Existing-home sales declined during the month of March, dropping 1.0% year-over-year to a seasonally adjusted annual rate of 3.98 million units.
Key National Highlights:
- Median home price climbed to $408,800, up 1.4% year-over-year — marking 33 consecutive months of annual price increases.
- Single-family homes saw prices rising by 1.3% to $412,400; condo/townhome prices increased 2.3% to $371,500.
- Inventory increased 2.3% year-over-year to 1.36 million homes, equivalent to a 4.1-month supply at the current sales pace.
- Days on market extended to 41 days (vs. 36 days last March).
- Investors and second-home buyers accounted for 18% of purchases.
- Distressed sales (foreclosures and short sales) remained negligible at just 2% of all transactions.
Bottom line: Existing home sales declined 3.6 percent month over month and 1.0 percent year over year in March 2026, as softer job growth and lower consumer confidence weighed on buyer activity. Despite the slowdown, the median sales price rose 1.4 percent year over year to a March record of $408,800, the 33rd straight month of gains, supported by tight inventory of 1.36 million units (4.1 months supply).
Overall, the market remains supply constrained, favoring sellers with steady price appreciation even as transaction volume stays sluggish
The Florida Housing Market
Florida’s housing market in March 2026 showed positive momentum according to Florida Realtors, with statewide closed sales rising year over year for the seventh straight month.
Single family home sales increased 5.9% to 24,497 units and condo-townhouse sales rose 12% to 9,423 units, while new pending sales across all property types grew by 4.9%, signaling continued buyer activity.
Median prices were flat, new listings declined, and inventory continued to drop. Trends continue suggest the market is stabilizing with buyers responding to improved conditions.
Closed Sales
In March, Florida’s existing-home market showed continued resilience with 35,460 statewide closed sales, reflecting a year-over-year 7.7% uptick driven by gains in both single-family homes and condo-townhouse units.
The luxury segment remained a standout performer, with properties priced at $1 million and above experiencing strong demand (up 21.4% year-over-year) and driving continued strength in the state’s premium markets.
Median Sales Prices
Florida’s median home price has shown remarkable stability since mid-2023, remaining within a narrow range despite fluctuating mortgage rates and shifting seasonal demand.
In March 2026, the statewide median price for existing homes rose modestly by 0.9% year-over-year to $383,500, ending a 12-month period of year-over-year declines.
In contrast, the luxury segment (homes priced at $1 million and above) performed more strongly, with sale prices increasing by a solid 4.9% year-over-year.
Active Inventory
Florida’s active housing inventory peaked above 200,000 listings in spring 2025, then began a gradual decline through late 2025.
After an increase in January 2026, statewide active listings continued to decline. In March 2026, active inventory is 179,280 units.
Luxury inventory for properties priced over $1 million also fell 8.4 percent to 26,376 units during the month.
The South Florida Housing Market
The South Florida housing market in the Miami-Fort Lauderdale-West Palm Beach MSA showed solid demand and strong transaction growth in March 2026. Closed sales reached 6,826 properties, up 6.9 percent year over year. Dollar volume jumped 21 percent to 6.5 billion dollars. This robust spending growth despite modest price gains indicates buyers are purchasing higher value homes and the market maintains healthy momentum in the spring season.
Pricing and supply trends signal a tightening market. The median sale price increased 2.0 percent to 520,000 dollars. Active inventory declined 11 percent to 45,449 units. Fewer available homes combined with limited new seller activity are creating scarcity that benefits sellers and supports price stability.
New supply constraints could heighten competition ahead. New listings dropped 16 percent to 10,639 while new pending sales rose 9.3 percent to 7,870. These figures point to strong buyer interest and a solid pipeline of closings.
The Greater Orlando Housing Market
The Orlando Kissimmee Sanford MSA housing market showed modest cooling in March 2026. Closed sales totaled 3,334 properties, down 3.1 percent year over year. Dollar volume declined 2.5 percent to 1.7 billion dollars. With median prices holding steady, the market remains stable but with reduced transaction activity as the spring season progresses.
Pricing and supply conditions reflect balance. The median sale price stayed flat at 405,000 dollars. Active inventory edged down 1.3 percent to 14,889 units, indicating a slight tightening in available homes that helps maintain price stability without significant upward pressure.
New activity points to continued caution. New listings fell 3.4 percent to 4,943 while new pending sales decreased 2.4 percent to 3,824. These modest declines suggest measured buyer and seller participation, with limited new supply likely keeping the market steady rather than highly competitive in the near term.
The Tampa Bay Housing Market
The Tampa St Petersburg Clearwater MSA housing market displayed mixed but resilient signals in March 2026. Closed sales reached 5,157 properties, up 1.8 percent year over year. Dollar volume grew 10 percent to 2.5 billion dollars. Stronger transaction values despite modest sales growth suggest buyers are focusing on higher value properties amid steady demand.
Pricing and supply conditions indicate a balanced market. The median sale price declined 1.3 percent to 365,000 dollars. Active inventory fell 5.0 percent to 20,389 units. This reduction in available homes is helping to offset the slight price softening and supporting overall market stability.
New activity reflects seller caution with steady buyer interest. New listings dropped sharply 17 percent to 6,656 while new pending sales eased 1.7 percent to 5,622. Limited new supply combined with a solid pipeline of contracts points to continued competitiveness and potential support for prices in the coming months.
Do you have a property to sell?
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On behalf of our clients and strategic partners, we have successfully sell over hundreds of residential and commercial properties in most major markets nationwide.
Our team has an extensive network of highly experienced partner brokers who can assist with all the local requirements, and we will personally be there for you every step of the way.
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