Florida home prices hold steady

Home for sale in Marion County. [Photo courtesy realtor.com]

The Florida Realtors Association September 2025 market report shows that statewide the median single-family home sale price stayed at $410,000, a 0% change compared to September of 2024. Townhouses and condo median sales price were reported at $299,000, a 4.8% year over year decrease from last September.

The statewide active listing inventory for single-family homes was 106,199, an increase of 10.7% over last year. Statewide inventory for condos and townhomes was reported at 66,341, a 10.3% increase.

Single-family market

Ocala/Marion County’s September median sale price reported for single-family homes was $285,000, which is a 1.7% decrease from 2024.

Brad O’Connor, senior economist for the Florida Realtors, a statewide agents’ reporting and professional trade association, said, “…in October of last year, the Florida housing market was impacted both by the after-effects of Hurricane Helene, which arrived at the end of September, as well as pre- and post-storm impacts from Hurricane Milton. If new pending sales are up year over year again in October 2025, at least part of the reason will be because we’ll be comparing to the month last year where the market was most impacted by these two hurricanes.”

“The bounce in new pending sales in August and now the resulting rise in closed sales in September were likely driven in large part by recent lows in mortgage rates. Throughout August, the 30-year fixed mortgage rate hovered just above 6.5%, lower than what we’d seen earlier in the year. This downward trend, combined with expectations among buyers of more rate cuts in the future, had a positive effect on demand for Florida homes,” he continued.

And, O’Connor added, “Mortgage rates continue to be the key determinant of where the market will go from here. While we’re still close to our lows for the year, the sledding gets tougher from here as it will require increasingly stronger combinations of downward shifts in inflation rates, increases in the national unemployment rate and movement in several other factors to push mortgage rates significantly lower from where we’re at now. On the positive side, however, there is not much on the horizon at this time that suggests we’re going to see rates pop back up to where they were early this year, either.”

The association reported the supply of single-family existing homes statewide stood at 5.1-months’ supply, a 10.9% increase over last September.

“Months’ supply inventory is a useful indicator of market conditions,” the report stated. “The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything higher is traditionally a buyers’ market and anything lower is a sellers’ market.”

Statewide, the number of cash sales for single-family homes increased by 19.1%, with a total of 5,903 throughout Florida, which was just over 27% of all sales.

“Cash sales can be a useful indicator,” the report stated, “of the extent to which investors are participating in the market. Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing.”

Ocala/Marion County reported 725 single-family home closings, a 1.7% decrease from last September.

Townhouses and condos

The Ocala/Marion County townhouses and condos median sales prices came in at $192,000, a 16.5% decrease from last September. A total of 39 closed sales were reported.

“Over in the condo and townhouse category, we had a five-month streak of new listings being down year over year coming into September,” O’Connor said. “And in this case, the streak was preserved, with new listings falling by close to 7% compared to a year ago. This was the smallest decline we’ve seen since April, but still a respectable one by recent standards. This segment still has a decline in sales, but with new pending sales rising in September, closings could be up as well.”

Statewide, existing condo-townhouse properties were at a 9.1-months’ supply in September, an increase of 23% from September of 2024 and reported total active listings of 66,341. For the sector, the number of cash sales increased by 16.4% to 3,583 total and represented nearly 50% of the market.