South Florida Market Update — September 2026

Here is the honest, up-to-date read on the South Florida housing market for September 2026: prices are still rising at the county level, but the pace has slowed, single-family inventory is tighter than it was a year ago, mortgage rates are sitting around 6.8%, and the best leverage right now belongs to buyers who are flexible about property type. This update is based on the most recent complete monthly data available, the Miami Realtors July 2026 reports released August 17, 2026, plus current mortgage rate data from Freddie Mac and Bankrate. I have focused on what matters if you are shopping or selling in the $250,000 to $600,000 range in Palm Beach and Broward counties, in communities like Delray Beach, Boca Raton, Boynton Beach, Deerfield Beach, and Lighthouse Point.

If you are a first-time buyer or relocating professional, the questions you are asking are the ones I am answering here: Is now a good time to buy? Are prices going up or down? Is inventory improving? And what should a seller in this price range expect? Here is what the numbers actually show.

Are prices going up or down?

Prices are still going up in the countywide data, just slower than the pandemic years. According to the Miami Realtors July 2026 report, Palm Beach County's single-family median sale price was $660,090, up 7.64% year-over-year from $613,250. Broward County's single-family median was $650,000, up 4.84% year-over-year. Condo medians tell a different story: $312,500 in Palm Beach County (up 3.99% from a year ago) and $255,000 in Broward County (down 3.77% from $265,000).

A caveat that matters for everyday buyers: countywide medians are pulled up by luxury waterfront sales that most of us will never shop for. The picture changes when you zoom into the cities and price bands where $250,000 to $600,000 actually buys something:

Sources: Momentum MLS city market reports (August 2026), mybrokerone, Houzeo, PBP Real Estate / BeachesMLS (Deerfield Beach, August 2026), Zillow (Lighthouse Point, July 31, 2026). City-level medians vary by data provider, data window, and property type.

What this means for you: in the mid-range band, prices are roughly flat to modestly up in most of the cities we talk about. Boynton Beach's median sale price was $411,250, up just 1.3% year-over-year according to Momentum MLS, and sellers are averaging about 92.5% of asking price. Delray Beach's all-property-type median of about $348,750 is actually down about 1.1% from a year ago, which is close to flat. None of this looks like a crash, and it does not look like 2021 either. It looks like a normalizing market where the right price is the whole game.

Inventory: single-family homes are tighter than a year ago

This is the biggest surprise in the latest data. If you heard that South Florida was drowning in inventory, the July 2026 numbers point the other direction for single-family homes. Miami Realtors reported Palm Beach County single-family inventory at about 3.7 months of supply in July, still a seller-leaning market, with active listings at 10,443, down 21.1% year-over-year from 13,235. Delray Beach is running close to 2.8 months of supply per Momentum MLS, with homes taking roughly 59 to 90 days to go under contract.

Source: Miami Realtors July 2026 reports, Momentum MLS city market data, BuyingSouthFlorida / True Oak Realty Deerfield Beach market update (July 2026).

The practical read for buyers: in the $250,000 to $600,000 single-family band, especially under $500,000, competition is still real, because that inventory never recovered from the undersupply of the early 2020s. The softness is concentrated in condos and townhouses, where Deerfield Beach's median condo price is around $170,000 and inventory is deep enough to give buyers real negotiating power. If a condo or townhome fits your life, that is where the leverage is right now.

Sales volume backs up the picture of an active market. Palm Beach County posted 2,250 closed sales in July 2026, up 15% year-over-year, its 11th consecutive month of growth, with single-family sales up 12.74% and condo sales up 18.55%. Broward County closed 2,157 sales, up 2.6%, its fifth straight month of gains.

Mortgage rates: right around 6.8% as of mid-September

Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed rate at 6.76% for the week ending September 10, 2026, up from 6.71% the prior week and from 6.35% a year ago. Bankrate's national average was running around 6.90% as of September 14, 2026. Rates have been bouncing in a roughly 6.7% to 6.9% band for weeks.

For a buyer in the $250,000 to $600,000 range, the practical math is simple: the monthly payment at 6.7% to 6.9% is meaningfully higher than at the 3% rates of 2020 and 2021, but right in line with the historical average for a 30-year mortgage. What softens the sting is everything else: Florida's down payment assistance programs, seller-paid closing cost credits, and rate buydown negotiations. Those are doing real work in this market right now. We cover the full menu in the Financing & Mortgage Basics guide.

What this means for buyers (is now a good time to buy?)

Yes, it can be, especially if you are flexible. Here is the honest version: prices in the mid-range neighborhoods are roughly flat, which removes the biggest fear of buying late in a run-up. Rates are elevated but not out of line with history, and if they ease later, you can refinance. The real constraint is inventory: affordable single-family homes under $500,000 in Delray Beach, Boca Raton, and Boynton Beach are still snapped up, so you need to be pre-approved and ready to move. Condo and townhome shoppers, by contrast, are in the best position in years, with deep inventory and sellers offering concessions.

The moves that matter right now:

• Get pre-approved before you shop, and look at the First-Time Buyer Guide for the full walkthrough.
• Count Florida programs like the Hometown Heroes down payment assistance and Florida Bond loans into your budget. Up to $35,000 in help changes what you can afford.
• Look at condos and townhomes in Deerfield Beach, Boynton Beach, and eastern parts of Delray Beach, where prices sit well inside your band.
• Ask for seller credits toward closing costs or a buydown. In today's market, sellers are saying yes more often than they did two years ago, especially above $400,000.

What this means for sellers in the $250K-$600K range

Sellers are still in decent shape, but the rules of 2021 are over. Single-family sellers are selling: Boynton Beach homes went under contract in about 53 to 70 days in the latest data, Deerfield Beach single-family homes in roughly 86 to 91 days, and buyers are paying around 92% to 94% of asking in those cities. The two things that decide your outcome are price and presentation. Homes priced competitively from day one are the ones getting offers close to list; homes that start high sit, go stale, and close below comparable sales.

If you are about to list a home in this range, spend your energy on pricing it right, cleaning it up, and getting professional photos before you worry about anything else. For the full game plan, see the Selling Your Home guide.

Quick answers for first-time buyers and relocators

Bottom line

The South Florida market in September 2026 is normalizing, not crashing and not boiling over. Countywide medians are still climbing at a modest pace, single-family inventory is tight, condos are the buyer's market, and rates around 6.8% are high by recent memory but ordinary by history. For buyers, that adds up to a workable market if you come prepared. For sellers, it adds up to a market that rewards the right price.

Every situation is different and the county numbers only tell part of the story. If you want to talk through your specific budget, neighborhood, or sale, I am happy to help.