Pending Sales Jump, Spurring 3.9% Rise In South Florida Vintage Condo Cliff Index™
The Feb. 18, 2025, update to the Miami Condo Cliff Index™ shows that the South Florida market for Vintage condos that are at least 30 years old has further strengthened.
Spurred on by a jump in pending sales, the South Florida Vintage Condo Association Financial Cliff Index™ increased by nearly four percent on a week-over-week basis as of Feb. 18, 2025.
This is the third-straight week that the South Florida Vintage Condo Cliff Index™ has strengthened for condos that are at least 30 years old.
Concurrently, the South Florida Condo Cliff Index™ that tracks Overall condos in the tricounty region of Miami-Dade, Broward and Palm Beach also increased, rising by nearly 3.25 percent on a week-over-week basis.
This is the fourth straight week that the South Flordia Condo Cliff Index™ that tracks Overall condos has increased.
It is unclear if the sudden surge in the South Florida Condo Cliff Index™ is the beginning of a long-term trend or instead a short-lived “sugar high,” of sorts, resulting from the influx of visitors - many of which are prospective buyers - in town for the attractive weather, extensive events and carnival-like vibe at this time of year.
What is clear is that the each of the markets in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach has shown significant week-over-week improvements since Jan. 28, 2025, reversing the mixed results from the first three weeks of the year.