Despite a decline in home sales, stable prices and strong luxury segment performance indicate a steady Florida housing market.
Source: Original report
Florida's housing market demonstrated resilience in September, maintaining stable prices and luxury sales performance despite a decline in overall home sales. This stability suggests the market is holding its ground, even as higher mortgage rates contribute to year-over-year sales decreases.
A Mixed Picture for Florida Home Sales
Closed sales of single-family homes in Florida dropped by 3.5% compared to September 2025, while condo and townhouse sales remained virtually unchanged with only eight fewer closings statewide. This slowdown follows a period of modest sales growth, indicating a shift in market dynamics rather than a dramatic change.
Dr. Brad O'Connor, Chief Economist at Florida Realtors®, noted that this shift could influence market perceptions. He said that while this is not a significant change in the sales trend, moving from growth to decline may have a psychological effect.
The Impact of Rising Mortgage Rates
Mortgage rates have been on the rise in 2026, surpassing levels from a year ago. Although these increases have been relatively small by historical standards, they have been sufficient to halt the modest sales growth Florida experienced over the past year. O'Connor suggested that the difference between current mortgage rates and those from a year ago may keep sales activity subdued over the next month or two.
Encouraging Signs Amid the Slowdown
Despite the overall sales decline, September brought some positive indicators. Condo and townhouse sales held up better than single-family sales, and inventory and home prices remained relatively stable. The single-family median sale price rose by 1.2% to $415,000, showing an increase for the seventh month in a row. In contrast, the condo and townhouse median price dropped nearly 2% to $293,500.
Dollar volume, the combined value of all homes sold, rose nearly 7% for single-family homes and 8.5% for condos and townhouses. This growth was particularly encouraging, as it indicated stronger price increases among high-end and near-high-end properties, which are performing better than homes in lower and middle price ranges.
Market Stability and Local Variations
As Florida heads into the final quarter of 2026, the market has lost some momentum but remains relatively stable. O'Connor said that the narrative is one of a housing market that has lost some momentum, but certainly hasn’t collapsed. He emphasized that statewide numbers offer a broad view, and local conditions can vary by property type, price point, and community.
Florida Realtors members can access Sunstats to compare the latest sales, inventory, and pricing trends in their markets, providing valuable insights for local market analysis.
