According to the National Association of Realtors, existing-home sales rose 1.5% month-over-month in September to a seasonally adjusted annual rate of 3.99 million units, and they were 2.2% lower than a year ago.
Key National Highlights:
- The median home price was $417,500, up 1.3% year-over-year. That’s the 39th consecutive month of annual price increases.
- Single-family home prices rose 1.2% to $422,700, and condo/co-op prices rose 1.2% to $363,700.
- Inventory rose 1.9% from August (and 4.6% year-over-year) to 1.60 million homes. That’s a 4.8-month supply, unchanged from August and up from 4.5 months a year ago.
- Homes took a median of 33 days to sell, up from 31 days in August and the same as September 2025.
- Investors and second-home buyers accounted for 20% of purchases, up from 15% in August.
- Distressed sales (foreclosures and short sales) remained negligible at just 2% of all transactions.
- The average 30-year fixed mortgage rate was 6.86%, up from 6.67% in August and 6.35% a year ago (Freddie Mac).
Bottom line: Sales ticked up slightly in September, but NAR’s chief economist says August and September were the two slowest months for home sales this year. Higher inventory and longer days on market give buyers more room to negotiate, while prices keep a multi-year climb going.
The Florida Housing Market
According to Florida Realtors, Florida’s housing market held steady in September and through the third quarter, moving at a more measured pace after a stretch of modest sales growth. Rising mortgage rates remain the biggest story, here and nationally. Economists note that even a modest rise in rates was enough to halt the earlier growth, leaving a second straight month of slightly lower year-over-year sales. It’s not a major shift in the trend, but the move from positive to negative growth can weigh on buyer psychology.
Even so, the market has lost some momentum without falling apart. Prices have stayed relatively steady, inventory is tighter than a year ago, and homes are generally selling faster than they did last year. The upper end of the market continues to perform well, while single-family sales are feeling more of the pressure from rates. Local markets still move at different speeds, which is why pricing, timing, and neighborhood-level knowledge matter.
Heading into the final quarter, the outlook is one of continued stability rather than a sharp turn. Today’s market rewards preparation and realistic expectations, for buyers weighing their options and for sellers who need to position a property competitively.
Closed Sales
Florida recorded 28,846 existing-home closings statewide in September, down 2.6% from a year earlier. Single-family homes accounted for 20,537 of those sales, down 3.5% year-over-year, while condo-townhouse sales held essentially flat at 7,179 (down 0.1%).
The luxury segment bucked the trend. Luxury home sales rose 10.1% from a year earlier, and eight of the first nine months of 2026 posted double-digit year-over-year gains.
Median Sales Prices
Prices held steady despite the slower sales pace. Across all property types, the statewide median sale price was $376,000 in September, up 0.3% from a year earlier and unchanged from August. The single-family median rose 1.2% year-over-year to $415,000, while the condo-townhouse median slipped 1.8% to $293,500.
Luxury homes showed the most strength, with the median price up 5.1% year-over-year to $1.575 million.
Even with higher mortgage rates, tighter supply is helping values hold, so well-priced homes can still command firm prices.
Active Inventory
Active inventory across all property types stood at 163,455 listings statewide in September, down 9.7% from a year earlier. Single-family homes were at a 4.4-month supply and condo-townhouse properties at 7.7 months.
That leaner listing environment is a key reason prices have held up, even as local conditions still vary widely from one Florida market to another.
The South Florida Housing Market
In the Miami, Fort Lauderdale and West Palm Beach metro, September 2026 closed sales of all property types totaled 5,513, down 5.2% from a year earlier. New pending sales fell more sharply, down 12% to 5,414. Even so, dollar volume rose 8.6% to $4.8 billion. A higher median sale price helped drive that gain: it reached $512,500, up 3.5% from September 2025.
Supply continued to tighten across the region. Active inventory fell 13% from a year earlier to 40,847 homes, and new listings slipped 2.1% to 9,258. A thinner stock of homes for sale helps explain why prices and total sales dollars held up even as transactions cooled.
The Greater Orlando Housing Market
In the Orlando, Kissimmee and Sanford metro, September 2026 closed sales of all property types totaled 3,027, down 1.1% from a year earlier. New pending sales fell 6.2% to 2,918. Dollar volume slipped 2.7% to $1.5 billion. The median sale price was $398,950, down 1.4% from September 2025.
Supply held essentially flat as more homes came to market. Active inventory edged up 0.1% from a year earlier to 15,624 homes, and new listings rose 5.6% to 4,370. The month brought slightly softer sales and pricing, with inventory roughly where it was last September.
The Tampa Bay Housing Market
In the Tampa, St. Petersburg and Clearwater metro, September 2026 closed sales of all property types totaled 4,054, down 5.9% from a year earlier. New pending sales fell 9.5% to 3,852. Dollar volume still edged up 0.6% to $1.9 billion. The median sale price was $365,000, up 1.4% from September 2025.
Fewer homes were available, even as new listings held steady. Active inventory fell 4.6% from a year earlier to 20,214 homes, and new listings rose 0.4% to 5,638. Prices and total dollar volume held slightly above last year’s levels even as the number of sales moved lower.
Partner With South Florida’s Trusted Real Estate Advisors
In a market that moves at different speeds by neighborhood, timing and expertise are essential. Whether you are buying or selling, or advising someone who is, we’d welcome the conversation.
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