Published by Peter Zalewski
7/1/2024 
11:03:05 PM An overwhelming majority of the condo associations in Greater Downtown Miami are not ready for Florida’s 2025 Condo Association Financial Cliff.
Florida Rep. Vicki Lopez (R – District 113) said about 70 percent of the condo associations in her legislative district that includes Key Biscayne and most of Greater Downtown Miami have completed the state mandated Structural Integrity Reserves Study (SIRS) some six months before the 2025 deadline.
“I have 667 condo associations just in House District 113, and I’m finding that maybe, a handful, 30 percent, have completed their Structural Integrity Reserve Study,” Lopez told WLRN’s “Florida Roundup” host Tom Hudson during the June 28, 2024 episode. “Many others have been making an attempt to find a company in which to do it by the deadline.
“And unfortunately, many of the companies now cannot meet that deadline and are giving people (from inquiring condo associations) dates somewhere in the early 2025.”
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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.
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