{"id":2229,"date":"2026-06-25T09:31:18","date_gmt":"2026-06-25T09:31:18","guid":{"rendered":"https:\/\/floridamovingchronicle.com\/?p=2229"},"modified":"2026-06-25T09:31:18","modified_gmt":"2026-06-25T09:31:18","slug":"are-condo-values-down-in-your-miami-dade-area-check-the-latest-in-29-cities","status":"publish","type":"post","link":"https:\/\/floridamovingchronicle.com\/?p=2229","title":{"rendered":"Are condo values down in your Miami-Dade area? Check the latest in 29 cities"},"content":{"rendered":"
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Recent data from the Miami-Dade County Property Appraiser shows condo values are down across the county this year.<\/p>\n

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The report shows condo values dipped by 1.2% in Miami-Dade in 2026 compared to the previous year. Last year, condo values were down by .6%.<\/p>\n

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These declining condo values fit into a larger trend in Miami-Dade. Data released by the property appraiser\u2019s office earlier this month showed slowing growth in taxable property values. Property values rose a modest 5.5% this year, compared to 8.5% last year, indicating a sagging real estate market.<\/p>\n

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Condo values, particularly in older buildings, have been slipping since the Champlain Towers collapse in Surfside five years ago. State laws passed in the aftermath of the disaster now require more regular inspections for condo buildings, and condo associations must put aside more money for repairs under the new laws.<\/p>\n

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These changes have added up to costs some owners can\u2019t afford. And that has led some to sell at a discount, further weakening the condo market.<\/p>\n

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Miami-Dade Property Appraiser Tom\u00e1s Regalado told the Miami Herald: \u201cOlder condos are dropping in value,\u201d while the luxury condo market has remained \u201cflat.\u201d<\/p>\n

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Peter Zalewski, a Miami-based broker and the owner of the consulting firm Condo Vultures, said he expects condo values to continue to fall in the coming years as the market adjusts to the new laws. He expects to see a significant number of unit foreclosures and condo associations declaring bankruptcy.<\/p>\n

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\u201cIt\u2019s all headwinds right now for the condo market,\u201d Zalewski said.<\/p>\n

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But not every municipality saw declining condo values this year.<\/p>\n

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Cities where condos skew to the higher end, like Bal Harbour or Surfside, may be more insulated from these changes. The average value of a unit was over $2 million in both towns, according to the county\u2019s data. But the gains in these towns were still relatively modest, with condo values rising by 1.2% in Bal Harbour and .7% in Surfside.<\/p>\n

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This wasn\u2019t true across all pricier municipalities, though. In Sunny Isles Beach, where the average unit value was around $1 million, values dropped this year by 3.5%. And in Key Biscayne, the average unit was worth around $1.4 million this year, with values dropping by .1%.<\/p>\n

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In other areas:<\/p>\n

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