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What’s happening with condo sales in Miami and Broward? Look at the prices and supply

What’s happening with condo sales in Miami and Broward? Look at the prices and supply

The South Florida condo market is experiencing a downturn, with prices falling, sales slowing, and inventory increasing. Condo associations are raising fees and implementing special assessments due to a new Florida law requiring spending plans for major repairs. In August, Miami-Dade County saw a slight price drop to $415,000, while Broward County remained stable at $275,000. Sales in Miami-Dade decreased by 8%, and Broward by 6%, with inventory levels indicating a buyer's market.

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