condominium

Average monthly fees for high-rise condo buildings in South Florida are the highest in the country outside of New York City, according to data from North America's largest property management firm. Higher insurance and labor costs are significant drivers, as is setting aside more money in reserves.

Cheaper borrowed money to buy a South Florida home and condo helped bring buyers into the market in October. The median Miami-Dade condo sold for the lowest price in more than two years.

Completion of a sewage lift station arose last month as the main obstacle behind the delayed opening of Nautilus 220, a $300 million waterfront condo building in Lake Park. Town commissioners are worried it could keep the building off the tax rolls for another year.

Home and condo sales show very early signs of recovery in September helped by a drop in mortgage rates and lower or, at least stable, prices. It’s too early to “definitively declare a shift in the overall trend,” but confidence by the state’s realtor group is rebounding.

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.