{"id":92378,"date":"2025-12-22T12:37:14","date_gmt":"2025-12-22T12:37:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/92378\/"},"modified":"2025-12-22T12:37:14","modified_gmt":"2025-12-22T12:37:14","slug":"resale-inventory-and-demand-lifts-older-condos","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/92378\/","title":{"rendered":"Resale inventory\u2013and demand\u2013lifts older condos"},"content":{"rendered":"<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.miamitodaynews.com\/subscribe\/\" title=\"www.miamitodaynews.com\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/Subscription_skyscrapper_Green.jpg\" width=\"120\" height=\"600\" border=\"0\" alt=\"www.miamitodaynews.com\"\/><\/a><\/p>\n<p>Advertisement\t\t\t\t\t\t<\/p>\n<p>Written by <a href=\"https:\/\/www.miamitodaynews.com\/author\/kelly-sanchez\/\" title=\"Posts by Kelly Sanchez\" rel=\"author nofollow noopener\" target=\"_blank\">Kelly Sanchez<\/a> on December 22, 2025<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/11\/Breaking-News_5.jpg\" alt=\"Resale inventory\u2013and demand\u2013lifts older condos\" class=\"postimage\" width=\"483\" height=\"300\"\/><\/p>\n<p>The resale condominium market in Miami-Dade County has seen some stabilizing since the beginning of the year, with year-over-year increases in September and October, according to Ines Hegedus-Garcia, managing partner at Avanti Way East Miami and 2023 MIAMI Realtors chairman of the board.<\/p>\n<p>Ms. Hegedus-Garcia said the market is divided by condos that are 30 years old or more and condos that are less than 30. She defined it as the \u201ctale of two markets\u201d following the changes brought by the 2021 Surfside condo collapse. Older condos make up the majority of the inventory, which has increased but is still under pre-pandemic levels.<\/p>\n<p>\u201cWhat makes this really different from what we\u2019ve seen in previous years is that most of the inventory is for the older, 30-years-plus condos,\u201d she said. \u201cWe\u2019re seeing 65% of the inventory is on the 30-year-and-over, and then those that are under 30 years have the 35% inventory.\u201d<\/p>\n<p>Demand is high for condos 30 and older, which have a median sales price of $280,000, while buyers hold back for those under 30 selling for a higher median price starting at $445,000 and up to $450,000, she said.<\/p>\n<p>Days on market measures how long a property has been listed for sale. The average number for older condos is 62 days and for newer ones 79, according to Ms. Hegedus-Garcia.<\/p>\n<p>\u201cAffordable condos happen to be the older ones, so there\u2019s a lot of demand when it comes to the older condos, and then the newer ones fall into different categories and their price ranges,\u201d she said. \u201cThe median price market, we\u2019re seeing buyers just hold back\u2026 My interpretation of why they\u2019re waiting, especially on all the condo reform, everything that was happening with interest rates and I think the consumer is getting smarter about knowing what are the right questions to ask when getting into these condos.\u201d<\/p>\n<p>Ms. Hegedus-Garcia noted the impact of the cash buyer advantage in condo sales. Cash buyers purchase properties by paying the full sale price upfront without taking out a mortgage.<\/p>\n<p>\u201cAbout 50% of all condo sales are cash,\u201d she said, \u201c53% are between the $1 [million] and $5 million range. The crazy stat is 75% to 80% if you\u2019re above $5 million, so cash buyers definitely insulate that market from the rate volatility that was holding some buyers back for lending purposes.\u201d<\/p>\n<p>MIAMI Realtors is the largest local realtor association in the nation, representing nearly 60,000 total real estate professionals in real estate sales, marketing and brokerage.<\/p>\n","protected":false},"excerpt":{"rendered":"Advertisement Written by Kelly Sanchez on December 22, 2025 The resale condominium market in Miami-Dade County has seen&hellip;\n","protected":false},"author":2,"featured_media":34071,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226],"class_list":{"0":"post-92378","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hialeah","8":"tag-hialeah","9":"tag-hialeah-headlines","10":"tag-hialeah-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/92378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=92378"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/92378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/34071"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=92378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=92378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=92378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}