Everybody keeps saying the same thing about Florida right now: the market is cooling. That's true on average. It also hides the more interesting part. What you're buying decides which way your price went.
Here's the split. Across Northeast Florida, the typical single-family home just sold for a record median of about $396,000 this year. The typical condo sold for $226,000, down from a peak of $259,900 back in 2023. That's a drop of roughly 13% while houses were setting new highs. Same counties, same mortgage rates, opposite direction.
I pulled this from 25 years of realMLS closings so I could line the property types up against each other. Index every type to 2019 and watch them move: condos actually led the boom. They rose faster than houses all the way through 2023. Then they peeled off, fell below single-family in 2025, and kept sliding. Townhouses set new highs. Condos are the one type in the region still stuck below where they were.
It isn't a size trick
Whenever a median moves, the first question is whether the mix changed, meaning smaller or cheaper units happened to sell. So I checked price per square foot, which ignores size. Same answer. Condo price per foot is down about 15% from its 2023 peak, and single-family price per foot is a touch higher than it was in 2022. The decline is real, not a counting quirk.
Why condos and not houses
The short version: a condo costs more to own than the mortgage shows, and that cost went up.
After the Surfside collapse in 2021, Florida passed a condo-safety law. Older buildings have to complete structural inspections and fully fund their reserves, with the reserve deadline landing at the end of 2024. Plenty of associations had kept dues low for years and suddenly had to catch up. They did it with special assessments and higher monthly fees. On top of that, condo insurance jumped all over the state. So the cost of owning a condo climbed even when the loan payment didn't.
Buyers shop the whole payment, not just the price. When dues and assessments go up, the price has to come down for the math to work. Lenders got stricter too. Buildings with pending litigation, overdue inspections, or thin reserves became hard to finance, which shrinks the buyer pool for exactly the older units that show up most in this data. A single-family buyer carries none of that. Nobody hands them a bill for a neighbor's roof.
Condos are also leaving the market
It's not just price. Condos are a shrinking slice of what sells here. They were about 10% of closed sales in 2019. In 2025 they were 6.8%, the smallest share in the 25-year record. Condo closings fell from 3,240 in 2020 to 1,825 in 2025. Fewer buyers can clear the financing and carry-cost hurdle, so fewer of them trade.
What it means for you
If you're buying and the budget points you at a condo, do the homework before you fall for the price. Ask for the reserve study, the inspection status, and any assessment that's coming. A cheap condo with a $20,000 assessment on the way isn't cheap. Well-funded buildings are getting discounted right alongside the shaky ones, and that's where the value is.
If you're selling an older condo, price to today, not to 2023, and have your reserve and inspection paperwork ready up front. The listings that sit are the ones where a buyer can't get a straight answer on future costs.
If you own a house here, this is a reminder that the headline number rarely fits your situation. Your value and a condo two miles away are on different tracks right now.
These numbers come from realMLS closings across Northeast Florida's six authoritative counties, 2019 through 2026 year to date. Want the full monthly picture? The Momentum Market Pulse has the county-by-county breakdown, free.
- Jon Brooks, Co-Founder, Momentum Realty / jon@movewithmomentum.com
This article summarizes Momentum Research analysis and Jon Brooks's commentary. It is for general informational purposes only and is not financial, investment, legal, or tax advice. County-level statistics are never a price for any specific home or condo. 2026 figures are year to date through July 10. Consult a licensed professional about your situation.