Florida’s housing market kicked off the spring season with robust performance in March and the first quarter of 2026. Data from Florida Realtors reveals significant year-over-year increases in both closed sales and new pending sales across the state. This upward trend indicates a healthy and increasingly balanced market, with buyers actively engaged and inventory showing signs of improvement.
Key Takeaways
- Increased Sales Activity: Both closed and new pending sales saw notable year-over-year growth in March and the first quarter of 2026.
- Balanced Market: The market is moving towards a more sustainable direction, with improved inventory and relatively steady price trends.
- Mortgage Rate Influence: Lower mortgage rates in early 2026 compared to 2025 contributed to the surge in sales, though recent increases due to global oil prices had minimal impact on March closings.
- Steady Pricing: Median sales prices for single-family homes saw modest growth, while condo-townhouse prices remained stable or saw slight declines.
March and Q1 Sales Performance
In March 2026, Florida experienced a 5.9% year-over-year increase in closed sales for existing single-family homes, totaling 24,497. Existing condo-townhouse sales also rose by 12%, reaching 9,423. For the first quarter of 2026, single-family home sales were up 5.3% to 59,174, and condo-townhouse sales increased by 9% to 22,567.
Florida Realtors Chief Economist Dr. Brad O’Connor highlighted that March marked the seventh consecutive month of rising closed sales in both property categories. He attributed the strong first quarter performance partly to lower mortgage rates in early 2026 compared to the elevated rates in the first quarter of 2025.
Pending Sales and Inventory
New pending sales, a leading indicator of future closed sales, also showed positive momentum. In March, new pending sales for existing single-family homes increased by 3.3% year-over-year, and for condo-townhouse units, they rose by 9.6%. The first quarter saw even stronger growth, with single-family pending sales up 7.1% and condo-townhouse pending sales up 11.6%.
Dr. O’Connor noted that rising incomes and life changes prompting home sales are factors contributing to the growth in pending sales, suggesting continued market expansion beyond mortgage rate fluctuations.
Median Sales Prices and Inventory Levels
The statewide median sales price for existing single-family homes in March was $420,000, a 1.8% increase from the previous year. For condo-townhouse units, the median price was $309,000, remaining the same as a year ago. In the first quarter, the median price for single-family homes was $415,000 (up 0.1%), and for condo-townhouses, it was $310,000 (down 1.6%).
Inventory levels, measured in months’ supply, saw a slight dip in March and Q1 compared to the previous year. Single-family homes had a 4.8-month supply, while condo-townhouse properties had a 9.1-month supply.
Sources
- Fla.’s Housing Market: Closed & New Pending Sales Up in March, 1Q, PR Newswire.
- Fla.’s Nov. Housing: More Closed, Pending Sales, | Florida Realtors.
- Fla.’s Feb. Housing: Closed, New Pending Sales Up, | Florida Realtors.