A total of 24,497 closed sales of existing single-family homes were recorded in Florida in March, up 5.9% year-over-year, while existing condo-townhouse sales totaled 9,423, up 12% over March 2025.
According to data from Florida Realtors, the first quarter of the year saw 59,174 closed sales of single-family homes, up 5.3% year-over-year, while closed condo-townhouse sales during the quarter totaled 22,567, up 9% compared to the same quarter one year ago.
“A major reason for the strong first quarter this year compared to last year is that mortgage rates in the first quarter of 2025 were fairly elevated, with the national average weekly 30-year fixed-rate mortgage ranging between 6.6% and just above 7% during that period,” said Florida Realtors Chief Economist Brad O’Connor. “By contrast, the average rate was closer to the 6-6.1% range most weeks throughout January and February of this year.”
The statewide median sales price for single-family existing homes in March was $420,000, up 1.8% from the previous year, while the statewide median price for condo-townhouse units was $315,000, the same as one year ago. For the first quarter, the statewide median price for single-family homes was $415,000, slightly up (0.1%) year-over-year, and the statewide median price for condo-townhouse properties was $310,000, down 1.6% from the same quarter one year earlier.
The number of homes for sale statewide that went under contract in March and the first quarter were up: Year-over-year new pending sales of existing single-family homes were up 3.3% in March and 7.1% in the first quarter year-over-year, while new pending sales of existing condo-townhouse units increased 9.6% in March and 11.6% for the first quarter. Single-family existing homes were at a 4.8-months’ supply while condo-townhouse properties were at a 9.1-months’ supply for both timeframes.
“Positive growth in new pending sales for Florida in March is a hint that there are factors at play here (outside of mortgage rates) that could allow the market to continue to grow,” O’Connor said. “For one thing, incomes have continued to rise as time marches on, slowly eroding the affordability gap. And the march of time, as always, also brings changes to people’ s lives that, in the case of some homeowners, might necessitate selling their current homes and purchasing others. Overall, Florida’s housing market continues to get healthier and healthier by the month, at a slow but steady pace. At the state level, sales growth has been consistent, prices remain fairly level, and inventory has stabilized.”
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