South Florida Condo Prices Split in April: Miami Edges Up While Broward Falls Nearly 8 Percent

New April 2026 sales figures show South Florida’s condominium market moving in two directions at once. In Miami-Dade, the median condo price rose slightly and sales picked up ¹. In Broward, condo sales also rose, but the median sale price dropped by nearly 8 percent from a year earlier ³. For unit owners who are behind on association dues or facing a large special assessment, those numbers affect how much room they have to work with.

Miami-Dade: Modest Gains, Shrinking Inventory

Miami-Dade condominium sales rose 2.8 percent year over year in April, from 1,005 to 1,033 transactions ¹. The median condo price rose 1.1 percent, from $445,000 to $450,000 ¹. Sales of condos priced between $300,000 and $500,000 climbed 17.9 percent ¹².

Supply is tightening. Condo inventory in Miami-Dade dropped 10.1 percent, from 13,238 listings to 11,899 ¹. Cash remains a major factor: 50.9 percent of Miami condos were bought with cash in April ¹. According to the MIAMI REALTORS release, Miami condo sales have risen year over year in six of the last eight months ².

Mortgage costs remain a concern. The 30-year fixed-rate mortgage averaged 6.33 percent in April, and the association’s chief economist said rates are likely to approach 7 percent by mid-year if the U.S.-Iran conflict lingers ¹.

Broward: More Sales, Lower Prices

Broward’s condo market looked different. Existing condo sales rose 1.84 percent, from 1,085 to 1,105, but the median sale price fell 7.86 percent, from $280,000 to $258,000 ³. The release noted that condo inventory is declining year over year, which the association expects to put upward pressure on prices ³.

Financing Limits Remain a Drag

Both releases point to a structural problem for older buildings: financing. The association cited U.S. Department of Housing and Urban Development statistics showing that just 21 condo buildings across Miami-Dade, Broward and Palm Beach counties, out of 2,397 in total, hold approval for Federal Housing Administration financing ²³. That works out to only 0.9 percent of South Florida condo buildings ²³. Starting August 3, 2026, the association added, many condo loans will lose access to the limited review option, which Fannie Mae and Freddie Mac are phasing out ².

When fewer buyers can finance a purchase in a given building, an owner who needs to sell may have a smaller pool of buyers to draw from. Cash buyers can fill part of that gap, but they may also negotiate harder.

What This Means for Owners Behind on Dues or Assessments

For a unit owner who has fallen behind, market value is not an abstract number. It helps determine whether selling is a realistic way out, whether there is equity left after the mortgage and the association’s claim are paid, and how much is at stake if the association moves to collect.

A Broward owner whose unit is worth less than it was a year ago may have less cushion than expected, especially if a special assessment for repairs or reserves is on the way. A Miami-Dade owner in a building with strong demand may have more options, but rising mortgage rates and financing restrictions can still slow a sale. In either case, the timing of a decision matters, because the options narrow once an association begins collection in earnest.

Owners in this position have several paths to consider, including a payment arrangement with the association, a sale, or a bankruptcy filing under Chapter 7 or Chapter 13. Each has different consequences for the unit, the mortgage and the association’s claim, and the right choice depends on the owner’s income, equity and goals. Comparing those options early, before a lien foreclosure is underway, usually leaves more of them available.

South Florida unit owners who are behind on dues or facing an assessment they cannot pay can request a confidential consultation with The Roca Law Firm, in English or Spanish.