South Florida Condo Prices Inflated By Nearly 127%

South Florida condo prices in the 2024 Summer Buying Season – that extends from May through October – traded at a rich premium based on the “1% Rule” commonly used by investors.

The “1% Rule” can “help an investor gauge the risk and potential gain that might be achieved by investing in a property,” according to Investopedia. (Photo courtesy of CVRRealty.com)

South Florida condo prices have spiked since 2021, making it increasingly challenging for profit-driven investors who want to purchase units in the tricounty region of Miami-Dade, Broward and Palm Beach.

Rising property values from strong demand, skyrocketing insurance prices following the Surfside condo collapse and stubbornly high interest rates from a series of hikes by the Federal Reserve brought the South Florida housing market to a standstill in the second half of 2023.

Industry watchers are at odds as to the direction of the South Florida housing market going into 2025.

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As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006.

If you are seeking information on condo resales in South Florida, please visit CondoVulturesRealty.com or call the office at 305.865.5859.

This information is provided for general informational purposes only, based on research, personal experience and interviews. It should not be considered legal advice, as we are not attorneys. While believed to be accurate and complete, this information is provided “as is” without warranty or guarantee of any kind.

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