing Market: New Pending Sales Up, Florida Realtors.
- South Florida home sales in December 2025 from Florida Realtors, The Business Journals.