Reventure Data on Instagram: "The Florida condo market is in free fall. Prices are crashing and inventory is surging. Track condo prices in your zip code on www.reventure.app We’re seeing huge price cuts — as much as 20% over the last two years. In St. Pete Beach, prices are down almost 10% year over year. The main reason? Skyrocketing HOA costs. Near the beach, HOA fees are $1,000–$2,000 per month. It’s too expensive for most second-home or vacation buyers. Now, Florida’s condo market has almos
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We are now seeing the biggest condo downturn in America since 2008. During the pandemic, people bought condos they couldn’t really afford, and now many are being forced to sell. As a result, condo values across the U.S. just posted their sharpest one-year decline in 15 years. In several states, condo owners are liquidating faster than at any point in the last decade and a half. So when will it actually be a good time to buy a condo, especially in a state like Florida? Cities such as Cape Coral,
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Reventure Data on Instagram: "Home prices in Florida are collapsing. Some homes have dropped $40,000 to $60,000 in value. One owner bought for $317,000, now they’re selling for $265,000 — a $52,000 loss. Builders are leading the price cuts. They’re now selling new homes for $250,000, $70,000 cheaper than two years ago. Many buyers from 2022–2023 are deep in the red. Some are defaulting on their mortgages. In Parrish, Florida, inventory is at a 10-year high and still rising. Builders keep adding
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