Florida’s housing market strengthened in July, with closed sales rising for both single-family homes and condo-townhouse properties compared with a year earlier. New contracts also increased, suggesting buyers are returning despite mortgage rates that remain well above the affordability levels many households once expected.
Key takeaways
- Single-family home sales increased 5.1% year over year to 23,870 closings.
- Condo and townhouse sales rose 11% to 8,194 closings.
- New pending contracts climbed for both property categories.
- The single-family median price reached $425,000, while the condo-townhouse median remained $295,000.
- Inventory declined annually, tightening supply across the statewide market.
The July results extend a streak of 11 consecutive months in which closed sales increased year over year for both major property categories. New pending sales for single-family homes also recorded a 12th straight month of annual growth, an indication that the recent improvement may continue into the fall.
Buyers show renewed willingness to act
The latest figures are notable because mortgage rates have not delivered the major decline many prospective buyers have been waiting for. Florida Realtors Chief Economist Brad O’Connor said the results point to pent-up demand, with some households deciding that waiting for affordability to return to 2019 conditions is no longer realistic.
New pending sales of single-family homes rose 2.4% from July 2025, while pending condo-townhouse sales increased 3.8%. Because closings often occur weeks or months after contracts are signed, these figures could provide an early indication of future sales activity.
Condos gain ground as affordability matters
Condo and townhouse sales posted the stronger annual increase, although the category is recovering from additional pressure caused by regulatory changes, higher assessments and insurance challenges. The segment’s lower median price may also be attracting buyers focused on finding a more accessible path to ownership.
The statewide median price for existing single-family homes increased 3.7% to $425,000. The median condo-townhouse price was unchanged at $295,000, suggesting that buyers in that segment may still have comparatively more negotiating leverage.
Supply is tightening, but conditions remain uneven
Single-family inventory fell nearly 13.5% from a year earlier, while condo-townhouse inventory declined just under 13%. Even so, available supply remained higher for condos and townhouses, at 7.8 months, compared with 4.5 months for single-family homes.
The statewide picture does not apply uniformly to every Florida market. Local differences in inventory, insurance costs, property type and price range will continue to shape negotiations. Buyers and sellers may therefore need more targeted market data rather than relying solely on statewide averages.
A cautiously optimistic outlook
Florida Realtors President Chuck Bonfiglio Jr. described buyers as remaining engaged, while O’Connor characterized the broader outlook as cautiously optimistic. Rising sales, improving contract activity and firming single-family prices suggest that the market is gaining traction.
The next several months will show whether demand can remain resilient without a substantial reduction in mortgage rates. Continued growth in pending contracts, together with the pace at which inventory is absorbed, will be among the most important indicators of whether July’s momentum represents a durable recovery.
- Florida home sales rise for 11th straight month, | Florida Realtors.
- Fla.’s Housing Market: Closed Sales and New Pending Sales Rise in July, PR Newswire.
- Fla. Realtors Find July Sales Rise Despite Mortgage Rates, Law360.