Published by Peter Zalewski
10/27/2024 
8:19:56 PM 
This week’s Miami Condo Market Intelligence Report™ newsletter examines how cash-strapped condo associations – which are already budgeting to avoid falling victim to Florida’s looming 2025 Condo Association Financial Cliff – are now being told to prepare for additional costs from a projected last minute spike in insurance rates next year.
A condo association insurance expert said at a webinar this week that the pair of hurricanes – Helene and Milton – that hit the state’s west coast two weeks apart from late September to early October will have a material effect on prices in 2025.
This is an abrupt about-face from what condo associations were planning on in Florida.
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.
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