Legacy Peak Realty LLC | 27 September 2026
Weekly Market Update: Florida & Virginia Real Estate (Week of September 27, 2026)
The housing markets in Florida and Virginia reached a turning point in August. For the first time in about a year, fewer homes sold than a year earlier in both states. Home prices, however, kept climbing. The main reason for the slowdown is mortgage rates, which have risen noticeably over the past month.
Mortgage Rates Cross 7%
Freddie Mac’s weekly survey shows the 30-year fixed-rate mortgage averaged 7.03% as of September 24, up from 6.95% the prior week. A year ago it averaged 6.30%. That makes five straight weeks of increases and the first time the benchmark has topped 7% since January 2025. The 15-year fixed rose to 6.42%. Freddie MacWrenews
There is some good news for veterans and active-duty buyers. The average 30-year VA rate was 6.82% as of September 23, below the conventional average. If you’re relocating to the area for NAS Jacksonville, a VA loan may be one of your best tools right now. Wrenews
Florida: A Market Leveling Off
Florida’s median single-family sale price rose just over 1% from August 2025 to $415,000, the sixth straight month of year-over-year gains. Condos and townhouses climbed nearly 3% to just under $298,000. Sales dipped slightly, but the state’s chief economist described the numbers as a market leveling off rather than changing direction. Inventory for both single-family homes and condos fell by double digits from a year earlier, which is helping hold prices steady. Florida home prices hold firm in August | Florida Realtors +2
Northeast Florida: Clay and Duval Counties
Here at home, buyers are gaining more choices as the region moves toward a more balanced market. The median single-family price across the six-county area slipped 1.6% to $397,420, and homes spent a median of 31 days on the market. News4JAX
Clay County continues to stand out. The median price rose 2.5% to $369,000, with 960 active listings and about four months of supply. Clay was also one of the few First Coast counties with more closings than a year ago, up 10%. Many buyers priced out of St. Johns County are finding more home for their money in Clay. Jax Daily RecordFlorida Politics
Duval County held steady. The median price was unchanged from July at $335,000, homes sold in a median of 25 days, and the county had about a 3.4-month supply of homes. News4JAX
Virginia: More Homes for Buyers
Virginia recorded 8,985 closed sales in August, a 4.6% drop from last year and the first annual decline in nearly a year. Even so, the statewide median price reached $449,000, up 4.4%, and homes spent a median of 19 days on the market. Buyers have more options there too, as active listings climbed 13.8% to 28,560, the largest August inventory since 2019. Henrico CitizenHenrico Citizen
What This Means for You
If you’re buying, you have more choices and more room to negotiate than you did this spring, especially in Clay County. Higher rates make it even more important to get pre-approved and explore every financing option, including FHA, VA, and USDA loans and down payment assistance programs.
If you’re selling, buyers are still out there, but they’re more selective. Pricing your home correctly and presenting it well from day one matters more now than it has in a while.
Have questions about what these numbers mean for your home or your next move? Contact Legacy Peak Realty. We’re here to help you navigate the Clay and Duval County market with confidence.
Sources: Freddie Mac, Florida Realtors, Northeast Florida Association of Realtors, Virginia REALTORS. Market statistics reflect August 2026 data and are not a valuation of any specific property.
