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What’s Happening With Condo Sales in Miami and Broward? Look at the Prices and Supply

Residential Rajkumar Ramkerath October 5, 2024

The South Florida condo market is experiencing a downturn, with prices falling, sales slowing, and inventory increasing. Condo associations are raising fees and implementing special assessments due to a new Florida law requiring spending plans for major repairs. In August, Miami-Dade County saw a slight price drop to $415,000, while Broward County remained stable at $275,000. Sales in Miami-Dade decreased by 8%, and Broward by 6%, with inventory levels indicating a buyer's market.

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