Right now, the median condo price in South Florida is holding at $249,000, but properties are taking their time—an average of 125 days on the market before closing. That’s a clear signal that buyers have more leverage than they’ve had in years.
📈 Inventory is high.
There are over 10,000 active listings, with 651 new condos hitting the market just this week. This includes:
- 564 brand-new listings
- 10 Coming Soon properties
- 77 Back on Market units (which often present great negotiation opportunities)
But the real headline? More deals are falling through than closing.
Only 197 condos sold, while 364 contracts were cancelled or failed to close. That’s nearly double the number of failed deals—a red flag for sellers and a green light for savvy buyers who are ready to negotiate.
💸 Price drops are everywhere.
In the past week alone, 794 sellers reduced their prices, compared to just 25 price increases. This trend tells us sellers are adjusting expectations and buyers are in a strong position.
What Does This Mean for You?
If you’re a buyer, now is a great time to negotiate a deal on a condo. With motivated sellers and softening prices, the market is tilting in your favor.
If you’re a seller, it’s more important than ever to price strategically and market aggressively to avoid sitting on the market or having a deal fall apart.
📞 Let’s build your winning strategy.
Whether you’re buying or selling, call me directly at (954) 807-1489. Let’s talk about your goals and put a plan in place that works in today’s changing market.
