Florida’s housing market is showing signs of stabilization as summer approaches, with sales continuing to rise for the eighth consecutive month. While inventory levels are increasing and nearing pre-pandemic norms, the market’s trajectory for the remainder of 2026 remains uncertain, potentially mirroring either the steady conditions of 2019 or the market softening seen in 2025.
Key Takeaways
- Closed single-family home sales increased by 2.4% year-over-year in April, marking the eighth consecutive month of gains.
- New pending sales, a leading indicator, surged by 8% for single-family homes and 14.7% for condos and townhouses.
- Statewide inventory for single-family homes is only slightly above April 2019 levels, while condo and townhouse inventory is up nearly 16%.
- The median price for single-family homes rose 1.8% to $420,000, while condo and townhouse prices remained stable at $315,000.
- Regional variations exist, with Martin County seeing its median home price peak, while St. Lucie and Indian River counties experienced slight dips.
Market Dynamics Shifting
Florida Realtors Chief Economist Dr. Brad O’Connor notes that the state’s housing market is at an inflection point. A key metric to watch is the time it takes for homes to go under contract. In April, single-family homes spent a median of 44 days on the market, similar to April 2019 and April 2025. The direction taken in the coming months will determine whether inventory tightens, potentially pushing prices up, or if homes sit longer, giving buyers more negotiating power.
Inventory Levels Normalize
Contrary to fears of a market crash, statewide housing inventory is stabilizing and resembles conditions from 2014-2020 more than the post-2008 foreclosure crisis. Single-family home supply is just over 7% higher than in April 2019. Condo and townhouse inventory is up nearly 16% compared to the same period. This increase in inventory is partly due to homes staying on the market longer as activity normalizes, rather than a dramatic surge in new listings.
Sales Momentum Continues
April data indicates a sustained upward trend in home sales. Single-family closed sales reached 24,129, a 2.4% increase from the previous year, and condo and townhouse sales saw a more significant jump of 6.9% to 9,309. Pending sales, which often predict future closings, showed strong growth, with single-family pending sales more than doubling the gains seen in the preceding two months. This suggests the positive sales trend is likely to continue into May and June.
Regional Differences Emerge
While statewide trends show stabilization, local markets exhibit variations. In Martin County, the median sale price reached $650,000 in April, a $50,000 increase from the previous year, driven by factors like quality of life and access to amenities. Conversely, St. Lucie and Indian River counties saw their median sale prices decrease slightly. Across the Treasure Coast, closed sales rose in all three counties, while active inventory fell, indicating a tighter market and increased buyer competition in these areas.
Sources
- Florida housing market at inflection point as summer approaches, economist says, | Florida Realtors.
- Florida housing inventory near pre-pandemic norms, economist says, | Florida Realtors.
- Florida home sales rise again in April, | Florida Realtors.
- Florida real estate market sees home prices peak in Martin County, Treasure Coast News.
- Closed and new pending sales in Florida rise in April | Keys Homes, keysnews.com.