Property Official: Miami Faces 'Next Great Crisis' As Condo Values Fall In 2025

In this issue of the Miami Condo Market Intelligence Report™, we evaluate a warning from Miami-Dade County Property Appraiser Tomas Regalado that a condo market downturn has officially begun.

Volume 2025, Issue 23 (Subscribe here)

For this week’s Miami Condo Market Intelligence Report™ newsletter, we explore a new report from Miami-Dade County Property Appraiser Tomas Regalado that reveals condo prices are falling in several coastal markets based on the latest estimates as of June 1, 2025.

Club Member Exclusive: Charting Miami-Dade County Property Value Estimates For 2025

Regalado - a former Miami mayor before being elected to his current role with the county - warned during a June 2, 2025, press conference that condo values across Miami-Dade County are declining after years of rapid appreciation, according to a Miami Herald report.

“The condos are the next great crisis, because of a perfect storm,” Regalado told the Miami Herald.

Our June 2024 prediction of a 2025 Florida Condo Association Financial Cliff is unfolding, with Regalado blaming Miami-Dade County’s decreasing condo values on a slowdown in resales resulting from rising maintenance fees, hefty special assessments and pricey insurance rates.

During the press conference, Regalado identified some of the Miami-Dade County condo markets that are experiencing the worst price declines, including:

• Coral Gables (-5 percent);

• Aventura (-4 percent);

• North Bay Village (-4 percent);

• And North Miami (-3.4 percent).

All of these markets were highlighted last week in our report ranking the best and worst condo markets in South Florida.

Our report - based on the Miami Condo Cliff Index™ as of May 27, 2025 - provided a broader analysis than Regalado’s estimates, which focused exclusively on Miami-Dade County.

Our analysis examined South Florida and 22 additional submarkets located throughout the tricounty region of Miami-Dade, Broward and Palm Beach.

The Index - officially named the Miami Condo Association Financial Cliff Investors Index™ - was created on Jan. 1, 2025, to coincide with the start of Florida’s 2025 Condo Association Financial Cliff.

The Miami Condo Cliff Index™ is a weekly measurement that tracks the financial health and stability of the South Florida condo market based on active listings and pending sales for all condos and Vintage condos at least 30 years old in the tricounty region of Miami-Dade, Broward and Palm Beach.

Unlike traditional condo sales statistics that lag weeks or months behind, the 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.

We used our Index results to determine the rankings of the best and worst South Florida condo markets, where higher numbers indicate stronger markets and lower numbers suggest weaker markets.

For anyone interested in utilizing our Index for planning purposes during the 2025 Summer Buying Season, we would suggest the following:

• Buyers should consider focusing on the worst markets as that is where they are likely to find the most compromising sellers and the biggest discounts in South Florida.

• Sellers with condo units located in the best markets can probably afford to be more patient in response to low-ball offers.

We are pleased to offer a portion of our research for free to our newsletter subscribers and MiamiCondo.Club readers, providing a glimpse into our insights.

For full access to our comprehensive reports, statistical charts, virtual Monthly Meetings and exclusive MeetUp events, we invite you to join the Miami Condo Investing Club™.

The Club's mission is to foster a community that shares realtime, actionable intelligence on the latest real estate trends, emerging opportunities and trusted service providers throughout South Florida.

Whether you are a Do-It-Yourself (DIY) condo buyer or a seasoned real estate professional, the Club provides invaluable resources, including up-to-date statistics, expert analysis and access to tailored consulting services.

We also encourage you to explore our podcast, available on all major platforms such as Apple, Spotify and YouTube, for insightful discussions and updates.

As always, our consulting, expert witness and buyside brokerage services remain available to you, building on our established reputation since 2006.

For specific information regarding discounted condo resales or bulk deals in South Florida, please visit CondoVulturesRealty.com or contact our office directly at 305.865.5859.

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

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This information is intended for general informational purposes only and is based on research, personal experience, and interviews. It does not constitute legal advice, as we are not legal professionals. While we strive for accuracy and completeness, this information is provided on an "as is" basis, without any warranties or guarantees.

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