Changes in South Florida Condo Inventory Levels Due to Tariffs

Over the past three months, South Florida has seen a significant shift in condo inventory levels, largely influenced by the economic uncertainty surrounding tariffs. According to recent data, the number of condos and townhomes available for sale has surged, marking the highest inventory levels in six years.

Increase in Listings

• Miami-Dade County: Active condo and townhome listings have risen by 43.5% compared to the same time last year, with over 13,000 units currently on the market.
• Broward County: Inventory has increased by 43.4%, reflecting a broader trend of rising supply.
• Palm Beach County: While inventory has also grown, the pace of condo sales has remained relatively stable compared to Miami-Dade and Broward.

Decline in Sales and Prices

• The number of closed condo sales has dropped across the region. In Miami-Dade, sales fell from 1,100 units in March 2024 to 1,041 units in March 2025.
• Broward County saw a similar decline, with 1,197 closed sales in March 2024, dropping to 1,070 in March 2025.
• Median condo prices have also softened, with Miami-Dade seeing a 2% decrease, while Broward experienced a 3% decline.

Factors Driving Inventory Growth

• Tariff-Induced Construction Costs: Developers are facing higher costs due to tariffs on steel, aluminum, and lumber, leading to delays in new projects and an increase in resale listings.
• Regulatory Changes: New condominium inspection laws and reserve requirements have added financial burdens on owners, prompting more units to hit the market.
• Buyer Hesitancy: Economic uncertainty and rising HOA fees have made buyers more cautious, slowing down sales activity.

Market Outlook

The current inventory surge suggests that South Florida’s condo market is shifting toward a buyer’s market, where buyers may have more leverage in negotiations. However, sellers will need to adjust pricing strategies and offer incentives to remain competitive.