Florida’s housing market saw a rise in closed sales and signs of price stabilization in September and the third quarter of 2025, according to data released by the Florida Realtors Research Department. The data, compiled with local Realtor boards and associations, shows that statewide closed sales of existing single-family homes reached 21,271 last month—a 13.6% increase from September 2024. Existing condo-townhouse sales also rose to 7,187 units, marking an 8% year-over-year gain.
For the third quarter of 2025, total single-family home sales were up slightly at 65,776—an increase of 1.6% compared to the same period last year. However, condo-townhouse sales declined by 4% year-over-year to a total of 21,992 units for the quarter.
Dr. Brad O’Connor, Chief Economist at Florida Realtors, highlighted that this was only the third time in 2025 that single-family closed sales showed a year-over-year increase. He noted that “closed condo and townhouse sales were up year-over-year in September for the first time in 17 months.”
O’Connor attributed much of this growth to lower mortgage rates observed over recent months: “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. Look at what's happened since then: Rates have fallen even further, which has made it possible for even more buyers to be able to participate in the housing market.”
He added that new pending sales for both property types were also higher compared to last year: “New pending sales of Florida single-family homes were up by 7% compared to a year ago in September. And likewise, over in the condo and townhouse category, new pending sales were up by 6.6%. So now we have two consecutive months (August and September) where new pending sales have been up year-over-year in both property type categories.”
While noting early signs of recovery in market activity, O’Connor cautioned against declaring a sustained turnaround: “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.”
Median prices held steady or declined modestly during this period. In September, the median sale price for single-family existing homes was $410,000—the same as one year earlier—while condos and townhouses had a median price of $299,000 (down 4.8%). For all of Q3 2025, median prices were $410,000 for single-family homes (down 1.2%) and $295,000 for condos/townhouses (down 6.1%).
Inventory levels also suggest some stabilization; there was a supply equivalent to 5.1 months for single-family homes and nine months for condos/townhouses during both September and Q3.
“It’s taken a while, but the Florida housing market is finally showing some signs of reaching a bottom in terms of sales,” said O’Connor. “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.”
“These positive trends show that when operating in the right economic, tax and regulatory environment, demand quickly follows," said Chuck Bonfiglio Jr., President-Elect at Florida Realtors."Realtors across Florida are helping buyers and sellers navigate this evolving market with confidence, knowledge and a clear focus on long-term stability."