More Home Sales Close
More Home Sales Close in Florida as Buyer Demand Returns
Florida’s housing market showed renewed momentum in November, with more closed sales and rising pending activity statewide, according to the latest report from Florida Realtors®. Buyers responded positively to easing mortgage rates, signaling growing confidence as the market moves toward 2026.
Statewide data shows:
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Single-family closed sales increased 3.4% year-over-year
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Condo and townhouse sales rose 1.6% year-over-year
These gains reflect improving affordability conditions and steady buyer interest across Florida’s real estate market.
Pending Sales Point to Continued Market Activity
Pending sales also increased in November, reinforcing expectations for continued closings in the months ahead. According to Florida Realtors Chief Economist Dr. Brad O’Connor, comparisons with last year’s data remain influenced by hurricane-related disruptions in fall 2024, which temporarily shifted sales activity.
Despite this, new pending sales rose across both major housing segments:
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Single-family pending sales increased 2.7% year-over-year
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Condo and townhouse pending sales rose 5.2% year-over-year
Notably, condo and townhouse contracts outperformed expectations, despite historically weaker demand compared to single-family homes.
Lower Mortgage Rates Are Unlocking Buyer Demand
Florida Realtors leadership emphasized that lower mortgage rates are helping unlock long-standing pent-up demand.
“November’s numbers reinforce that Florida’s housing market is on stable footing,” said Tim Weisheyer, 2025 Florida Realtors President. “Buyers and sellers alike are showing continued confidence, and Florida’s real estate market remains balanced.”
As borrowing costs gradually decline, more buyers are re-entering the market—especially those who delayed purchases due to affordability concerns in 2023 and 2024.
Home Prices Stabilize as Inventory Grows
Pricing trends also show signs of stabilization:
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Single-family median price: $410,000 (down just 0.2% YoY)
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Condo-townhouse median price: $299,320 (down 3.8% YoY)
While inventory levels increased year-over-year, November marked the smallest shift in pricing and supply metrics in recent months, suggesting the market may be approaching equilibrium.
Current supply levels:
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Single-family homes: 4.9 months’ supply
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Condos & townhomes: 9.4 months’ supply
This shift gives buyers more options while encouraging sellers to price strategically.
Florida Market Vision: Cautious Optimism for 2026
Economists remain cautiously optimistic heading into the new year. While affordability challenges persist, conditions are improving slowly as:
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Mortgage rates inch downward
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Home prices hold steady or soften in select markets
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Household incomes rise gradually
“A substantial amount of latent demand is waiting to be unlocked throughout Florida,” said Dr. O’Connor. “Little by little, pent-up housing demand is being released.”
Florida continues to attract out-of-state buyers, with affordability being the primary obstacle—not demand.
Buyers and Sellers Should Get
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More inventory and stable pricing create better negotiating opportunities
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Rising pending sales signal increasing competition for well-priced homes
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Homes that are priced correctly and professionally marketed are still selling
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Accurate pricing is critical as buyers become more selective
Thinking about buying as demand picks up? Considering selling while sales activity is rising?
