Miami condo demand remains strong, especially for affordable older units, aided by new state condo regulations improving financing. Miami condo prices rose 117% over 10 years; single-family homes increased 139%. Inventory is below pre-pandemic levels, with a balanced market for single-family homes and a buyer's market for condos. Elevated mortgage rates and limited condo financing constrain sales, but $1M+ condo sales grew. Cash sales are high, reflecting strong foreign and investor interest.
Continue to full article
Leave a Reply