Condominium prices in South Florida continued to decline in October, with an increase in available units for sale, while single-family home prices rose. New regulations following the Surfside tragedy require older condo buildings to undergo inspections and set aside funds for maintenance, leading to higher monthly assessments and more older condos on the market. Despite rising mortgage rates, cash transactions have kept sales steady. The median condo prices fell to $415,000 in Miami-Dade and $280,000 in Broward, while inventory remains below pre-pandemic levels.
Continue to full article
