Florida home prices hold firm in August

Florida median home prices rose in August for single-family homes, condos and townhouses, even as higher mortgage rates slowed sales growth.

The median sale price for single-family homes increased just over 1% from August 2025 to $415,000, according to Florida Realtors® Chief Economist Dr. Brad O’Connor. It was the sixth consecutive month of year-over-year price gains.

The median price for condos and townhouses climbed nearly 3% to just under $298,000.

“Despite the mild slowdown in sales activity, tightening inventory is keeping home prices largely intact,” O’Connor said.

August’s price gains came as closed sales dipped in both categories:

• Single-family closed sales fell about 1.5% year over year.
• Condo and townhouse closed sales declined just under 2%.

The sales declines ended 11-month streaks of year-over-year gains in both property categories, but O’Connor said the latest numbers look more like a market leveling off than one changing direction.

One reason prices held up was tighter inventory. The supply of both single-family homes and condos and townhouses fell by double digits from a year earlier.

At the same time, mortgage rates moved between 6% and 7% through much of 2025 and 2026. While those shifts have been relatively small over the long term, rates are now higher than they were a year ago.

“We aren’t talking about a seismic shift in affordability one way or the other,” O’Connor said. “But on the margin, the recent rise in rates has been enough to slow home sales growth.”

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