Market Brief

Florida Realtors put the August single-family median at $415,000 and the condo median near $298,000 while Freddie Mac's 30-year rate rose to 7.28 percent, and Citizens Property Insurance fell to 266,231 policies.

Florida single-family median $415,000, condos near $298,000. Freddie Mac 30-year 7.28%. Citizens down to 266,231 policies. Lennar margin 15.8%.

The Sunday read on how Florida's housing numbers sit against the national rate picture. Our October 2 brief covered the jobs miss, Freddie Mac's 7.28 percent survey, PCE inflation and Case-Shiller. This brief leaves those aside and covers what that brief did not: Florida Realtors' August report, the national existing-home sales data, Redfin's pending-sales read, Citizens Property Insurance's shrinking book and Lennar's third-quarter margin.

Florida in August: prices up, sales down, inventory tighter

Florida Realtors reported on September 16 that the August single-family median sale price rose just over 1 percent from a year earlier to $415,000, and the condo and townhouse median rose nearly 3 percent to just under $298,000. Single-family closed sales fell about 1.5 percent from August 2025, and condo and townhouse closed sales fell just under 2 percent.

Inventory is the tightening piece. Single-family inventory was down 13 percent from a year earlier and condo and townhouse inventory was down 11.5 percent. New pending single-family sales ended a 12-month streak of year-over-year gains, while new pending condo and townhouse sales rose slightly, extending that streak to 13 months. Florida Realtors chief economist Brad O'Connor said, "Sales remain relatively stable, inventory continues to tighten, and home prices are holding up well," and that the recent rise in rates "has been enough to slow home sales growth." Single-family prices have now risen year over year for six consecutive months.

National sales and inventory point the other way

The National Association of Realtors reported on September 10 that existing-home sales fell 2.0 percent in August to a seasonally adjusted annual rate of 3.98 million, down 1.2 percent from a year earlier. The national median price was $429,100, up 1.6 percent. Inventory reached 1.62 million homes, up 5.9 percent from a year earlier and the first time since November 2019 above 1.6 million, which NAR put at 4.9 months of supply.

The two reports disagree on direction for inventory, and both are right for their geography. Florida Realtors shows Florida inventory down 11.5 to 13 percent from a year earlier, while NAR shows national inventory up 5.9 percent. In the South region, NAR reported a median of $366,500, up 0.7 percent, with sales unchanged from a year earlier. NAR also quoted an August average 30-year rate of 6.67 percent, which is lower than Freddie Mac's 7.28 percent for the week ending October 1 because the two measure different periods. Redfin reported on September 17 that national pending sales for the four weeks ending September 13 were 299,126, down 5.4 percent from a year earlier and the lowest in nearly three years, while pending sales rose 6.6 percent in Fort Lauderdale, 4.0 percent in Miami and 3.8 percent in West Palm Beach.

Rates: the highest since November 2023

Freddie Mac's survey put the 30-year fixed at 7.28 percent for the week ending October 1, up from 7.03 percent, with the 15-year at 6.60 percent, per its October 1 release. Fox Business reported on October 1 that this is the highest level since November 2023 and that the 10-year Treasury yield was near 5.23 percent. Realtor.com's senior economist said the rise of nearly a full percentage point over the past year has added more than $200 a month to principal and interest on a median-priced home, per the same report. Our October 2 brief has the daily rate trackers and the jobs-report reaction.

Insurance: Citizens down to 266,231 policies

Citizens Property Insurance had 266,231 policies in August 2026, down from 1.4 million at its 2023 peak, per Insurance Journal's September 23 report. Its total insured value fell from $553 billion in 2023 to an expected $85 billion this year. The Office of Insurance Regulation approved four homeowners rate decreases averaging 7 percent across about 62,000 policies, including 10.4 percent for Alliance North America and for Vyrd Insurance, 4.1 percent for Safe Harbor and 3.2 percent for Unique Insurance. Commissioner Michael Yaworsky said, "I expect to see more aggressive rate cuts in the near future," with pending requests ranging from 0.3 percent to 19.7 percent. Our August insurance article has the earlier filings.

Builders: Lennar's margin slips to 15.8 percent

Lennar reported on September 16 that third-quarter new orders fell 9 percent to 20,879 homes and deliveries fell 3 percent to 20,840. The average sales price was $372,000, down 3 percent, and the gross margin was 15.8 percent against 17.5 percent a year earlier, with incentives near 12.0 percent of base price. The company guided to fourth-quarter deliveries of 22,000 to 23,000 homes at a 15.5 to 16.0 percent margin. Our Brevard builders article has the regional builder picture.

What this means for Northeast Florida

Statewide data shows prices holding with fewer homes for sale, but it does not report Jacksonville separately. Buyers comparing a quote against the 7.28 percent survey rate should ask lenders for a current quote, since daily rates have moved around the survey. Owners renewing coverage may see their insurer's filing among the pending requests. The 2026 Jacksonville market page carries the local series.

What we are not saying

We are not saying Florida prices will keep rising; Florida Realtors' August report is one month of data. The Florida Realtors, NAR, Redfin, Insurance Journal and Lennar figures came from fetched summaries of the releases, not the full tables. The Mortgage Bankers Association's weekly applications page returned inconsistent dates, so we left it out. We found no dated, sourced Florida condo figure newer than January, so we did not use one. Every figure carries its source and date.

People also ask

What is the median home price in Florida in 2026?

Florida Realtors reported on September 16, 2026 that the August single-family median sale price was $415,000 and the condo and townhouse median was just under $298,000.

What is the Freddie Mac mortgage rate this week?

Freddie Mac's survey put the 30-year fixed at 7.28 percent for the week ending October 1, 2026, up from 7.03 percent a week earlier, the highest since November 2023.

Is Florida housing inventory rising or falling?

Florida Realtors reported August single-family inventory down 13 percent and condo inventory down 11.5 percent from a year earlier, while NAR reported national inventory up 5.9 percent.

How many policies does Citizens Property Insurance have?

Citizens had 266,231 policies in August 2026, down from 1.4 million in 2023, per Insurance Journal on September 23, 2026.

Sources

• Florida Realtors, "Florida Housing Market Levels Off in August," September 16, 2026: https://www.floridarealtors.org/news-media/news-articles/2026/09/florida-housing-market-levels-august
• National Association of Realtors, "NAR Existing-Home Sales Report Shows 2.0% Decrease in August," September 10, 2026: https://www.globenewswire.com/news-release/2026/09/10/3359670/0/en/nar-existing-home-sales-report-shows-2-0-decrease-in-august.html
• Redfin, "Pending Home Sales Dip to Lowest Level in Nearly 3 Years," September 17, 2026: https://www.redfin.com/news/housing-market-update-pending-sales-lowest-level-since-2023/
• Freddie Mac, "Mortgage Rates Average 7.28%," October 1, 2026: https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-average-728
• Fox Business, "Mortgage rates rise to 7.28%: Freddie Mac," October 1, 2026: https://www.foxbusiness.com/economy/mortgage-rates-10-1-2026
• Insurance Journal, "Florida OIR Approves Four More HO Rate Cuts as Citizens Keeps Shrinking," September 23, 2026: https://www.insurancejournal.com/news/southeast/2026/09/23/886558.htm
• Lennar, "Lennar Reports Third Quarter 2026 Results," September 16, 2026: https://newsroom.lennar.com/2026-09-16-Lennar-Reports-Third-Quarter-2026-Results

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.