Florida home sales rose for the 11th consecutive month in July, with both single-family and condo/townhouse closed sales posting year-over-year gains even as mortgage rates stayed elevated, according to data released Aug. 17 by Florida Realtors. Statewide single-family closed sales rose 5% year over year in July, while condo and townhouse closed sales climbed 11%.
The statewide median price for single-family homes was $425,000, up 3.7% from a year earlier, while the condo/townhouse median held flat at $295,000. New pending single-family sales rose 2.5% year over year, marking a 12th straight month of growth in that leading indicator. Inventory continued to tighten: single-family listings fell 13.5% year over year and condo/townhouse inventory declined just under 13%.
“Perhaps most importantly, we’re increasingly seeing evidence that buyers are returning to the market even without a major improvement in mortgage rates,” said Dr. Brad O’Connor, Florida Realtors chief economist, in the release.
The statewide gains echo local trends RealtyWire has reported this summer, including a June report that Naples home sales jumped 16.5% year over year as Florida extended its sales streak. But the sales growth is happening against a backdrop of tightening supply rather than the buyer-friendly conditions Florida saw during its post-pandemic inventory build-up: Florida residential construction permits fell 7% in the first half of 2026, a slowdown that, if sustained, could keep pressure on the state’s already-shrinking for-sale inventory.
The tightening supply picture marks a shift from the past two years, when a wave of new construction and cooling demand made Florida one of the more buyer-friendly states in the country, giving shoppers leverage on price and terms that was unusual for the state. A 13%-plus annual drop in both single-family and condo/townhouse inventory suggests that dynamic is fading as sustained sales growth works through the available supply of listings.
What it means: Eleven straight months of year-over-year sales growth in both property categories, without meaningfully lower mortgage rates, suggests Florida’s housing market has found buyers willing to transact at current rates and prices rather than waiting for a rate-driven rebound. Declining inventory alongside rising sales points toward a market tightening back up after several years of Florida being one of the more buyer-friendly Sun Belt states; if the trend persists, it could slow or reverse the price relief buyers gained during 2024 and 2025.
What to watch: Florida Realtors’ August data, typically released in mid-September, will show whether the streak extends to 12 months and whether inventory keeps contracting into the traditionally slower fall selling season.
