Miami Today: Resale inventory–and demand–lifts older condos
Thank you to Kelly Sanchez and Miami Today for the interview and for highlighting what is really happening in Miami-Dade’s condo market.
Older buildings are not the problem. They are where the action is. Demand is strong, prices are accessible, and smart buyers are leading the charge.
One thing we did not get to cover in depth is Miami-Dade’s leadership in condo transparency. The new public registry of association documents is giving buyers real power and it is changing how people invest.
Full article below. Worth the read. CLICK HERE
Resale inventory–and demand–lifts older condos
Written by Kelly Sanchez on December 22, 2025
The resale condominium market in Miami-Dade County has seen some stabilizing since the beginning of the year, with year-over-year increases in September and October, according to Ines Hegedus-Garcia, managing partner at Avanti Way East Miami and 2023 MIAMI Realtors chairman of the board.
Ms. Hegedus-Garcia said the market is divided by condos that are 30 years old or more and condos that are less than 30. She defined it as the “tale of two markets” following the changes brought by the 2021 Surfside condo collapse. Older condos make up the majority of the inventory, which has increased but is still under pre-pandemic levels.
“What makes this really different from what we’ve seen in previous years is that most of the inventory is for the older, 30-years-plus condos,” she said. “We’re seeing 65% of the inventory is on the 30-year-and-over, and then those that are under 30 years have the 35% inventory.”
Demand is high for condos 30 and older, which have a median sales price of $280,000, while buyers hold back for those under 30 selling for a higher median price starting at $445,000 and up to $450,000, she said.
Days on market measures how long a property has been listed for sale. The average number for older condos is 62 days and for newer ones 79, according to Ms. Hegedus-Garcia.
“Affordable condos happen to be the older ones, so there’s a lot of demand when it comes to the older condos, and then the newer ones fall into different categories and their price ranges,” she said. “The median price market, we’re seeing buyers just hold back… My interpretation of why they’re waiting, especially on all the condo reform, everything that was happening with interest rates and I think the consumer is getting smarter about knowing what are the right questions to ask when getting into these condos.”
Ms. Hegedus-Garcia noted the impact of the cash buyer advantage in condo sales. Cash buyers purchase properties by paying the full sale price upfront without taking out a mortgage.
“About 50% of all condo sales are cash,” she said, “53% are between the $1 [million] and $5 million range. The crazy stat is 75% to 80% if you’re above $5 million, so cash buyers definitely insulate that market from the rate volatility that was holding some buyers back for lending purposes.”
MIAMI Realtors is the largest local realtor association in the nation, representing nearly 60,000 total real estate professionals in real estate sales, marketing and brokerage.
REAL ORIGINAL ARTICLE HERE: