Florida’s housing market showed a split picture in September: statewide prices and inventory remained relatively steady, but single-family sales fell for a second consecutive month as mortgage rates rose. Third-quarter sales were slightly higher than a year earlier, while buyer-friendly conditions in several major metros highlighted how local markets are diverging.
Key takeaways
- September single-family sales declined 3.5% year over year; condo and townhouse closings were nearly unchanged.
- The statewide single-family median price rose 1.2% to $415,000, while the condo-townhouse median slipped 1.8% to $293,500.
- Third-quarter sales increased modestly, even as higher mortgage rates weighed on momentum.
- Redfin’s September analysis found sellers outnumbered buyers in all six Florida metros it tracked.
Statewide sales slow, but prices hold
Florida recorded 20,537 existing single-family home sales in September, down 3.5% from a year earlier. Condo and townhouse sales totaled 7,179, nearly level with September 2025. New pending sales also weakened: single-family pending transactions fell more than 7.5%, and condo-townhouse pending sales dropped 3.5%.
Prices remained comparatively firm for detached homes. The $415,000 median was the seventh consecutive month of year-over-year gains. By contrast, the condo-townhouse median decreased to $293,500. Total dollar volume rose nearly 7% for single-family homes and 8.5% for condos and townhouses, a gain Florida Realtors’ chief economist Brad O’Connor linked in part to stronger performance among luxury and near-luxury properties.
Third-quarter results offer a steadier view
The quarterly figures were somewhat stronger than September’s monthly sales totals. Existing single-family sales reached 65,904 in the third quarter, up 0.2% year over year, while condo-townhouse sales rose 3.1% to 22,664. The single-family quarterly median was $420,000, up 2.4%; the condo-townhouse median held at $295,000.
Supply stood at 4.4 months for single-family homes and 7.7 months for condo-townhouse properties. Florida Realtors described inventory and prices as relatively stable, while noting that homes generally moved faster than a year earlier. These statewide measures can mask substantial differences among communities and property types.
Regional conditions favor buyers in many metros
The statewide picture contrasts with Redfin’s analysis of September buyer-seller balances, which found sellers outnumbered buyers in each of the six Florida metro areas it examined. Miami had the largest reported gap, with 158.9% more sellers than buyers; Orlando, Fort Lauderdale and Tampa also showed substantial seller surpluses. Redfin attributed some of the shift to added construction and softer demand, alongside affordability pressures such as insurance and association costs.
Higher mortgage rates have been a central headwind. O’Connor said rates’ rise this year was enough to interrupt modest sales growth, although the broader trend has not changed dramatically. Florida’s market, then, is losing momentum rather than collapsing: conditions may give buyers more room to negotiate in some regions, while stable statewide prices and stronger luxury activity offer support.
- Florida housing market holds steady in September, | Florida Realtors.
- Sept./Q3 2026: Prices, Inventory Hold Steady, | Florida Realtors.
- Fla.’s Housing Market Continues Recent Trends in Sept. and 3Q 2026, PR Newswire.
- FL Housing Market Shifts As Buyers Gain An Advantage Not Seen In Years, Patch.
- South Florida home sales fall as mortgage rates top 7%, The Business Journals.