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FLORIDA - South Florida’s real estate market is experiencing a notable shift, with March marking the highest level of home and condo listings in six years.
According to the Miami Association of Realtors, active listings for condos and townhomes in Miami-Dade have climbed over 13,000, up 43.5% from last year.
However, this influx hasn’t translated into more sales.
Condo prices dipped nearly 2%, and closed sales dropped more than 5%.
In Miami-Dade, single-family home sales declined slightly from 1,041 in March 2024 to 961 in March 2025.
Townhome and condo closings also fell year-over-year. Broward County showed similar patterns, with inventory rising 43.4% and median prices falling by 3%.
Single-family home closings dropped to 1,062, while condo and townhome sales fell sharply from 1,197 to 1,070.
Experts point to stricter state regulations as a major factor in the condo market’s slowdown.
Following the 2021 Champlain Towers South collapse, Florida mandated structural inspections for buildings over 30 years old, along with reserve studies and potential special assessments.
These additional costs are often passed to buyers through higher prices or increased HOA fees.
Still, the outlook isn’t entirely negative. Median prices for single-family homes are up in both Miami-Dade and Broward, and the market is considered balanced.
For condos, it’s now a buyer’s market, offering negotiators more flexibility on price and terms.
With inventory rising and regulations reshaping the landscape, buyers may find more leverage, particularly in the condo segment.