: Median prices have dropped nearly 8% year-over-year from their 2023 peaks in some areas, offering a better entry point for new investors.
The Report That Exposed Miami's Condo Market - David Siddons Group
The market is currently experiencing a "cool down" period characterized by high inventory and price corrections:
: By law, buyers have a 15-day "Right of Rescission" period to review condo documents, including financial statements, rules, and regulations. Key Questions to Ask : Are there reserve funds for major repairs? Are there any pending special assessments or litigation? What is the building's insurance exposure ? Professional Guidance & Networking
: Miami-Dade currently has roughly 9.5 months of condo supply , the highest level seen since early 2021.
Investing in a Miami condo requires looking past views and finishes into the building's financial health:
: Recent Florida legislation has mandated stricter financial requirements and inspections for condo buildings, leading many owners to sell due to rising Homeowners Association (HOA) fees and special assessments.