South Florida Condo Cliff Index™ Experiences Sudden Surge
The Feb. 11, 2025, update to the Miami Condo Cliff Index™ shows that the South Florida market for Overall condos and Vintage condos has suddenly strengthened.
Is South Florida’s condo market experiencing a temporary boost or the beginning of a market reversal?
This is the question that will need to explored in the upcoming weeks after the South Florida condo market suddenly strengthened at the halfway point of the 2024-25 South Florida Winter Buying Season that extends from November through April.
It is unclear if the sudden surge in the South Florida County Condo Association Financial 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 showed significant week-over-week improvements as of Feb. 11, 2025, reversing the mixed results from the previous weeks.
It is worth noting that the surprising improvements occurred for both product categories: Overall condos regardless of age and Vintage condos that are at least 30 years old.