Scott SelleckBroker / Sales Associate / Transition Advisor, The Selleck Group, KW City Views Realty · Scott Selleck | Trusted Bergen County Realtor | Keller Williams City Views Realty, Fort Lee NJ

South Florida Condo Market Divergence: What Bergen County Buyers Need to Know

6 Aug 2026 · 3 min

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3:17

In this video, licensed real‑estate professional Scott Selleck (active since 1993 with over 500 transactions) delivers a market‑update aimed at prospective homebuyers from Bergen and Hudson Counties who are considering purchasing a condo in South Florida. He explains that the South Florida condo market is not monolithic; instead, it consists of distinct sub‑markets with divergent supply‑demand dynamics. - Broward County condos show 10.6‑11.7 months of inventory, creating a deep buyer’s market with soft prices and strong negotiation leverage. - Miami‑Dade County condos have an even larger surplus at 12.3 months of supply, with median prices of $431,000—a 3.2% year‑over‑year decline, reinforcing buyer advantage. - By contrast, Miami‑Dade single‑family homes are in a seller’s market: sales are up 16.8% YoY, median price $695,000 (up 3.7%), and only 4.9 months of supply. - Palm Beach County represents a luxury outlier, with 19 contracts above $3 million in a single week, totaling $128 million, indicating robust high‑end activity. Selleck warns about the “Condo Cliff” – a full‑review warrantability requirement for buildings with 11+ units – which can impede financing even in a buyer’s market. He advises buyers to negotiate price, verify building reserves and warrantability, and consider boutique or well‑managed properties. Sellers are urged to price aggressively, ensure their building passes full review, and present the unit compellingly. He concludes with a call to action, offering a free, personalized consultation via a website link (njflconsultation.netlify.app) or phone/text (201‑970‑3960).

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Hey, I'm Scott Selleck, licensed since 1993, over 500 transactions, and I need to tell you something important if you're a Bergen or Hudson County buyer looking at South Florida condos. The South Florida condo market just sent a clear signal: not all condo markets are created equal. The divergence between Broward, Miami-Dade, and Palm Beach counties is sharper than ever, and understanding it could save you tens of thousands of dollars. Here's what the data shows: Broward County condos Condos: 10.6 to 11.7 months of supply. That's a deep buyer's market. More condos available than buyers. Buyers have leverage. Prices are soft. Negotiation power is high. Now let's look at the numbers for Miami-Dade. Miami-Dade condos: 12.3 months of supply. Even deeper buyer's market. The median condo price is $431,000, down 3.2% year over year. Prices are actually declining. But here's the twist: Miami-Dade single-family homes are a completely different story. Single-family home sales are up 16.8% year over year. Median price, $695,000, up 3.7%. Only 4.9 months of supply. That's a seller's market. The divergence is dramatic. And then there's Palm Beach. 19 contracts at $3 million and above. Totaling $128 million in just one week. Totaling $128 million, the luxury market is thriving and high-end buyers are active. Palm Beach is the outlier. If you're buying a condo in Broward or Miami-Dade, you're in the driver's seat. 10 to 12 months of supply means more inventory, more negotiating power, and less competition. But remember, the Condo Cliff—full review—is now in effect for 11+ unit buildings. Even in a buyer's market, your financing may be harder to get if the building doesn't pass warrantability. The strategy: negotiate price, but verify the building passes full review before you commit. Focus on well-managed buildings with adequate reserves. Consider boutique buildings for easier financing. If you're selling a condo in Broward or Miami-Dade, you're competing with 10 to 12 months of inventory. Your condo needs to be priced aggressively. Your building needs to pass full review. Your presentation needs to be superior. But if you own a single-family home in Miami-Dade, the market is in your favor. Sales up, prices up. South Florida is not one market. It's 3 or 4 different markets depending on the county and price point. The key is knowing which market you're buying in and what that means for your strategy. I'm Scott Selleck. If you're buying a South Florida condo, let me review the numbers for your specific situation. Book a free consultation at njflconsultation.netlify.app or call and text me at 201-970-3960.