Florida’s housing market shifted into a slower but increasingly supply-constrained pattern in August 2026, giving out-of-state buyers and homeowners another sign that conditions are changing from the inventory-heavy market seen earlier in the housing cycle.
According to Florida Realtors®, statewide closed sales declined modestly from a year earlier in both major property categories. Existing single-family home sales fell 1.4%, while condo and townhouse sales declined 1.8%. At the same time, median prices increased and the number of properties available for sale dropped by double digits.
Florida Realtors Chief Economist Dr. Brad O’Connor said August looked less like the beginning of a major downturn and more like a housing market settling into a steadier pace following nearly a year of improving sales. Mortgage rates and affordability continue to influence demand, but declining inventory is helping support prices.
Florida Housing Market at a Glance
- Single-family closed sales: 21,497, down 1.4% year-over-year
- Single-family median sale price: $415,000, up 1.2%
- Single-family active listings: 94,610, down 13%
- Single-family months of supply: 4.3 months
- Condo/townhouse closed sales: 7,291, down 1.8%
- Condo/townhouse median price: $298,000, up 2.8%
- Condo/townhouse active listings: 59,697, down 11.5%
- Condo/townhouse months of supply: 7.7 months
Single-Family Inventory Falls Sharply Across Florida
The most important number for relocating buyers may not be the decline in sales — it may be the decline in available homes.
Florida had 94,610 active single-family listings at the end of August, down 13% from 108,762 a year earlier. Months of inventory dropped to 4.3 months from 5.3 months, an 18.9% year-over-year decline.
Florida Realtors uses approximately 5.5 months of inventory as a benchmark for a balanced market, with lower supply traditionally favoring sellers and higher supply favoring buyers. By that measure, Florida’s statewide single-family market has moved below balanced-market territory.
New listings also softened. Florida recorded 27,411 new single-family listings, down 1.3% from August 2025. New pending sales totaled 22,522, down 2.8%, ending a 12-month streak of year-over-year gains in that measure.
Homes that did sell moved more quickly. Median time to contract dropped to 44 days from 51 days, while median time to sale declined to 84 days from 90 days. Sellers received a median 96% of their original asking price, compared with 94.8% one year earlier.
Those figures suggest buyers may encounter stronger competition for well-priced single-family homes than they did a year ago, particularly in neighborhoods or price ranges where inventory is limited.
Condo and Townhouse Buyers Still Have More Choices
Florida’s condo and townhouse market tells a somewhat different story.
Closed sales totaled 7,291, down 1.8% year-over-year, while the statewide median price increased 2.8% to $298,000. New listings increased slightly to 11,738, up 1.1%.
Active condo and townhouse inventory fell substantially, however, declining 11.5% to 59,697 properties. Months of supply declined from 9.3 months last August to 7.7 months this year.
That 7.7-month supply remains considerably higher than the 4.3 months available in the single-family market. For relocating buyers, that distinction matters. The statewide condo market still offers more negotiating leverage overall, even though supply is moving lower.
The median condo or townhouse took 69 days to reach contract and 109 days to complete a sale, both slightly faster than a year earlier. Sellers received a median 93.3% of their original asking price.
How August Compared With July
Month-to-month numbers need to be interpreted carefully because Florida Realtors notes that housing activity follows seasonal cycles and says year-over-year comparisons are generally more useful for identifying trends.
Even so, the July-to-August movement helps illustrate the late-summer slowdown.
Single-family closed sales fell from 23,870 in July to 21,497 in August, while the statewide median price moved from $425,000 to $415,000. Active single-family inventory also fell, from 97,741 listings to 94,610, while months of supply declined from 4.5 to 4.3 months.
Condo and townhouse sales declined from 8,194 in July to 7,291 in August, but the median price increased from $295,000 to $298,000. Condo inventory declined from 60,962 listings to 59,697, and months of supply edged down from 7.8 to 7.7 months.
Florida Metro Markets Continue to Tell Different Stories
Statewide averages can obscure major differences between Florida destinations popular with relocating households.
In the Tampa-St. Petersburg-Clearwater metro, which includes Hillsborough, Pinellas, Pasco and Hernando counties, single-family closed sales fell 7.6% year-over-year to 3,104, while the median price increased 2.5% to $410,000. Condo and townhouse sales declined 7.9% to 949, while the median condo price rose 4.1% to $274,000.
The Miami-Fort Lauderdale-West Palm Beach metro recorded 2,986 single-family sales, down 1.6%, but its median price increased 2.8% to $658,000. Condo sales fell 5.1% while the median condo price rose 4.4% to $329,000.
Central Florida was mixed. Orlando-Kissimmee-Sanford single-family sales increased 1.5% to 2,445 while the median price slipped 0.6% to $439,000. Condo and townhouse sales fell 5.1%, with a median price of $300,000, down 3.2%.
Parts of Southwest Florida posted stronger sales. Cape Coral-Fort Myers single-family transactions increased 2.8%, and condo-townhouse sales rose 10.6%. North Port-Sarasota-Bradenton single-family sales increased 3.3%, while condo-townhouse sales jumped 16.8%.
Those differences reinforce why people moving to Florida should compare local housing conditions rather than relying solely on the statewide median.
What the August Market Means for Buyers Moving to Florida
For out-of-state buyers, Florida remains far from a single statewide market.
The single-family side is becoming increasingly supply constrained. With inventory down 13% from last year and only 4.3 months of supply statewide, buyers targeting highly desirable neighborhoods may have less leverage than the broader headlines about slower sales suggest. Homes are also reaching contract more quickly than they were last year.
Condo buyers still have more room to negotiate overall. A 7.7-month supply remains above Florida Realtors’ balanced-market benchmark, and condo sellers are receiving a smaller percentage of their original asking price than single-family sellers. However, falling condo inventory means that advantage has narrowed compared with 2025.
For newcomers who are flexible on location or property type, comparing single-family homes and condos across multiple Florida metros could produce substantially different price and negotiating opportunities.
What the Numbers Mean for Florida Sellers
For homeowners considering listing a single-family property, the decline in competing inventory is an encouraging development. Although statewide sales slipped in August, median prices rose, properties reached contract faster and sellers captured a larger share of their original asking price than a year ago.
Condo sellers face a more nuanced environment. Inventory is falling and prices increased statewide in August, but supply remains relatively high compared with single-family homes. Building condition, association finances, insurance costs, assessments, reserves and location can therefore play an unusually important role in how quickly an individual condo sells.
Florida Housing Market Outlook
Florida Realtors said the market appears to be moving toward a more balanced pace rather than undergoing a dramatic shift. O’Connor said sales remain relatively stable, inventory is tightening and prices have been holding up despite mortgage rates that continue to challenge affordability. Florida Realtors also noted some evidence that migration into the state is beginning to strengthen again.
For people planning a move to Florida, the takeaway is that slower statewide sales should not automatically be interpreted as weaker competition. The simultaneous decline in inventory — especially for single-family homes — could become one of the most important trends to watch through the remainder of 2026.