South Florida’s housing market is sending mixed signals in 2025. On one side, luxury homes and high-end condos continue to set records, with properties selling for over $100 million. On the other, older condos—especially those built in the 1980s—are stagnating. Many buyers are wary of outdated buildings facing costly repairs and stricter reserve requirements imposed after the 2021 Surfside collapse.

Today, 87% of the 25,051 condos for sale in the tri-county area are over 30 years old. Prices ...