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Florida's Housing Market Shows Stability in Q3 2026

In recent updates from Florida Realtors®, the housing market in Florida has showcased signs of stability as of September and throughout the third quarter of 2026. Despite fluctuating mortgage rates, existing single-family home sales edged up 0.2% while condo-townhouse sales increased by 3.1% year-over-year. This signals a cautiously optimistic trend amongst sellers and potential buyers.

Market Highlights

According to the latest housing data, closed sales for existing single-family homes in Florida saw a total of 20,537 last month, which reflects a decrease of 3.5% compared to the same time last year. Conversely, sales for existing condo-townhouses totaled 7,179, nearly maintaining the previous year’s figures with a slight decline of 0.1%. These figures reveal a market that is adapting but not expanding at the same rate as in prior months.

Chuck Bonfiglio, President of Florida Realtors, remarked on the overall trend: “The market continues to move at a measured pace, indicating signs of stability as we head into the final quarter of the year.” He emphasized that home movement is quicker than at the same time last year, enabling both buyers and sellers to navigate the market more effectively.

The Impact of Mortgage Rates

Despite slight increases in home sales figures, experts highlight that the recent rise in mortgage rates remains a critical element influencing the market dynamics. Dr. Brad O'Connor, Chief Economist at Florida Realtors, notes that the rising interest rates have contributed to a downturn in home sales growth within the state and across the nation.

“We are experiencing a decline in year-over-year sales for the second consecutive month,” O'Connor explained, adding that such shifts can lead to psychological effects in the market. However, he reassured stakeholders that the overall sales trend hasn’t drastically changed from earlier this year, even if rising mortgage rates are presenting challenges.

Median Sales Prices and Inventory

The median sales price for single-family existing homes in Florida stood at $415,000 in September, witnessing a 1.2% increase from the previous year. On the other hand, the median price for condo-townhouses dropped by 1.8% to $293,500. For the third quarter of 2026, the median sales price for single-family homes escalated to $420,000—an increase of 2.4% from the comparable quarter a year prior.

In terms of inventory, single-family homes were at a 4.4-month supply, while condo-townhouses reached a 7.7-month supply, indicative of a tighter market in comparison to previous periods.

Looking Ahead

As we approach the closing months of 2026, the narrative paints a picture of a housing sector that is losing some of its momentum but remains intact. While challenges such as higher mortgage rates persist, stability in prices and inventory levels continues to allow for a market that is still operational and accessible to buyers.

For those in the Florida housing market, preparation and realistic expectations are vital, with local real estate professionals available to guide both buyers and sellers.

For further insights and detailed housing activity reports, please visit the Florida Realtors® Newsroom at Florida Realtors Newsroom.