Florida home prices: Mortgage rates drop, pending sales go up

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

The Florida Realtors Association August 2025 market shows that, statewide, the median single-family home sale price dropped to $410,000, a decline of 0.4 % compared to August of 2024. Townhouses and condo median sales price were reported at $290,000, a 6.5% year over year decrease from last August.

The statewide active listing inventory for single-family homes was 108,762, an increase of 13.1% over last year. Statewide inventory for condos and townhomes was reported at 647,478, a 14% increase.

Single-family market

Ocala/Marion County’s August median sale price reported for single-family homes was $285,990, which is a 1.4% decrease from 2024.

“Pending sales were up by a significant margin,” said Brad O’Connor, senior economist for the Florida Realtors, a statewide agents’ reporting and professional trade association. “That’s something we haven’t seen in a while, at least at this magnitude. These sales were up by 10% over last August. The most likely reason is that mortgage rates fell to new lows early in the month. Rates have continued to decline in September.”

Sellers are also having more realistic expectations about home prices, he said.

“Optimism among potential sellers that their homes should still fetch 2022 prices has waned over time as the reality of the market has set in,” he said.

The association reported the supply of single-family existing homes statewide stood at 5.3-months’ supply, a 17.8% increase over last August.

“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 .5% with a total of 5,907 throughout Florida, which was just over 27% of all sales.

“Cash sales can be a useful indicator 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,” the report stated.

Ocala/Marion County reported 752 single-family home closings, a 5.9% decrease from last August.

Townhouses and condos

Locally, the townhouse and condo median sales prices came in at $208.535, a 5.2% decrease from last August. A total of 50 closed sales were reported.

“This segment still has a decline in sales, but with new pending sales rising in August, closings could be up as well,” O’Connor said. “However, August’s decline was typical for this category in 2025, which is reflected by the fact that we are also down 12% for the year overall.”

Statewide, existing condo-townhouse properties were at a 9.3-months’ supply in August, an increase of 29.2% from August of 2024, with reported total active listings of 67,478. For the sector, the number of cash sales increased by 2.2% to 3,700 total and represented nearly 50% of the market.