Florida’s housing market demonstrated robust growth in March and the first quarter of 2026, with significant year-over-year increases in both closed sales and new pending sales. This positive trend indicates a strengthening market with motivated buyers and improved inventory levels, signaling a more balanced and sustainable real estate environment across the state.
Key Takeaways
- Closed sales for existing single-family homes rose 5.9% in March and 5.3% in Q1 2026.
- Condo and townhouse closed sales saw even stronger gains, up 12% in March and 9% in Q1 2026.
- New pending sales also increased, with single-family homes up 3.3% in March and 7.1% in Q1, while condo-townhouse pending sales jumped 9.6% in March and 11.6% in Q1.
- Median prices for single-family homes saw modest increases, while condo-townhouse prices remained stable or slightly decreased.
- Improved mortgage rates in early 2026 compared to the previous year contributed to the sales surge.
March and First Quarter Sales Performance
In March 2026, Florida recorded 24,497 closed sales for existing single-family homes, a 5.9% increase compared to March 2025. The condo-townhouse sector also performed well, with 9,423 closed sales, marking a substantial 12% rise year-over-year. These positive trends continued into the first quarter, with 59,174 single-family home sales (up 5.3%) and 22,567 condo-townhouse sales (up 9%).
Florida Realtors Chief Economist Dr. Brad O’Connor attributed the strong first quarter performance partly to more favorable mortgage rates in early 2026 compared to the elevated rates experienced in the first quarter of 2025. While rates saw a slight increase in March due to global oil prices, their impact on March closings was minimal as most buyers had already locked in their rates.
Median Sales Prices and Inventory
The statewide median sales price for existing single-family homes in March stood at $420,000, an increase of 1.8% from the previous year. For condo-townhouse units, the median price was $315,000, remaining unchanged year-over-year. Looking at the first quarter, the median price for single-family homes was $415,000 (a 0.1% increase), and for condo-townhouse properties, it was $310,000 (a 1.6% decrease).
Inventory levels, measured in months’ supply, were 4.8 months for single-family homes and 9.1 months for condo-townhouse properties in March and Q1 2026. While inventory dipped compared to the previous year, the rise in pending sales suggests a market that is becoming more balanced.
Factors Driving Market Growth
Beyond mortgage rates, rising incomes are helping to bridge the affordability gap for potential buyers. Additionally, life events often necessitate home sales and purchases, contributing to ongoing market activity. Florida Realtors President Chuck Bonfiglio highlighted that the market is moving towards a more balanced and sustainable direction, with improved inventory providing buyers with more choices and steady price trends.
Sources
- Fla.’s Housing Market: Closed & New Pending Sales Up in March, 1Q, PR Newswire.
- Florida Home Sales Continue to Rise, Weekly Real Estate News.