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Why Condo Values, Sales Are Dropping in South Florida

Why Condo Values, Sales Are Dropping in South Florida

The South Florida condo market is facing a crisis as stricter regulations take effect, leading to a 7% drop in sales across Miami-Dade, Broward, and Palm Beach counties. The number of condos for sale surged by 60% in Miami-Dade, impacting values. New state laws, prompted by the Surfside collapse, are causing concern among owners about potential assessments and financial responsibilities. Experts predict ongoing volatility, with many owners possibly unable to afford assessments, leading to increased vacancies and a challenging market ahead.

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A Bespoke Real Estate Experience

From private listings to strategic negotiations, Kelby Contreras offers an elevated, client-focused approach to luxury real estate in Miami. With a keen eye for detail and a passion for excellence, he ensures that every property search, sale, or investment is handled with precision, discretion, and sophistication.

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