condominium

It has been very profitable to own a South Florida home over the past 15-plus years. Long-term homeowners here are sitting on a mountain of profits, but if they sell, they also likely face a hefty tax bill. And that could be making the housing market more unaffordable for younger buyers.

Florida condominium owners saw their average home insurance rates jump by more than 50% in four years to almost $2,000. That far outpaced overall consumer inflation in South Florida — at a time the region had the highest inflation rate in the country.

Median condo prices in Broward and Palm Beach counties fell to their lowest level in several years in August. Single family home median prices were stable as fewer homes were on the market.

It is a buyer's market for homes and condos in South Florida, according to the regional realtors association. Plus: find your neighborhood's housing market by zip code.

A four-tower, 508-condominium development proposed in Riviera Beach is dramatic evidence the coastal real estate boom that city leaders long for may finally have arrived on Broadway.

South Florida's condo market continues reeling from reforms. Home prices continue going up, but that's slowing, too.

Florida condominium residents grappling with the steep cost of building improvements will get some financial relief under a new bill signed into law by Republican Gov. Ron DeSantis. The legislation signed Monday goes into effect July 1.

It might be a buyers market for condos, but buyers are not too interested thanks to reforms and financing difficulties. Meanwhile, demand for homes underpins that market, creating a further gulf between the markets for condos and single family home in the region.

South Florida home prices are among the most expensive in the nation. The region is also home to some of the highest interest rates for buyers borrowing money to buy a home or condo.

Saying they are responding to residents’ concerns about rising costs, the Florida Legislature last week signed off on proposed changes to condominium-safety laws passed after the 2021 collapse of the Champlain Towers South building in Surfside that killed 98 people.

The new year was off to a messy start for South Florida condo sales. Palm Beach County was a small bright spot. Home prices kept climbing to new records, though.

The regional condo market is trying to find some equilibrium as it deals with financial reforms. The number of South Florida condos sold in December continued falling, but at a slower pace than past months. Median prices for single family homes hit new records in Miami-Dade County.