This fall, we’re proud to share that Lenys Camacho has been named a Governor on the 2026 MIAMI Commercial Board (Miami Association of REALTORS® Commercial Division).

South Florida condo snapshot: more choice, more due diligence

The condo market is no longer running as hot as 2021–2022:

• In Broward and Palm Beach, prices for many condos under $500,000 have slipped 6–7% compared with a year earlier, with median prices under $250,000 in Broward and under $300,000 in Palm Beach.
• Miami-Dade condo prices are holding steadier, but inventory has climbed, giving buyers more options and leverage.

For owners, this means:

• Condition and reserves matter more than ever. Buyers and lenders are looking closely at building maintenance, engineering reports, and reserve balances.

• Older buildings face tougher questions around upcoming repairs, special assessments, and insurance costs.

Compliance watch: Florida condo safety rules

Florida continues to roll out post-Surfside building-safety laws for condos three stories and higher. Key themes:

• Milestone structural inspections generally around the 30-year mark and every 10 years after (local rules may vary).
• Structural Integrity Reserve Studies (SIRS) with deadlines running through 2025–2026 depending on building age.
• Stronger reserve funding requirements to avoid chronic under-saving for big repairs. If your association hasn’t already, this fall is the time to confirm timelines with your board, manager, engineer, and legal counsel.

Commercial condos: steady demand, but quality wins

Despite higher interest rates, Miami’s commercial market is still one of the most active in the country:

• Office sales volume in Miami-Dade grew in 2024, and the region’s commercial market is on its best pace in several years. 
• Industrial space remains tight, with low vacancy and rents that are still higher than pre-pandemic levels, driven by e-commerce, trade, and logistics.

For commercial-condo owners, we’re seeing:

• Users still buying to control long-term occupancy costs in prime locations.
• Investors becoming pickier, favoring well-located, well-managed buildings with clear reserves and clean inspections.

What owners can do this fall

1. Check your building’s safety and reserve timeline.

• Ask your board/manager when your next milestone inspection and SIRS are due and how they’re being funded.

1. Update your “story” to the market.

• For both residential and commercial condos, highlight recent capital improvements, inspection reports, and reserve strength in any sale or lease marketing.

1. Review your insurance and risk profile.

• Confirm coverage limits, deductibles, and wind/flood exposure; explore options early before renewal.

1. Plan for a more balanced market.

• Sellers: focus on realistic pricing and repairs that remove buyer objections.
• Buyers: use increased inventory to compare building financials, not just finishes.