South Florida Sees Surge in Delistings
Sellers across South Florida are withdrawing their properties from the market en masse, unable to secure the prices they’re hoping for.
According to a study by Realtor.com, the Miami metro area saw an average of 59 delistings for every 100 new property listings in June.
Yet inventory remains high, with over one million active real estate listings in Florida as of July—a record since the COVID-19 pandemic. Several factors are at play: fewer people are relocating to Florida from other states; homebuyers are gradually being priced out of the market; and some owners are selling their second homes due to high maintenance costs (repairs, insurance).
As a result, properties are staying on the market longer. In South Florida, the average time to sell increased by 16 days in July 2025. And as Lauren Brensel of the South Florida Sun Sentinel notes, the median asking prices for new listings show one of the steepest declines among all U.S. metro areas studied—dropping from $535,000 in July 2024 to $509,950 in July 2025 (–4.7%).
Brensel interviewed Mike Pappas, CEO of The Keyes Company real estate firm. According to his observations, homeowners who aren’t in a rush to sell prefer to wait rather than negotiate, as they have significant equity tied up in their properties. Those who remain active on the market tend to be experiencing life transitions—such as divorce, retirement, or the need to upsize or downsize—where selling is a necessity.
In the meantime, delistings are substantial. As Pappas explains: “That’s actually what supports the pricing better, because sellers say, ‘I won’t sell for a lower price,’ and it actually props up the price for the rest of them. We’re right at that balancing act on who’s going to win between the sellers or the buyers.”
Condo Owners and the Dissolution Option
The situation remains complex for condominium owners. In buildings requiring multimillion-dollar repairs, residents are questioning whether their units are still worth saving.
Rebecca Liebson of the Tampa Bay Times spoke with Juan Farach, a partner at Shubin Law Group, which specializes in condominium law: “Termination could become an exit strategy for some buildings that have been poorly maintained for many, many years where it’s hard to catch up.”
This lengthy and complex process legally requires the approval of 80% of unit owners (sometimes more depending on the bylaws), and a minority of just 5% can block it.
This often leads to legal disputes: while some owners are eager to offload aging condos, others refuse to sell because they cannot afford to relocate elsewhere. These cases frequently end up in court.
