Rising homeowners association fees and surging insurance premiums have made condo ownership unattractive in many parts of Florida with prices and sales reflecting this new reality, according to Redfin. New condo listings are soaring as sellers try to offload their properties in contrast to the US as a whole, where condo prices are rising, sales are holding steady and new listings are increasing at a much slower rate.

In the Jacksonville metro, for instance, the median condo price declined roughly 7% year over year in January, sales declined 27%, and new listings increased 32%. The story is similar in Miami, where condo prices fell 3%, sales dropped 9% and new listings rose 27%.


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