Poll Results: South Florida Condo Prices Likely To Fall, Selling Now Smartest Move
Our unscientific poll found that respondent are bearish on the 2025 outlook for the tricounty South Florida region of Miami-Dade, Broward and Palm Beach in 2025.
The bears have it.
At least, that’s what our two-week-long, unscientific poll to gauge the sentiment of our readers has concluded about the outlook for the 2025 South Florida condo market.
This is not good news for sellers, listing brokers and developers, alike, who are already coming off an underwhelming 2024 when condo sales decreased, resale supply increased and many participants complained of a lack of activity following the go-go days of 2021, 2022 and 2023.
Based on the final poll results, many of the voters - a pool of 40 people or so - are expecting condo prices to fall throughout the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.
A majority of voters are also recommending that this is not a time to buy a condo but rather a moment to sell.
That is, if you can find a buyer given rich condo prices, skyrocketing association fees and stubbornly high mortgage rates.
Voters also said that maintenance fees and special assessments will be the biggest issue impacting the South Florida condo market in 2025 ahead of insurance costs, mortgage rates and asking prices.
A majority of voters are in favor of the Florida Legislature taking steps in the to assist cash-strapped condo owners who are facing the ramifications of the he 2025 Florida Condo Association Financial Cliff.
On that note, a majority of voters said the 2025 Condo Cliff is a serious issue and not simply hyperbole from pessimists. The “Chicken Littles,” if you will.
Finally, voters are divided on whether the new presidential administration will have a positive impact on South Florida condo prices in the upcoming year.
We conducted this anonymous poll in an effort to measure the sentiment at the start of this consequential new year that we have dubbed the 2025 Condo Cliff.
The 10-question poll was open to voters for a two-week period from Thursday, Jan. 2, to Friday, Jan. 17.
We sent out the poll to our nearly 16,000 newsletter subscribers around the world and promoted it on our social media accounts.
We thank everyone who participated and encourage you to do so for all future polls.
Here are the results as promised.