Florida’s housing market continued its upward trajectory in May, marking the ninth consecutive month of year-over-year gains in closed sales for both single-family homes and condominiums. This sustained growth indicates a resilient market, even as fluctuating mortgage rates influence buyer decisions. New pending sales also saw an increase, suggesting the positive trend is likely to persist into the summer months.
Key Takeaways
- Consistent Growth: Florida experienced its ninth consecutive month of year-over-year increases in closed home sales.
- Property Type Performance: Single-family home sales rose by 0.6%, while condo and townhouse sales saw a more significant increase of 6.6%.
- Pending Sales Momentum: New pending sales for single-family homes increased by 4.8%, and for condos/townhouses by 9%, signaling continued market activity.
- Median Prices: The median sales price for single-family homes rose 2.4% to $425,000, while condo/townhouse prices saw a slight decrease of 1% to $306,990.
- Inventory Levels: Active listings decreased year-over-year for both property types, indicating a tightening supply.
- County-Specific Trends: Broward County experienced its third consecutive month of year-over-year sales gains, with a notable surge in million-dollar transactions.
Market Performance in May
In May, Florida recorded 24,915 closed sales of existing single-family homes, a 0.6% increase compared to May 2025. Condominium and townhouse sales reached 8,897, marking a more substantial 6.6% rise year-over-year. This consistent growth streak provides valuable insights for buyers and sellers navigating the current market conditions.
Factors Influencing the Market
Florida Realtors Chief Economist Dr. Brad O’Connor highlighted that the direction of sales remains heavily influenced by mortgage rates. While inflation has kept rates elevated, a potential decrease in the coming months could further bolster sales figures. The increase in new pending sales, particularly the 9% rise for condos and townhouses, suggests that the positive trend in closed sales is likely to continue.
Median Prices and Inventory
The statewide median sales price for single-family existing homes in May was $425,000, up 2.4% from the previous year. Conversely, the median price for condo and townhouse units saw a slight decrease of 1%, settling at $306,990. Active listings for both property types were down year-over-year, with single-family homes having a 4.7-month supply and condos/townhouses an 8.6-month supply, indicating a seller’s market in some segments.
Broward County Highlights
Broward County demonstrated strong performance, with total home sales increasing by 0.9% year-over-year. Single-family transactions rose by 3.2%, and condominium sales increased by 5.4%. A significant trend in Broward was the surge in sales of homes priced at $1 million and above, which climbed 17.6%. This growth is attributed to factors like domestic migration and regional connectivity, with New York, California, and New Jersey being top feeder states.
Outlook for Summer
Florida Realtors President Chuck Bonfiglio noted that strong pending sales and continued buyer and seller engagement are encouraging signs. As inventory levels improve and consumers have more options, opportunities are emerging for well-informed participants in the market. The sustained growth suggests a positive outlook for the Florida housing market heading into the summer.
Sources
- Florida home sales rise for ninth straight month, | Florida Realtors.
- Florida’s Closed and Pending Home Sales Increased in May, Weekly Real Estate News.
- Fla.’s Housing Market: Closed and New Pending Sales Up in May, PR Newswire.
- Florida home sales, prices show further signs of picking up in 2026, Daytona Beach News-Journal.
- Broward County Home Sales Rise for Third Consecutive Month as Million-Dollar Transactions Surge — RISMedia, RISMedia.