Florida Luxury Home Sales Rise 9.6% as July Market Shows Early Rebound

2 articles · Updated · Realtor.com News · Aug 20

July brought a strong pickup in Florida home sales and recovering prices, with the state outperforming a still-weak national housing market, according to economists cited in the report.
Luxury demand led the rebound: $1 million-plus sales rose 9.6% year over year and made up 11.4% of Florida transactions, while pending luxury sales jumped 22.1% for single-family homes and 24.1% for condos.
Broader conditions also improved, though unevenly. Florida home sales are still down 6.1% so far in 2026 versus an 8.2% national drop, and median days on market fell 6.4%; sub-$1 million sales are estimated down about 8%.
Miami stood out with luxury listing prices up 20.9%, while statewide luxury prices rose about 1% and single-family inventory fell 17.1%, suggesting tighter supply at the top end.
The rebound still sits atop structural strains: Florida needs 121,000 new housing units, and the governor's race will shape responses to insurance costs, property taxes and stalled zoning reforms.