Florida’s condo market is changing with clear legislation and court decisions

For decades, buying a Florida condo was a leap of faith hidden by palm trees and ocean views. But in the new year, the veil of secrecy has been lifted.

Between a new mandatory digital transparency law and a landmark court decision that gave a so-called “poison pill” to developers, the dynamics of the Sunshine State have changed dramatically.

“I think it’s definitely improving,” Douglas Elliman Palm Beach agent Jessica Julian told Fox News Digital about the state of the condominium market. “I would say that last year we saw a lot of these old buildings that were hurting, not many buyers of them. Everyone was afraid to dip their toes in an old building after what happened in Miami in Surfside. And so as the assessment is paid and repaired, we definitely see that repair.”

“I think momentum is probably the best word we have. Things are stable. We’re going to move forward… And again, the demand here in South Florida is strong,” MIAMI REALTORS Chief Residential and Advocacy Officer Danielle Blake also told Fox News Digital.

FLORIDA’S LIVE WATERFRONT CONDOMINIUMS ARE BECOMING GOAL MARKS AS OWNERS BUY FOR DEVELOPERS

The first major change for 2026 includes provisions that went into effect under House Bill 913, which requires condos with 25 or more units to have a dedicated, secure digital portal where prospective buyers can view the condo’s bank statements, maintenance information and building structure reports.

“The click of a button, you can go in there, you can look at all these documents – including the budget – before you do that,” Blake said. “We are big supporters of it. It brings transparency and accountability, and we continue to promote that.”

“It makes the condo market more predictable. So condos that have delayed reservations or delayed issues with their building are seeing a lot of ongoing negotiations,” Julian notes, “whereas buildings that have thought ahead and are fully stocked, have a competitive edge in the market.”

In Miami-Dade, 65% of active inventory consists of older condo properties, and sales in the $200,000 to $400,000 range increased 21% year over year despite rising insurance and inspection costs, according to REALTORS data. Experts estimate that buyers are brave or yearning for a piece of paradise.

“I like to say that it’s all because of our advocacy work. I mean, transparency is very important, but I think more should be done about market conditions. And in South Florida, it’s a very hot market. Everyone wants to move here. The climate is very good. People want to take advantage of that. And so this is the last inexpensive inventory that we have,” and they explain.

“I get a lot of buyers who are eager to come down here in South Florida, but they know very well. They usually come to me already doing their due diligence,” added Julian. “It’s possible that they already have buildings that they’ve identified. They’ve researched others, and found out which ones seem to be weak in those research studies.”

The second major change in the Florida condo market is the recent Biscayne 21 court decision, which set a legal precedent that gives minority shareholders, as few as 5% to 10% of owners, the power to block major redevelopment if the original announcement requires unanimous approval.

OLD SOUTH FLORIDA CONDOMINIUMS NOW SELLING FAST WITH NEW CONSTRUCTION ASSOCIATIONS BETWEEN OFFERS

Julian called the decision a “poison pill” for developers who have been eyeing Miami’s older, waterfront buildings as prime targets for mega-luxury conversions.

“It’s a poison pill, that is [a] 100% shopping, makes things very difficult. So they’ve been pursuing those a lot,” he said. “It’s not very common to try to do that, to change the condo bylaws, and try to bring the building down that way. So I think it will change going forward as developers will look at properties more carefully and patiently. “

Julian dealt firsthand with the late 2025 buying wars at Harbor Towers & Marina in West Palm Beach when two developers sued multiple owners who were caught in the crossfire in a battle for control of the building.

“What I don’t realize, what I see in the background, is that these developers are collecting other affordable buildings for themselves, that make sense with a pencil. And eventually, we will be overcrowded.”

– Jessica Julian

“There’s a number of buildings out there that still have language in their bylaws that say 75 to 80% can finish the building… So it’s likely that developers will do their best and start looking at those buildings first,” Julian said.

“I think this case really highlights the importance of reading government documents,” Blake said. “It’s really important for developers to test that and know what you’re getting into before you put it in your system.”

Reflecting on his advocacy role, Blake also offered advice on what fixes vendors can push to ensure that one or two residents can’t prevent the entire community from escaping the financial burden of an old building: “Talk to the local government, talk to the government. Everyone needs to be informed to come up with the right solution. And we can support that.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

And while both experts agree that two of the biggest changes in Florida’s condo market are emphasizing transparency and communication, Julian shared one warning about the future of the marketplace.

“Greed happens slowly. So [buyers] hold them until they get millions more dollars [from developer offers]. But what they don’t realize, what I see in the background, is that these developers are collecting other affordable properties for them, which are very reasonable with a pencil. And eventually we will be overcrowded,” he said.

“So if they’re waiting, thinking they’re going to get a higher payout, they might want to rethink that.”

READ MORE AT FOX BUSINESS