Florida’s existing-home market recorded fewer closings in September than a year earlier but slight third-quarter gains, with Florida Realtors citing higher mortgage rates as a brake on sales growth.
Florida Realtors’ reports, compiled from local multiple listing service data, counted 20,537 closed sales of existing single-family homes in September, down 3.5% from September 2025. Condo-townhouse closings fell 0.1% to 7,179. Across the third quarter, single-family closings increased 0.2% to 65,904, while condo-townhouse closings rose 3.1% to 22,664.
Prices moved differently by property type. The September median for single-family homes rose 1.2% to $415,000, while the condo-townhouse median fell 1.8% to $293,500. In the third quarter, the single-family median was $420,000, up 2.4%, and the condo-townhouse median was $295,000, unchanged from a year earlier. Florida Realtors says the median is the midpoint of sales and can be affected by changes in the mix of homes sold.
New pending sales declined 7.6% year over year for single-family homes and 3.5% for condo-townhouse units. September months’ supply was 4.4 months for single-family homes and 7.7 months for condo-townhouse units, down from 5.1 months and 9.1 months, respectively, a year earlier.
Florida Realtors Chief Economist Brad O’Connor attributed the pause in modest sales growth to higher mortgage rates. Freddie Mac’s U.S. average for a 30-year fixed-rate mortgage was 7.40% on Oct. 15, compared with 6.27% a year earlier; the national figure is not a Florida-specific rate. O’Connor said the higher rates were “not doing the housing market any favors.”
Because closings typically follow contracts by 30 to 90 days or longer, September transactions may reflect earlier buyer decisions, Florida Realtors says. The association’s next monthly data release, covering October, is scheduled for Nov. 16.
