According to statistics from Florida Realtors, sales in Florida continued to rise in May 2026, particularly for condos and townhomes. Single-family home sales grew at a slower pace due to rising inflation, gas prices, and interest rates; how these factors evolve in the coming months will determine whether they continue this trend. However, the number of pending homes in May is up, suggesting that this trend is likely to continue.
“ The direction sales take will still depend largely on how mortgage rates evolve from here on out, and how quickly they change,” explains Dr. Brad O’Connor, chief economist at Florida Realtors.
Focus on Condos and Townhomes
In this segment, sales rose 6.6% in May, due in part to a decline in median prices. Compared to May 2025, the decline is slight, with a median price of $307,000, but when compared to the median prices in March and April 2026 ($315,000), it is quite significant: this shows that motivated sellers have adjusted their prices to remain competitive and close deals.
Buyers are in a position to negotiate, and transactions are taking an average of 103 days to close, which is rather long. Condos and townhomes were selling in 60 days in early 2022 and in 85 days in early 2024.
The total transaction volume stood at $4.4 billion in May 2026, compared to $4 billion in May 2025, so the overall market for condos and townhomes is growing. 7.7% of sales were for properties valued at over $1 million, and more than 12 condos priced above $10 million were sold!
Inventory of properties for sale remains high at 8.6 months, but it is trending toward a reduction (-16.5%). It was over 10 months last year.
Focus on Single-Family Homes
Across Florida, there are three times as many sales of single-family homes as there are of condos and townhomes. Total transaction volume rose from $15.1 billion in May 2025 to $16.3 billion in May 2026. Sales rose only slightly (+0.6%), but the median price reached a one-year high of $425,000, and, more notably, the average price skyrocketed to $655,000 (+7.5%).
While 61% of sales were for homes priced under $500,000, nearly 11% of transactions involved homes priced over $1 million, highlighting the significance of the luxury housing segment, which grew by 16.7%. Sixty-three homes priced over $10 million were sold in May.
Inventory has fallen to 4.7 months, down from 5.7 months last year: we have entered a seller’s market. According to Florida Realtors President Chuck Bonfiglio: “Strong pending sales and the continued engagement of buyers and sellers in many local markets are encouraging signs for Florida’s real estate market.”
Translated by Deepl
