Florida’s housing market experienced a significant positive shift in August 2025, marked by a substantial increase in new pending sales. This surge is largely attributed to a welcome drop in mortgage rates, which has reignited buyer enthusiasm and activity across the state. The trend offers a breath of fresh air for both sellers and prospective homeowners.
Key Takeaways
- New pending sales for single-family homes saw a 9.9% year-over-year increase, the largest since November of the previous year.
- Condo and townhouse pending sales rose by 4.9%, marking the first positive year-over-year growth for this segment since October 2023.
- Falling mortgage rates are identified as the primary driver behind the increased buyer confidence and contract activity.
- While closed sales saw a slight year-over-year decrease, the rise in pending sales suggests a positive outlook for future closings.
- Median sales prices experienced a slight softening, indicating a potentially more balanced market.
Falling Rates Fuel Buyer Confidence
The primary catalyst for the uptick in new pending sales was the considerable decrease in mortgage rates observed in August. Chief Economist Dr. Brad O’Connor of Florida Realtors® highlighted this, noting that the decline in borrowing costs brought buyers back into the market with renewed vigor. This trend is expected to continue into September, with rates further dipping.
Performance by Property Type
Single-Family Homes: New pending sales for single-family homes experienced a robust 9.9% jump compared to August 2024. This represents the most significant year-over-year increase since November of the prior year, signaling a strong return of buyer interest in this segment.
Condos and Townhouses: The condo and townhouse market also showed positive momentum, with new pending sales increasing by 4.9% year-over-year. This is a notable development, as it’s the first time this property type has seen positive year-over-year growth in new pending sales since October 2023.
Market Snapshot: August 2025
Property Type | New Pending Sales (YoY Growth) | Closed Sales (YoY Change) | Median Sales Price (YoY Change) | Months’ Supply |
---|---|---|---|---|
Single-Family Homes | +9.9% | -3.9% | -0.4% | 5.3 months |
Condo/Townhouse Units | +4.9% | -6.0% | -6.5% | 9.3 months |
Median Prices and Inventory Levels
In August, the statewide median sales price for existing single-family homes was $410,000, a slight decrease of 0.4% from the previous year. For condo and townhouse units, the median price was $290,000, down 6.5% year-over-year. These modest price adjustments, coupled with a healthy supply of 5.3 months for single-family homes and 9.3 months for condos/townhouses, suggest a market that is becoming more balanced and affordable for buyers.
A Positive Outlook
The surge in new pending sales, driven by favorable mortgage rates, paints an optimistic picture for Florida’s real estate market. While closed sales reflect past contract activity, the current increase in pending sales indicates a strong pipeline for future transactions, suggesting continued activity and potential stability in the coming months.
Sources
- Florida Housing Market Sees a Major Shift With a Jump in Pending Sales, Norada Real Estate Investments.
- Fla.’s Housing Market: New Pending Sales Rise in August, | Florida Realtors.