The Condo Slowdown Blamed on Florida Is Happening Almost Everywhere

Every conversation about Florida condos lately starts the same way. Insurance premiums are out of control. HOA boards are hitting owners with special assessments to cover milestone inspections. Buyers are scared off. The assumption underneath all of it is that Florida broke something the rest of the country didn't.

A new nationwide analysis says otherwise, and the numbers are worth sitting with.

Condo values have grown just 1% over the past four years, a period when mortgage rates climbed and stayed high. Single-family home values grew 6% over the same stretch. Look at the past year alone and condos trailed houses in 91 of 97 of the country's largest metro areas. This is close to universal, not regional.

The mechanics behind it are the same almost everywhere too. Condo owners have been listing aggressively. New condo listings have gone from 27% below their normal pace in August 2023 to just 15% below normal now, a real recovery in supply. Demand has not kept up at the same rate. Closed condo and co-op sales nationally sit about 22% below pre-pandemic levels. More units coming to market, fewer buyers closing on them, and the math on prices does what that math always does.

Florida's version of this is simply sharper, not different in kind. Local condo values ran roughly 70% above pre-pandemic levels by late 2023, one of the steepest run-ups in the country. They have since slid back to about 41% above pre-pandemic, and the typical South Florida condo now sits on the market for around 118 days before going under contract, well above the pre-pandemic norm.

I think that distinction matters more than it sounds like it should. Insurance costs and the reserve requirements that came out of the post-Surfside reforms are real pressure on condo owners, and I am not waving that away. But they are accelerating a repricing that is happening to condos as an asset class nationally, not causing it by themselves. If the thinking is that a future legislative fix, a rate cut, or a reserve-law tweak will snap Florida condo prices back to where they were, the national data says that bet does not have much to stand on. Houses are not seeing the same slowdown. Condos, specifically, are.

For owners and sellers, that argues for pricing to the market that exists now rather than the one from 2022 or 2023. A listing that sits because it is priced for a cycle that already ended just adds to the 118 days, and buyers notice time on market before they notice much else.

For buyers, it argues the opposite way. A slower market with more inventory and more days to decide is leverage, not a warning sign to wait on the sidelines for. The unit that would have had five offers in 2022 may have one offer now, yours, if you are paying attention.

None of this means every condo building is a good buy right now. Reserve studies, insurance quotes, and a building's financial health still matter building by building, more than ever. But the broader slowdown itself is not evidence that something is specifically wrong with Broward or with Florida. It is evidence of a national shift in how condos are priced relative to houses, and Florida just got there first and hardest.

If you are trying to figure out what that means for a specific building, in Davie, Weston, or anywhere in Broward, send me the details and I will walk through the actual numbers with you.

Roger Averbuj, Broker | Prestige Heritage Realty | (954) 663-8461

Source: It's Not Just Florida: Condo Prices Stall Across The U.S., Analysis Shows, Inman, October 5, 2026.