November 13, 2026

South Florida Realty Update Report, Nov. 13, 2026

Insights, market perspectives, and practical guidance to help you navigate buying, selling, and life across Palm Beach, Broward, Martin, St. Lucie and Indian River Counties.

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The South Florida real estate market heads into the middle of November with mortgage rates at a seven-week low and fewer homes for sale than a year ago in Miami-Dade, Broward and Palm Beach counties. Single-family prices were higher than a year earlier in all three counties in the latest county reports, while condo prices were mixed. Florida voters also approved a larger homestead exemption that starts in 2027.

This week at a glance

  • Mortgage rates: The 30-year fixed rate averaged 7.11% this week, down from 7.18% last week and the fourth weekly decline in a row, according to Freddie Mac. A year ago it averaged 6.24%.
  • Single-family prices: Median sale prices rose year over year in September in Palm Beach (up 6.7%), Miami-Dade (up 4.1%) and Broward (up 2.4%), according to MIAMI REALTORS + RWorld.
  • Fewer listings: Active listings were down 17.2% in Palm Beach, 14% in Broward and 10.1% in Miami-Dade from a year earlier.
  • Faster contracts: Single-family homes went under contract in a median of 39 to 43 days across the three counties, faster than a year earlier.
  • Property taxes: Amendment 3 passed with 62% of the vote, raising the homestead exemption for non-school property taxes starting in 2027.

Mortgage rates

Freddie Mac's Primary Mortgage Market Survey, released Thursday, Nov. 12, put the average 30-year fixed rate at 7.11%, down from 7.18% a week earlier. The 15-year fixed rate averaged 6.45%, down from 6.57%. Both remain nearly a point higher than a year ago, when they averaged 6.24% and 5.49%.

"Mortgage rates dropped to their lowest level in seven weeks, a welcome development," Freddie Mac Chief Economist Sam Khater said in the release.

The survey covers conventional, conforming purchase loans for borrowers who put 20% down and have excellent credit, so the rate an individual buyer is offered can differ.

South Florida real estate market, county by county

The most recent county figures are for September 2026, released Oct. 16 by MIAMI REALTORS + RWorld. October figures are scheduled for release on Monday, Nov. 16.

Miami-Dade County. Single-family sales fell 4.7% to 824, while the median sale price rose 4.1% to $692,000. Condo sales rose 1% to 909, and the median condo price slipped 0.7% to $417,090. Active listings fell 10.1% to 16,242. Single-family homes had 5.1 months of supply and condos 12.3 months. Single-family homes went under contract in a median of 41 days, down from 50 a year earlier. Cash buyers made up 38.3% of sales.

Broward County. Total home sales fell 9.7% to 1,825, and single-family sales fell 7.1% to 974. The median single-family price rose 2.4% to $641,500, while the median condo price fell to $235,000 from $275,000. Active listings fell 14% to 13,933, leaving 4.2 months of supply for single-family homes and 10.2 months for condos. Single-family homes went under contract in a median of 39 days, compared with 48 a year earlier. Cash purchases made up 38.8% of sales.

Palm Beach County. Total sales fell 3.3% to 1,914. The median single-family price rose 6.7% to $656,000, and the median condo price rose 3.3% to $310,000. Active listings fell 17.2% to 10,339, leaving 3.6 months of supply for single-family homes and 6.8 months for condos. Single-family homes went under contract in a median of 43 days, down from 51, and condos in 53 days, down from 65. Cash buyers accounted for 51.4% of sales. The county recorded 21 sales of $30 million or more through September, tying the total for all of 2025, the association said.

Statewide. Florida Realtors reported a statewide median single-family price of $415,000 in September, up 1.2% from a year earlier, on 20,537 closed sales, down 3.5%. The state had 4.4 months of supply for single-family homes and 7.7 months for condos and townhouses.

Local news that matters

Amendment 3 passes. Florida voters approved Amendment 3 on Nov. 3 with 62% of the vote, above the 60% it needed, according to results reported by News4JAX and the News Service of Florida. The measure raises the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. It also lowers the yearly cap on assessment increases for non-homestead property, such as rentals and commercial buildings, from 10% to 5%. People who were not Florida residents on Dec. 31, 2026, receive the current exemption at first and the larger one starting in their fifth year of residency, according to the same report. School taxes are not affected. Voters rejected Amendment 1, on the state's budget reserve fund, and Amendment 2, a farm property tax exemption. Exodus Realty's earlier post explains what Amendment 3 means for homeowners and buyers.

What to watch next week

  • Monday, Nov. 16: October home sales figures from MIAMI REALTORS + RWorld for Miami-Dade, Broward and Palm Beach counties.
  • Thursday, Nov. 19: Freddie Mac's next weekly mortgage rate survey.
  • Dec. 8 and 9: The Federal Reserve's next policy meeting, according to the Fed's calendar. Exodus Realty covered what the Fed's October decision means for South Florida.

For buyers and sellers

  • Buyers: A drop of a few hundredths of a point changes monthly payments only slightly, but rates are moving. Getting a current quote from a lender is the only way to know your own rate.
  • Sellers: With fewer listings than a year ago, single-family homes are going under contract faster in all three counties. Condo inventory remains much higher, at 6.8 to 12.3 months of supply, so condo pricing matters more.
  • Homeowners: The new homestead exemption amounts begin in 2027. The county property appraiser is the place to confirm your own exemption.

Questions about buying or selling in South Florida?

Call or text our team at (561) 420-9620 or email info@exodusrealtyfl.com. You can also read our monthly South Florida housing market report, the South Florida 55+ Price Report and more in the Exodus Realty Journal.

Sources

Figures come from the public sources listed above and may be revised by their publishers.

Featured photo: West Palm Beach skyline, August 2026 by Farragutful, Wikimedia Commons, licensed CC BY-SA 4.0.

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