Overview

• Active listings in May rose by 34.5% in Broward, 25% in Palm Beach and 44% in Miami-Dade compared with last year, also reaching one of the highest months’ supplies nationally.
• May sales volume dropped to $5.6 billion from $6.1 billion a year earlier as overall transactions slowed and condo sales plunged by about a quarter in core markets.
• New legislation signed by Governor Ron DeSantis grants condo associations extended timelines to meet reserve funding requirements aimed at reducing owners’ fees.
• Entry-level supply remains tight for homes under $400,000 even as median prices climbed to $675,000 in Miami-Dade, marking 162 straight months of appreciation.
• Luxury segments remain robust, with median prices in West Palm Beach luxury homes soaring over 200% in the past decade.