Anyone reading market headlines about South Florida this year has seen both a shortage and a glut described in the same week. Both are accurate. They are describing different property types.
Broward County’s single-family and condominium markets have separated to a degree that makes county-level averages close to useless for anyone making a decision about a specific property.
The numbers
Single-family inventory in Broward has been running between roughly 4.3 and 4.6 months of supply through mid-2026. A six-month supply is generally considered balanced, so single-family sits on the seller-favorable side, with well-priced homes in high-demand areas still drawing competing offers.
Condominium supply in Broward has been running around 11 months and higher. Miami-Dade condo supply has been near 13 months. Those are buyer’s market conditions by any standard measure.
Prices follow the same split. As of the end of July 2026, Florida Realtors reported a statewide median single-family price of $425,000, up 3.7 percent year over year. Broward’s median single-family price has held in the $600,000 range through the spring. Condominium prices have gone the other direction, with Miami-Dade condo medians falling below $400,000 for the first time in three years and Broward condo values under similar pressure.
The luxury tier is running on its own track again. Broward sales above $1.5 million were up roughly 27 percent year to date, which pulls average sale price figures upward even in months when median prices are flat or down. If you see a headline citing a large price increase in Broward, check whether it is reporting an average or a median.
What is driving the condo divergence
The condominium market is absorbing the cost of Florida’s post-Surfside safety framework.
HB 913 took effect July 1, 2025 as Chapter 2025-175, the most substantial revision to condominium safety law since the 2022 reforms. Under the current framework, existing unit-owner-controlled associations with buildings of three or more habitable stories were generally required to complete a Structural Integrity Reserve Study by December 31, 2025. A narrow allowance lets an association complete the SIRS alongside a milestone inspection due on or before December 31, 2026, but not later than that under the simultaneous-completion provision.
The law also made several adjustments boards are still working through. The threshold for items requiring a segregated reserve account moved from $10,000 to $25,000, with annual inflation adjustment by the Division beginning in 2026. Associations that completed a milestone inspection identifying necessary repairs may pause reserve funding for up to two consecutive budget years to redirect those funds toward the repairs, subject to a unit owner vote. Boards may fund reserves through special assessments, loans, or lines of credit with owner approval. Structural reports, including milestone inspections and SIRS, must be retained for 15 years.
Two bills that would have altered these requirements, SB 722 and SB 1498, both died on March 13, 2026. The framework is not changing this year.
The practical result is that aging buildings are passing large special assessments to fund repairs and reserves at the same time insurance costs remain elevated. Buyers price that in, and units in buildings with weak financials sit.
What this changes for buyers
For a condominium purchase, confirming that a milestone inspection happened is no longer sufficient diligence. What matters is what the inspection found, what the SIRS says the building needs, whether the association adopted a funding plan, whether it paused reserve contributions, and whether an assessment has been discussed but not yet voted on.
Since January 1, 2026, associations with 25 or more units are required to make governing documents, budgets, and reserve studies available through a dedicated website or application. That access changes what a buyer can verify before going under contract rather than after.
The questions worth answering before closing:
- What did the most recent milestone inspection identify, and what has been completed since
- Does the SIRS show a fully funded plan, or a plan with a gap
- Has the association paused reserve funding, and under what vote
- Are there loans or lines of credit against the association
- What has the insurance appraisal produced, and how has the premium moved
- Are any assessments pending board or owner approval
What this changes for sellers
Single-family sellers in high-demand areas still have leverage, but the days-on-market figures have lengthened compared to the 2022 peak. Pricing to the current comparable set matters more than it did.
Condominium sellers face a buyer pool that is now reading association financials closely. Assembling the milestone inspection, the SIRS, the current budget, and any assessment history before listing shortens the diligence period and removes the surprises that kill contracts late.
The through line
County-level averages are blending two markets that are behaving differently, and in the condominium segment the deciding factor is often the building’s compliance position rather than the unit itself. Anyone buying, selling, or lending in South Florida right now is making a building-specific decision, not a market-wide one.
This article is general information about Florida law and is not legal advice. Reading it does not create an attorney-client relationship.
