After years of sluggish condo activity and hesitant buyers, September brought an unexpected surge—fueled by falling mortgage rates and pent-up demand finally being unleashed.
Single-Family Home Sales Skyrocket
All three major coastal counties in South Florida—Palm Beach, Broward, and Miami-Dade—reported jaw-dropping spikes in home sales last month.
- Palm Beach County led the charge, with single-family home sales soaring 497.7% year-over-year. In September 2024, just 264 homes sold; in September 2025, that number exploded to 1,566.
- Broward County wasn’t far behind, posting a 320.9% increase, jumping from 389 to 1,633 home sales in one year.
- Miami-Dade County, often the slowest market in recent years, also saw a major revival, with 1,443 sales in September—up 118.3% from last year.
Analysts credit the turnaround to lower borrowing costs. With the Federal Reserve announcing a 0.25% rate cut in mid-September, the average 30-year mortgage rate dipped closer to 6%, compared to the 7% range that discouraged buyers in previous years.
The Condo Comeback Few Expected
Perhaps the most surprising news: South Florida’s long-struggling condo market roared back to life.
- Palm Beach condos saw a 603.3% surge, with 1,716 sales compared to just 244 a year ago.
- Broward posted a 441.3% increase, jumping from 368 to 1,992 units sold.
- Miami-Dade recorded 2,209 condo sales, nearly triple the number from September 2024.
This surge marks a major shift for a segment that had been weighed down by oversupply and investor pullbacks. For many buyers, the recent drop in rates unlocked long-postponed purchase decisions, breathing new life into South Florida’s condo towers.
What This Means for Buyers and Investors
The message is clear: South Florida real estate is heating up again. Lower interest rates are driving more contracts, shrinking inventory, and creating urgency among buyers who had been sitting on the sidelines.
For investors, this revival signals a rare opportunity to capture growth in both the single-family and condo markets. For families, the current environment may be the window to secure financing before rates or prices shift again.
📞 Lendworth USA is here to help you navigate this fast-moving market. Whether you’re buying, refinancing, or exploring U.S. real estate as a Canadian investor, our team delivers quick, tailored mortgage solutions.
👉 Call us today at 905-597-1225 or email info@lendworth.ca to learn how we can help you move forward with confidence.