Florida housing market shows divergence between condos and single-family homes

The Florida housing market is experiencing a significant divergence between single-family homes and the condominium sector as of late 2026. Statewide, the median sale price for existing single-family homes reached $415,000, a 1.2% increase year-over-year, with active listings falling 13% to approximately 4.3 months of supply, indicating a seller-leaning market.

In contrast, the condominium and townhouse segment remains a buyer’s market with 7.7 months of supply and a median price of $298,000, up 2.8% year-over-year. In South Florida, specifically Miami-Dade, the luxury condo market ($1M+ sales) showed strong performance, with transactions rising 15.5% year-over-year in July 2026. While the resale condo market faces challenges due to structural-reserve regulations, new-development luxury projects continue to see high absorption rates.

Overall, the state's real estate landscape is characterized by a split: tightening inventory and modest appreciation in single-family homes, versus higher inventory and a buyer-friendly environment in the condo sector.