"Florida Condo Prices Plummet Amid Soaring Insurance and HOA Fees, Report Finds"
Condo prices in Florida, particularly in Jacksonville, Miami, and Orlando, have dropped due to surging insurance and HOA costs following the collapse of the Champlain Towers South condominium. Homeowners are being forced to lower listing prices as condo ownership becomes less attractive and affordable, while single-family home prices have increased. Rising insurance costs and HOA fees are causing potential buyers to explore other housing options, leading to a slowdown in condo sales. New condos are less popular due to higher price tags, while existing properties less than 10 years old remain in demand.
