Florida housing market holds steady in September
Home sales in the state declined in September, but stable prices and continued strength in luxury sales point to a market holding its ground.
Florida’s housing market remained relatively stable in September, with home prices holding steady and luxury sales continuing to perform well, even as higher mortgage rates contributed to a second straight month of year-over-year sales declines.
Closed sales of single-family homes fell 3.5% from September 2025, while condo and townhouse sales were virtually unchanged, with just eight fewer closings statewide, according to Florida Realtors® Chief Economist Dr. Brad O’Connor.
O’Connor said the slowdown follows nearly a year of modest sales growth, but the overall market hasn't changed dramatically from earlier this year.
“It's not a major shift in the sales trend by any stretch, but whenever you go from positive to negative growth, there is a potential psychological impact,” he said.
Mortgage rates have continued to climb in 2026 and are now higher than they were a year ago. While the changes have been relatively small by historical standards, they've been enough to stall the modest sales growth Florida experienced over the past year.
O’Connor said the widening gap between current mortgage rates and year-ago levels could keep sales activity subdued over the next month or two.
Still, September brought some encouraging signs. Condo and townhouse sales held up better than single-family sales, while inventory and home prices remained relatively stable.
September’s statewide market data showed:
- Single-family closed sales declined 3.5% year over year.
- Condo and townhouse closed sales were virtually unchanged, with just eight fewer transactions than a year ago.
- New pending single-family sales fell more than 7.5%, while condo and townhouse pending sales declined 3.5%.
- The single-family median sale price rose 1.2% to $415,000, marking the seventh consecutive month of year-over-year increases.
- The condo and townhouse median price declined nearly 2% to $293,500.
- Dollar volume increased nearly 7% for single-family homes and 8.5% for condos and townhouses.
The dollar volume gains were particularly encouraging, O'Connor said. Dollar volume, the combined value of all homes sold, rose even as overall sales slowed. O’Connor attributed the increases to stronger price appreciation among luxury and near-luxury properties, which continue to outperform homes in lower and middle price ranges.
Year to date, dollar volume is up more than 10% for single-family homes and 13% for condos and townhouses.
Meanwhile, condo and townhouse sales have shown greater resilience, helped in part by their relative affordability and the market's ongoing adjustment to reserve requirements and other regulations.
As Florida heads into the final quarter of 2026, O’Connor said the market has lost some momentum but remains relatively stable.
“The story remains one of a housing market that has lost some momentum, but certainly hasn’t fallen apart,” he said.
Statewide numbers offer a broad view, but local conditions can vary by property type, price point and community. Florida Realtors members can use Sunstats to compare the latest sales, inventory and pricing trends in their markets.
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