Florida Condo Sales Rose in the Third Quarter, but Prices Are Flat and Supply Is High: What It Means for Owners Under Fee Pressure

Florida’s condominium market held up better than single-family housing over the summer, according to new statewide data, but the numbers also show why many owners trying to sell their way out of rising association costs are finding it slow going. Florida Realtors reported on October 20, 2026, that closed sales of existing condos and townhouses rose 3.1 percent year over year in the third quarter, to 22,664 ¹. Single-family sales edged up just 0.2 percent over the same period ¹.

The statewide picture

The headline gain comes with flat prices. The third-quarter median sale price for condos and townhouses was $295,000, unchanged from a year earlier, and September’s median was $293,500, down 1.8 percent ¹. September closed sales totaled 7,179, eight fewer than a year earlier, and new pending sales fell 3.5 percent ¹.

The more telling figure for owners is supply. In September, condo and townhouse inventory stood at 7.7 months, well above the 4.4 months recorded for single-family homes ¹. Florida Realtors noted that this gives buyers room to negotiate while sellers face more competition, and it cautioned that association fees, reserves and potential assessments can add to ownership costs beyond the sale price ¹. The organization described the quarter as an encouraging sign for a market that has spent several years adjusting to new reserve requirements and other regulations ¹.

Broward’s September numbers

Local data show sharper movement. In Broward County, condo transactions fell 12.54 percent year over year in September 2026, from 865 to 824, and the median condo price fell 14.55 percent, from $275,000 to $235,000 ². MIAMI REALTORS attributed the broader sales decline to mortgage rates rising nearly 0.6 percentage points since early September to 7.46 percent, limited inventory in some price ranges, and uncertainty around the October 6 state of emergency ahead of Hurricane Isaias, even though South Florida was not among the affected counties ².

Financing remains a hurdle for many buildings. Of 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, and Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026 ². Not every Broward segment is weak: sales of condos priced from $500,000 to $600,000 rose from 40 to 43 ².

Why this matters for owners behind on assessments

For an owner facing a large special assessment or rising monthly fees, a long supply and flat or falling prices can mean a sale takes longer and nets less than expected. Meanwhile, the association’s collection rights keep running. Under section 718.116, an owner is liable for all assessments that come due while he or she owns the unit, and the association may foreclose its lien and also sue for a money judgment, with reasonable attorney’s fees recoverable ³. The statute also bars a court from entering a foreclosure judgment until 45 days or more have passed since the association sent the owner written notice that it plans to foreclose ³.

A few practical steps can help owners keep options open:

• Price against current data. A 7.7-month supply statewide, and a double-digit drop in Broward’s September median, mean last year’s comparable sales may overstate what a unit will bring ¹².
• Ask for the numbers early. Delinquent balances, interest and attorney’s fees grow over time, and a buyer will need them resolved at closing ³.
• Watch the statutory notices. The intent-to-foreclose notice starts a defined period, and decisions made before it expires usually have more room ³.

Owners who cannot keep up with assessments, a mortgage and other debts at the same time have choices that are worth understanding before a lien foreclosure moves forward. Anyone in South Florida weighing those options can request a confidential consultation with The Roca Law Firm.