Florida’s July Housing: Median Prices, Sales Down
Florida Realtors’ data: No major shifts in trends seen in past months, as economic uncertainty and mortgage interest rates hovering around 6.5% remain factors.
ORLANDO, Fla. — Florida’s housing market in July mirrored trends seen over the past several months with no significant shifts, according to Florida Realtors®’ latest housing report, as buyers and sellers alike pull back amid economic uncertainty and mortgage interest rates fluctuating near 6.5%. Closed sales of single-family existing homes statewide last month dropped 2.8% compared to July 2024.
“The real estate market in Florida continues to show incredible resiliency and is balanced exceptionally well. Buyers have options to choose from when searching for a home and we continue to see strong demand for the Florida lifestyle,” said 2025 Florida Realtors® President Tim Weisheyer, broker-owner, Dream Builders Realty and dbrCommercial Real Estate Services in Central Florida. “The value of working with a Realtor® is ever-present and their expertise in pricing, negotiating and facilitating real estate transactions is exactly what sellers and buyers need as we navigate the market.”
Last month, closed sales of existing single-family homes statewide totaled 22,707, down 2.8% year-over-year, while existing condo-townhouse sales totaled 7,381, down 11.8% over July 2024, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
Looking at new pending sales – the measure of how many homes for sale went under contract during the month – Florida Realtors Chief Economist Dr. Brad O’Connor said there was a decline in new pending sales for single-family homes in July, but only by 0.7%.
“This may reflect the mild downward movement in mortgage rates that has accompanied weaker labor market data in recent weeks,” he said. “Interest rates on 30-year fixed-rate mortgages have been closer to 6 1/2% than 7% as of late. There is a lot of latent demand waiting for home purchases, if only affordability could improve enough. While we may still have a way to go for that, July’s decline in new pending sales is certainly an improvement over our 2.3% decline for the year overall. Over in the condo and townhouse category, new pending sales were down by 6.3%, but that is drastically better than the nearly 12% decline we've seen year-to-date.”
The statewide median sales price for single-family existing homes in July was $410,000, down 1.7% compared to a year ago, while the statewide median price for condo-townhouse units was $295,000, down 6.3% from July 2024. The median is the midpoint; half the homes sold for more, half for less.
“Despite this being the fifth consecutive month we've seen year-over-year declines in the statewide single-family home median prices,” O’Connor said, “July marked the smallest drop in percentage terms among those months – and for the year overall, the single-family median price is also down by the same amount, 1.7%. So, it doesn’t appear that price declines are accelerating at a statewide level for single-family homes.
As for condos and townhouses, he noted, “July represents the fourth straight month we've seen at least a 6% year-over-year decline in median price, but it was an improvement over June's drop of 7.7%. Still, price declines in these recent months have been larger than what we saw early in the year, which is why the year-to-date median price in this category is down a little over 4.5% compared to a year ago.”
On the supply side of the market, single-family existing homes were at a 5.4-months’ supply in July 2025, while condo-townhouse properties were at a 9.6-months’ supply last month.
“The relatively abundant amount of inventory we have in both property type categories indicates we still don’t have enough prospective buyers relative to sellers to push prices upward,” O’Connor said. “For buyers who can afford to purchase in the current market, this gives them a sizable advantage in price negotiations. Now, this could change as prices and/or interest rates continue to come down – as a lot of sidelined buyers who would love to purchase a home if only the market was a little more affordable would be unlocked and able to compete with the buyers that are already in the market.
As a final note, he added that the recent downward trend in new listings also is giving the remaining sellers more leverage over buyers than earlier in the year, which has been reflected in the inventory statistics.
To see the full statewide housing activity reports, go to the Florida Realtors Newsroom and look under Latest Releases or download the July 2025 data report PDFs under Market Data.
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