Rising condo sales signal opportunity as Florida market stabilizes
Florida condo and townhouse sales rose 7% year over year in April, with pending sales up nearly 15%, giving agents new tools to re-engage affordability-focused buyers statewide.
Three years ago, new safety regulations enacted after the Surfside condominium collapse disrupted Florida’s condo market. Association fees climbed. Insurance became more difficult and expensive to secure. Mortgage financing grew more complicated. Buyers pulled back, and sales slowed sharply.
That adjustment period now appears to be easing, and the numbers are starting to reflect it, Florida Realtors® Chief Economist Dr. Brad O'Connor said.
According to April housing data, closed condo and townhouse sales in Florida rose about 7% year over year, more than double the increase seen in single-family home sales statewide, O'Connor said. Even more notable: new pending condo sales, which track properties going under contract and often signal future closings, surged nearly 15% compared to April 2025.
That may signal buyer demand is not only stabilizing, but strengthening.
"The condo market is starting to make up some of the ground it lost relative to the single-family market, O'Connor said in his April market report. "Given that housing affordability is still a challenge across the state, other things equal, condos remain one of the more affordable options in many local Florida markets."
At the same time, condos are still taking longer to sell than single-family homes.
The median time from listing to contract for condo and townhouse sales reached 60 days in April, four days longer than a year ago and nine days above 2019 levels. O’Connor said reserve requirements and financing complexities continue to create a more complicated environment for condo transactions.
Still, the broader trend suggests the condo market is healthier than it was several years ago, and Realtors® who understand how to explain those changing conditions may be better positioned to help buyers and sellers navigate the evolving market. The shift may create new opportunities with buyers who previously focused only on single-family homes but are now reconsidering condos as costs stabilize and market conditions become more predictable.
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