20,000 South Florida Vintage Condos Listed For Sale Near End Of Winter Buying Season

In this issue of the Miami Condo Market Intelligence Report™, we analyze the Q1 2025 South Florida Condo Association Financial Cliff Investors Index™ at the end of the Winter Buying Season.

Volume 2025, Issue 14 (Subscribe here)

For this week’s Miami Condo Market Intelligence Report™ newsletter, we explore the Q1 2025 results from the South Florida Condo Association Financial Cliff Investors Index™ in the first of a two-week series at the end of the busy 2024-25 Winter Buying Season, which stretches from November through April.

With one month to go before the hot and humid 2025 Summer Buying Season begins in May, we have compiled the statistics from the first 90 days of the South Florida Condo Cliff Index™ to better understand the current state of the local condo market and form a base-case outlook for the remainder of the year.

In crunching the numbers, a significant theme to emerge is the growing number of Vintage condos - units in buildings that are at least 30 years old - that are flooding onto the market, now totaling nearly 20,000 listings in the tricounty region of Miami-Dade, Broward and Palm Beach as of April 1, 2025.

Vintage condos represent about 70 percent of the Overall condos listed for resale in South Florida.

Back on Jan. 1, 2025, when the Condo Cliff Index™ launched, South Florida had less than 17,100 Vintage condos listed for resale.

This surge in Vintage condo listings represents more than a 16 percent increase in just about a 90-day period in 2025 as cash-strapped owners are attempting to get out as they face rising maintenance fees, hefty special assessments and surging insurance rates.

At the same time that the listings are spiking, the number of Vintage units going under contract - dubbed pending sales in the industry - jumped about 24 percent from about 1,175 units on Jan. 1, 2025, to nearly 1,460 on April 1, 2025.

If the number of Vintage condo listings and pending sales were to continue to grow at the same pace for the rest of the year, South Florida would have more than 31,000 Vintage units on the market for resale and an additional 2,800 units under contract by 2026.

A Vintage condo is not an industry designation but rather a term we began coining in August 2024 to identify older units that have existed for at least 30 years.

Vintage units had fallen out of favor with buyers in the aftermath of the Surfside condo collapse in June 2021 when nearly 100 people died and a $1 billion settlement was paid out to the families of the victims.

Fast forward to today where industry watchers have said that value-minded buyers may be willing to once again consider Vintage condos if the units are located in buildings that have completed their necessary life-safety examinations as required by the revised Florida Condo Law.

For context, our research shows that Vintage condos are typically listed for resale at discounts of as much as 80 percent off of the Overall asking price in a particular market.

As a result of the stepped up activity, the South Florida Vintage Condo Cliff Index™ has risen to 7.34 points on April 1, 2025, from 6.87 points on Jan. 1, 2025.

Unlike traditional condo sales statistics that lag weeks or months behind, the Miami Condo Cliff Index™ tracks weekly fluctuations in active listings and pending sales, providing a realtime snapshot of the South Florida condo market.

This approach offers a forward-looking perspective, previewing trends that will be reflected in upcoming quarterly statistics.

Higher values indicate a stronger market and lower values suggest a weaker market.  

Buyers should focus their attention on weaker markets to achieve deeper discounts while unit owners should only consider selling in stronger market to maximize sales pricing.

The Condo Cliff Index™ is calculated by dividing the number of pending sales in a geographical area into the number of active listings in that same area, and then multiplying by 100.

Our objective with this exercise is to share our latest research so that prospective investors can better assess each of the South Florida condo submarkets.

As part of any analysis, we would encourage investors to also consider reviewing our recent comprehensive reports ranking the South Florida condo market based on the following metrics:

• Months of supply listed for resale;

• Average asking price per unit;

• Average asking price per square foot;

• Average Days On Market (DOM);

• And the “1% Rule” of real estate investing.

For each of the markets, we have analyzed Vintage condos and Overall condos in South Florida.

We hope our research provides valuable insights into the South Florida condo market, and helps you to identify promising strategies and submarkets to focus on in the tricounty region all while avoiding value traps.

It is worth noting that we are sharing a portion of our research for free with subscribers to our newsletter and readers of MiamiCondo.Club.

If you want access to all of our published reports, statistical charts, monthly virtual meetings and meetup events, we would encourage you to join the Miami Condo Investing Club™.

The objective of the Club is to create a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida.

The Club is ideally suited for Do-It-Yourself (DIY) condo buyers and real estate professionals, alike, who can rely on our latest statistics, expert opinions and access to consulting services.

Additionally, we encourage you to listen or view our podcast wherever you get podcasts. The podcast is available on Apple, Spotify and or YouTube.

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.

— Peter Zalewski, Founder of the Miami Condo Investing Club™

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The views and opinions expressed in this report are for general informational purposes only. It is believed to be accurate and complete based on current market trends but cannot be guaranteed or warranted as circumstances change without notice. It should not be considered as financial, legal, tax or investment advice. This content should not be relied upon as the sole basis for making any financial decisions. Before making any investment or financial decisions, you should consult with a qualified professional to determine the suitability of any investment or strategy for your individual circumstances and goals.

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