Are condo prices falling in South Florida right now?

For the three months through September 2026, Miami-Dade condos and townhomes sold at a median of about $417,000, down less than 1 percent from a year earlier. In Broward, the condo median was about $235,000, down roughly 14.5 percent, per Florida Realtors figures.

Compare that with single-family homes in the same report: about $692,000 in Miami-Dade, up 4.1 percent, and about $641,500 in Broward, up 2.4 percent. The two property types are clearly moving in different directions.

Condo inventory has been running at double-digit months of supply in many areas, far more than the few months typical of a balanced market. New listings keep coming while buyers move slowly, which leans the negotiating table toward buyers.

Higher insurance and association costs, plus financing hurdles in buildings that have not completed their inspections or reserve studies, have also cooled demand. A low price on a building with a large pending assessment is not the bargain it appears to be.

You have more choice and more time than condo buyers have had in years. Asking prices are more negotiable, and sellers are more willing to consider reasonable terms.

Because the monthly costs can shift quickly, the real comparison is total cost: price, mortgage, insurance, association fees, and any special assessment on the horizon. A slightly higher price in a healthy building is often the better buy.

Honest pricing and a well-presented unit matter more than they did a few years ago, because buyers have options. The buildings that move are the ones priced close to recent sales, with documents ready to review.

If your building has completed its inspection and SIRS and holds healthy reserves, that is a selling point worth featuring in the listing.

I read the association documents and the market data together, so you compare buildings fairly instead of comparing only prices. I also negotiate with the building's true cost picture in mind.

Whether you are buying or selling a condo, we build the strategy around the segment you are actually in, not a countywide headline.