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Broward County

Condos:

Broward’s condo market remains the most challenged segment in South Florida. With over 56 months of inventory, the market is deeply oversupplied, and buyer demand continues to lag behind new listings. Median sold prices are significantly below median active prices, confirming that sellers must discount to move properties. Extended days on market further highlight buyer hesitation, driven by rising HOA fees, insurance costs, and stricter lending standards for older buildings. This is firmly a buyer-dominated market, where negotiation leverage is exceptionally strong.

Single-Family Homes:

While single-family homes are more resilient than condos, Broward is still operating in a clear buyer’s market with nearly 24 months of inventory. Sales activity is steady but selective, and pricing gaps between active and sold listings suggest that homes priced above market expectations are sitting. Well-located, move-in-ready properties can still sell, but pricing accuracy is critical.

Miami-Dade County

Condos:

Miami-Dade’s condo market is softer than historical norms but notably stronger than Broward. With approximately 18 months of inventory, buyers still hold leverage, but demand—especially for newer, well-managed buildings—remains present. The spread between active and sold prices suggests ongoing price discovery, and longer days on market show buyers are negotiating aggressively rather than rushing into deals.

Single-Family Homes:

Miami-Dade’s single-family segment is the healthiest market in South Florida. Inventory remains under 10 months, indicating a relatively balanced environment. Demand is supported by lifestyle migration, limited land availability, and international interest. While buyers are more price-conscious than in past years, quality homes continue to transact without extreme concessions.

Palm Beach County

Condos:

Palm Beach condos show a moderate buyer’s market, with inventory just under 14 months. This segment is more stable than Broward but still requires realistic pricing. Shorter days on market compared to neighboring counties indicate stronger buyer engagement, especially in lower price points and communities with stable HOA finances.

Single-Family Homes:

Palm Beach County stands out with near-balanced market conditions, holding just over 7 months of inventory. Sales volume remains strong, and pricing holds up better than elsewhere in South Florida. Buyers are active, but still cautious, making inspections and concessions part of most transactions.

Key Recommendations

For Buyers:

• Condos in Broward and Miami-Dade present exceptional negotiating opportunities, including price reductions, closing cost credits, and favorable terms.

• Single-family buyers should focus on Palm Beach and Miami-Dade for stronger long-term stability.

• Use extended days on market as leverage—time is on the buyer’s side in most segments.

For Sellers:

• Pricing strategy is critical. Overpricing will result in extended market time and larger eventual price reductions.

• Condos must be positioned aggressively, especially in older buildings with rising HOA fees.

• Single-family sellers in Miami-Dade and Palm Beach still have opportunities, but must be market-aware and prepared for negotiations.

For Investors:

• Distressed or discounted condos in Broward may offer long-term value, but require careful due diligence.

• Single-family rentals in Palm Beach and Miami-Dade remain the most stable investment plays.

• Cash buyers are best positioned to capitalize on current conditions.

Overall Professional Conclusion

December confirms that Condos—particularly in Broward County—are under significant pressure, firmly favoring buyers and rewarding patience and negotiation. Single-family homes continue to outperform, especially in Miami-Dade and Palm Beach, where inventory remains comparatively tight. The market is no longer driven by urgency or speculation, but by fundamentals: pricing, condition, location, and financial stability of properties. As we move forward, success for buyers, sellers, and investors alike will depend on strategy, data-driven decisions, and realistic expectations in a market that has clearly shifted away from its post-pandemic highs.