Existing-home sales edged higher in October, rising 1.2% month-over-month to a seasonally adjusted annual rate of 4.1 million units — the first modest gain after several months of flat or declining activity.
Key National Highlights:
- Median home price climbed to $415,200, up 2.1% year-over-year — marking 28 consecutive months of annual price increases.
- Single-family homes saw prices rise 2.2% to $420,600; condo/townhome prices increased a more modest 0.9% to $363,700.
- Inventory grew 10.9% year-over-year to 1.37 million homes — equivalent to a 4.4-month supply at the current sales pace (up from roughly 3.9 months a year ago).
- Days on market extended to 34 days (vs. 29 days last October), signaling buyers are shopping more deliberately in the higher-rate environment.
- Investors and second-home buyers accounted for 16% of purchases.
- Distressed sales (foreclosures and short sales) remained negligible at just 2% of transactions.
Bottom line: The U.S. market is finding its footing with gradually improving inventory and stable sales volume, while home-price appreciation — though slower than the past few years — shows little signs of stopping.
The Florida Housing Market
Florida continues to outperform the national housing market, delivering robust double-digit gains across closed sales, pending contracts, and new listings; clear evidence that improved buyer demand appears to continue heading into 2026.
Statewide, existing-home closed sales jumped 13.4% year-over-year, led by single-family homes (up 13.8%) and followed closely by condominiums and townhomes (up 11.1%), according to the latest Florida Realtors® report.
Inventory also expanded for the fourteenth consecutive month, rising 10.3% from last October to 183,132 active listings, giving buyers more options and helping ease upward pressure on prices. The statewide median sales price dipped modestly to $375,000, reflecting the healthy balance now taking shape between rising supply and sustained demand.
Closed Sales
October delivered 29,641 closed home sales across Florida, a healthy 13.4% increase from October 2024 and a clear sign that buyer activity remains well ahead of last year’s pace. While transactions naturally cooled from the spring peak of 34,510 closings in May, the typical seasonal slowdown has been far milder than in previous years, underscoring sustained demand even as the busy season winds down.
The high-end market continues to shine brightest: homes priced at $1 million and above posted a strong 20% year-over-year surge in closed sales—the second double-digit gain of 2025 and further proof that luxury buyers remain undeterred by higher rates and are actively competing for premium properties.
Median Sales Prices
Since mid-2023, Florida’s median home price has settled into a period of remarkable stability, trading within a narrow band despite shifting mortgage rates and seasonal swings.
In October, the statewide median dipped 2.1% year-over-year to $375,000, the ninth straight month of modest annual declines, reflecting the healthy influx of new inventory that is giving buyers greater negotiating power and gradually easing the rapid price escalation seen in prior years.
Even the luxury tier, long a standout for appreciation, showed signs of stabilization: homes priced $1 million and above recorded a slight 1.5% year-over-year decline, confirming that today’s higher supply and more deliberate pace of sales are bringing balance to every segment of the Florida market.
Active Inventory
Florida’s active housing inventory peaked above 200,000 listings in late spring but has trended lower through the summer and early fall as seasonal patterns and rising mortgage rates prompted more sellers to hold off or pull their homes from the market.
By October, the statewide total stood at 183,132 active listings, still a solid 10.3% higher than a year ago and more than double the lows of 2022 – 2023, yet marking the second-lowest point of 2025.
The steady rise in delistings and growing seller hesitation are now clearly tempering inventory growth, helping maintain equilibrium between supply and the still-robust buyer demand across the state.
The South Florida Housing Market
By October 2025, South Florida’s housing market had firmly shifted into a more balanced phase, with sales activity rebounding strongly while price growth cooled to a sustainable pace.
Closed sales across Miami-Dade, Broward, and Palm Beach counties rose 8.7% year-over-year to 5,957 transactions, driving total dollar volume up an impressive 13% to $4.9 billion. The median price for all property types held steady at $500,000, reflecting the impact of rising supply on pricing power.
Active inventory continued its steady climb, increasing 11% from last October to 47,828 listings—the highest level in years and a clear sign that the surge in new listings and slower absorption pace are giving buyers more options and breathing room in a region long defined by tight supply.
The Greater Orlando Housing Market
In October 2025, Orlando’s housing market showed clear signs of renewed momentum, shaking off the slower summer pace with a solid rebound in activity.
Existing-home sales rose 9.2% year-over-year to 3,156 closings, pushing total dollar volume up 10% to $1.6 billion. The median sales price remained remarkably stable at $403,846, just 1.5% below last October, demonstrating that increased supply is being absorbed without triggering sharp price declines.
Inventory continued its steady expansion, climbing 11% from a year earlier, while new listings also jumped 10%, providing buyers with the healthiest selection in years and helping the market settle into a more balanced, sustainable rhythm as the busy winter season approaches.
The Tampa Bay Housing Market
The Tampa St. Petersburg Clearwater housing market posted some of the strongest gains in the state this October, with existing-home sales surging 15% year-over-year to 4,328 closings and total dollar volume rising 12% to $2 billion.
While the median price across all property types eased 4% to $360,000, pulling back from the recent peak of $390,000, the decline reflects a healthy increase in available homes rather than any weakening of demand.
Inventory continued its robust expansion, climbing 18% from last October to 21,176 active listings, fueled by a 22% jump in new listings. This influx of fresh supply is giving buyers significantly more choices and negotiating leverage, helping restore balance to one of Florida’s most active and competitive markets as the busy winter buying season gets underway.
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