The Condo Comeback: A win for Today's Buyers

Not every buyer in today’s real estate market is looking for the biggest home. Many are seeking something simpler, more affordable, and easier to maintain — especially as affordability continues to improve. That’s why condos are becoming one of the most buyer-friendly options across Miami and the Florida Keys right now.

For first-time buyers, condos offer a more accessible path to homeownership. For downsizers, they provide less maintenance, lower costs, and the freedom to stay in desirable areas like Key Largo, Islamorada, or downtown Miami without compromising lifestyle or location.

According to the National Association of Realtors (NAR), there are nearly 194,000 condos for sale nationally, marking one of the highest inventory levels in three years. This means buyers now have more selection and less competition — a refreshing change from the frenzied market of recent years.

In addition, prices are softening. Data from Intercontinental Exchange (ICE) shows condo prices dipped by 1.3% year-over-year, with over half of major U.S. metros reporting slight declines. That gives buyers not just affordability, but leverage. Sellers are more open to price negotiations, concessions, or help with closing costs — all of which make condos even more attractive.

With more inventory, balanced pricing, and new opportunities to negotiate, condos in Miami and the Keys are becoming one of the smartest moves for buyers in 2025. Realtors with The Selling Properties Group powered by LPT Realty can help you navigate this evolving market with expertise and local insight.