Published by Peter Zalewski
10/27/2024 
8:13:33 PM 
The cost of owning a condo in Florida can be expensive but it is even more costly for unit owners in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach due to exorbitant insurance premiums.
The latest rankings of the average insurance premiums charged to condo unit owners in Florida shows that Miami-Dade County ranks as the second most expensive at about $2,987 annually. (See chart below)
This average annual insurance premium works out to nearly $250 monthly plus any deductibles if – and when – a claim is filed for Miami-Dade County condo owners.
Condo Market Inventory Tracker
A Snapshot Of Tricounty South Florida Region Of Miami-Dade, Broward And Palm Beach
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 24,016 | 10.2 |
| Luxury Condos | 3,740 | 15.1 |
| Shortsales | 30 | 15.0 |
| REOs | 126 | 6.6 |
| Rentals | 21,476 | 3.9 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
Confused about whether it is the appropriate time to buy or sell a condo in South Florida? The experts at CVR Realty are here to assist you in crafting a strategy during this uncertain time. Unlike many brokers offering services, our organization has been through the cycles and can assist you to capitalize on the situation.
For a free consultation, please contact the South Florida Condo Experts
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