Condo prices drop 2% as high expenses keep buyers away
By: Jarrod Barry | Published: 2025-07-01 21:16:00 | Source: www.nationalmortgagenews.com
It’s a tough time to be a condo owner, particularly in Florida, and most especially if you’re trying to sell.
That’s the upshot of a new report from Redfin. Condo prices dropped 2.2% year-over-year in May. That’s the second-sharpest decline since the brokerage began tracking condo data in 2012. While the broader housing market has cooled, condos are faring worse: national condo sales are down nearly 12% from a year ago, compared to a 3.7% drop for single-family homes.
“It’s a slow housing market across the board, but condos have been hit particularly hard,” said Aditi Jain, a Redfin Premier real estate agent in the Boston area.
The condo slump is most acute in Florida, where sales are down more than 30% in some areas, according to Redfin. This has caused sales prices to fall across the…
