Florida's housing market saw sales climb and prices steady in September
Florida’s housing market showed renewed momentum in September, with closed sales of existing single-family homes jumping 13.6% year-over-year and condo-townhouse sales up 8%, according to the latest data from Florida Realtors.
The surge in activity came as median prices leveled off and inventory growth slowed, offering signs of a market finding its footing after months of volatility.
Market confidence returns as buyers re-enter
“Florida’s housing market continues to show strength and balance,” said Tim Weisheyer, 2025 Florida Realtors president and broker-owner at Dream Builders Realty.
“For months I have been talking about the importance of understanding what is really happening across our state, we're seeing clear evidence of buyers' continued confidence building across Florida. Closed sales are trending higher, pending sales are up for a second straight month, and inventory levels are beginning to level off – all signs that Florida's housing market remains one of the strongest in the nation.”
The statewide median sales price for single-family homes held steady at $410,000 in September, unchanged from a year ago, while condo-townhouse prices dipped 4.8% to $299,000. For the third quarter, single-family prices slipped 1.2% year-over-year, and condo-townhouse prices fell 6.1%.
Mortgage rates drive demand
Florida Realtors chief economist Brad O’Connor attributed the uptick in sales to a drop in mortgage rates.
“Throughout August, the 30-year fixed mortgage rate hovered just above 6.5%, lower than what we'd seen earlier in the year. This downward trend, combined with expectations among buyers of more rate cuts in the future, had a positive effect on demand for Florida homes,” O’Connor said.
“Rates have fallen even further, which has made it possible for even more buyers to be able to participate in the housing market.”
The average 30-year fixed mortgage rate has slipped to 6.19%, its lowest level in 2025 so far, according to Freddie Mac.
Pending sales rose for the second consecutive month, with new contracts on single-family homes up 7% and condo-townhouse contracts up 6.6% year-over-year in September.
“While it's still a little early to definitively declare a shift in the overall trend to one of longer-term positive sales growth, at the very least we can be more confident we're moving in that direction than we were a month ago,” O’Connor said.
Barry Habib, CEO of MBS Highway, predicted mortgage rates could fall to around 5.5% in 2026, citing expected Fed rate cuts, increased Treasury purchases, and tighter mortgage spreads. He urged brokers to prepare clients by setting a “strike rate.”https://t.co/jQNJt4LyFM
— Mortgage Professional America Magazine (@MPAMagazineUS) October 21, 2025
Inventory stabilizes amid shifting supply
On the supply side, single-family homes were at a 5.1-months’ supply and condo-townhouse properties at 9.1 months, both unchanged from the previous quarter.
“Inventory levels continue to show some signs of stabilization, and prices as of late seem to be trending in that direction. Mortgage rates continue to be the key determinant of where the market will go from here,” O’Connor said.
Florida’s rebound comes as other US markets report similar stabilization, with the National Association of Realtors recently noting that national existing-home sales posted a 1.5% gain in September, reaching a seasonally adjusted annual rate of 4.06 million units
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