Helena Yeaman and one of her listings in the Grand Reserve of Coral Springs. {Courtesy}
By Helena Yeaman, Real Estate Broker Associate
Many of us in the real estate business look back with longing at the 2021 market when droves of people from northern and western regions of the country flooded Florida in a quest to escape states with stricter anti-COVID regimes.
Most on-market properties had multiple offers with folks lining the sidewalk waiting for open houses to begin. I personally had one open house with over 100 people waiting in line for a chance to take a peek, which had 12 offers and sold at a price far over list.
Gone are those days. Higher mortgage rates are clearly the most important factor, but there are others. Instead of a net population gain of 260,000 people in 2021, the Sunshine State’s 2025 net gain was only 23,000 people. In Coral Springs and Coconut Creek combined, only 879 houses and 654 condos sold in 2025, compared to 1350 and 1300 in 2021. Instead of multiple offers with single-family homes in Coral Springs going over 100% of the asking price in 2021, the average sales price as of December 2025 was 95% of the asking price. Time on market has more than doubled from an average of 22 days to 55 days.
The situation for condominiums is even more dire, as post-Surfside statutes and regulations have led to a surge in condo fees and a wave of sale listings, with the average sales price falling 13% for both areas.
So what can sellers and landlords do to stay ahead of the market?
First, let the data and your real estate agent help you determine the appropriate listing price. Many customers hold on to the notion that the 2021 price hikes would be around forever. Markets go up and down. This is the nature of capitalism, and if you want to sell or rent out your property, you must listen to the market.
Second, ensure your property is in the best possible condition. With high insurance rates, people do not want to buy houses with old roofs or properties that need a lot of upgrades. So replace the roof, tear out that old carpet, and take the steps necessary to make your investment appealing.
Third, manage your expectations. For landlords, this means lowering the rent from the highs of 2021-2023. The opportunity cost of leaving your property vacant for an extended period of time far outweighs the few hundred dollars extra you think your property is worth. Get involved with your association board, particularly if they impose overly onerous regulations regarding credit score and income. After all, you are the one financially responsible. These boards are well-intentioned; however, they end up lowering the pool of potential tenants. Background checks are understandable, but anything beyond this means less income for the owner and a higher possibility of financial default that will ultimately mean higher fees and lower value for all owners.
If you follow these recommendations, you will be on your way to a smoother transaction.
Helena Yeaman is a tenured Professor of Economics and Real Estate at Broward College, as well as a Broker Associate at RE/MAX and Licensed Community Association Manager. She can be reached via email here.
