What’s Happening with Condo Sales in Miami and Broward? Look at The Prices and Supply

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.