The median price of condos in Broward County fell by 14.55% in September 2026 compared to the same month of the previous year, dropping from 275,000 to 235,000 dollars, according to the monthly report from MIAMI REALTORS + RWorld published on Friday.
The decline makes Broward one of the most favorable condominium markets for buyers in South Florida: the available inventory amounts to 10.2 months of supply, well above the six-month threshold that defines a buyer's market and gives buyers greater negotiating power.
The contrast with single-family homes in the same county is striking: those properties increased by 2.39% year-on-year to a median of $641,500, with only 4.2 months of inventory, keeping them in a seller's market.
Total sales in Broward also declined: 1,825 transactions were closed in September, a 9.7% decrease from the 2,021 in the same month of 2025. Condo transactions fell from 865 to 824 units, while single-family home transactions dropped by 7.1%, from 1,048 to 974.
The report attributes the decline in activity to several simultaneous factors: 30-year mortgage rates climbed to 7.46% in mid-October, about 0.6 percentage points higher than at the beginning of September, and the declaration of a state of emergency due to Hurricane Isaias on October 6—although southern Florida was not among the affected counties—created uncertainty that delayed loan approvals and closings.
«Broward occupies a privileged position, right in the center of the dynamic real estate market of the five counties in South Florida,» noted Sophia Allen, president of MIAMI REALTORS + RWorld BROWARD-MIAMI. «One can live in Broward and work in Miami, or vice versa. That flexibility, along with a wide variety of housing options, makes Broward an excellent place to settle down.»
Behind the decline in condominium prices are structural factors that go beyond the current situation. Homeowners' association fees (HOA) in Broward range from $350 to over $1,200 per month.
This is in addition to the extraordinary assessments that many buildings have imposed to comply with the mandatory structural inspections established by the law passed following the collapse of Champlain Towers South in Surfside in 2021, which resulted in 98 fatalities.
These outlays can range from $5,000 to $200,000 per unit depending on the condition of the building.
Financing has also become more complicated. Since August 3, 2026, Fannie Mae and Freddie Mac have eliminated the streamlined review for most condominiums, now requiring a full review that examines budget, reserves, insurance, and structural documentation.
Additionally, only 21 of the 2,397 condominium buildings in Miami-Dade, Broward, and Palm Beach have approval for loans from the Federal Housing Administration (FHA), which is only 0.9% of the total.
For many Cubans living in Hialeah or northern Miami-Dade who are seeking more affordable housing, cities in Broward such as Pembroke Pines, Miramar, and Hollywood present a viable alternative.
A condominium with the current median of $235,000 in Broward requires a much lower initial outlay compared to buying in Miami-Dade, where prices remain high: the median for condominiums there is $417,090.
However, the purchase price is only part of the actual cost. Before signing, it is advisable to review the financial status of the association, the reserve studies, any pending structural inspections, and whether the building meets the requirements of Fannie Mae and Freddie Mac for conventional financing.
The HOA fees and potential special assessments can significantly alter the economic equation of a purchase that, on paper, appears advantageous.
It is also relevant for newly arrived Cuban buyers that Florida law SB 264 (2023) restricts property acquisitions by individuals domiciled in Cuba who are not citizens or permanent residents of the United States.
Despite the recent decline, condominium prices in Broward have appreciated by 217% since 2010, when the median was $74,000, reflecting a long-term trend that the market maintains even during correction periods.
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