Florida’s housing market eased in August, with closed sales slipping modestly after a long stretch of year-over-year gains. Yet shrinking inventory helped prices remain resilient: single-family home and condo prices both rose compared with a year earlier. Florida Realtors’ chief economist described the latest figures as signs of a market leveling off, not a sharp reversal.
Key takeaways
The August data show a market where fewer homes are available even as sales growth loses momentum. Key points include:
- Single-family home sales fell about 1.5% year over year; condo and townhouse sales declined just under 2%.
- The single-family median price reached $415,000, up just over 1% from August 2025.
- The condo and townhouse median rose nearly 3% to just under $298,000.
- Inventory dropped by double digits in both categories.
Prices rose as sales slowed
The single-family median price posted its sixth consecutive year-over-year increase. Condo and townhouse prices also advanced, despite slight declines in closed sales. The combination reflects how prices can hold up when the supply of homes for sale tightens, even if fewer transactions are being completed.
The sales dips ended 11-month runs of year-over-year gains in both property categories. New pending sales of single-family homes also declined, ending a 12-month streak of gains. By contrast, pending condo and townhouse sales edged higher, extending their growth streak to 13 months.
Inventory tightened across property types
At the end of August, single-family inventory was 13% lower than a year earlier and below its August 2024 level. Condo and townhouse inventory fell 11.5% year over year, approaching its level from two years ago. That supply contraction helped support prices as buyers faced fewer available options.
Statewide figures do not capture every local market. Conditions can differ by community, price range and property type, so the overall trend may not reflect what buyers and sellers experience in a particular area.
Mortgage costs remain a constraint
Mortgage rates stayed within a 6% to 7% range for much of 2025 and 2026 and were higher than a year earlier. The change has not amounted to a dramatic shift in affordability, but it has been enough at the margin to slow sales growth, according to Florida Realtors Chief Economist Brad O’Connor.
Taken together, steady prices, falling inventory and modest sales declines suggest a market settling into a slower pace. Affordability challenges remain, while renewed migration and activity from buyers and sellers who had delayed decisions may continue to shape demand.
- Tight inventory helps Florida prices hold firm, | Florida Realtors.
- Florida home prices hold firm in August, | Florida Realtors.
- Florida housing market levels off in August, Florida Trend.