Florida's Late-Q3 housing market stayed relatively stable as higher mortgage costs weighed on sales, but prices held steady and luxury activity stayed strong.
Single-family closings statewide slipped ↓~4% yearly in Late-Q3, while condo and townhouse sales were essentially flat, with only eight fewer transactions than a year earlier.
Pending activity softened too: new single-family contracts fell >7.5%, and condo-townhouse pending sales dipped ↓~4%, suggesting buyers reacted to higher borrowing costs.
Prices held fairly steady statewide in Late-Q3: single-family median hit $415K after seven straight yearly gains, while condo-townhouse median dipped ↓~2% to $293.5K.
Heading into Early-Q4, Florida's market lost momentum, and an expert said the wider mortgage-rate gap could keep sales subdued for another month or two.