After a blistering post-pandemic surge, condo values in the area are now down roughly 15 percent from their 2023 high, according to Zillow’s condo value index.
The chart shows condo values peaking at about $377,500 in 2023 before sliding to roughly $319,900 in February 2026.
That is a drop of about 15.3 percent.
Observers note that condo prices are down across the board, driven by legislation enacted after the 2021 Surfside condo collapse tragedy and the resulting fee increases.
Stricter building inspections, higher insurance premiums, and mandatory reserve funding have raised costs for condo owners, making units less affordable and cooling buyer demand.
But even with that pullback, current condo values remain far above where they stood a decade ago.
The index shows values near $139,300 around 2012, meaning today’s level is still more than double that post-crash low.
The longer arc is volatile. Condo values climbed from about $119,500 in 2000 to roughly $265,500 in 2007 during the housing boom.
They then fell sharply during the housing downturn, dropping to the mid-$160,000s by 2010 and bottoming out near $139,300 around 2012.
From there, the market entered a long recovery. Values rose gradually through the 2010s, reaching roughly $203,300 by 2017 and about $239,000 by 2020.
The steepest recent jump came after that. The chart shows condo values rising from about $256,000 in 2021 to $329,400 in 2022, then to $377,500 in 2023.
Since then, the trend has reversed. Values slipped to about $363,500 in 2024, $344,800 in 2025 and roughly $319,900 in 2026.
Zillow notes that its condo value index is a smoothed, seasonally adjusted measure, meaning it is designed to show the broader market trend rather than every short-term fluctuation.
