Florida condo market shifts with transparency law and court ruling

For decades, purchasing a Florida condo was a leap of faith masked by palm trees and ocean views. But in the new year, the veil of secrecy has lifted.

Between a new mandatory digital transparency law and a landmark court ruling that handed a so-called “poison pill” to developers, the power dynamic in the Sunshine State has shifted dramatically.

“I think it’s definitely correcting,” Douglas Elliman Palm Beach agent Jessica Julian told Fox News Digital about the state of the condominium market. “I would say last year we saw more of these older buildings were hurting, not as many buyers for them. Everybody was kind of scared to dip their toes into an older building after what happened in Miami on Surfside. And so now that assessments are being paid and repairs are being done, we’re definitely seeing that correction.”

“I think momentum is probably the best word that we have. Things have stabilized. We are gonna move forward… And again, the demand here in South Florida is so strong,” MIAMI REALTORS Chief of Residential & Advocacy Danielle Blake also told Fox News Digital.

FLORIDA’S AGING WATERFRONT CONDOS BECOME GOLD MINES AS OWNERS CASH IN ON DEVELOPER BUYOUTS

The first major shift of 2026 includes provisions that took effect under House Bill 913, which requires associations with 25 units or more to have a dedicated, secure digital portal where prospective buyers can see a condo’s bank statements, reserve details and even structural reports of a building.

A lifeguard tower sits on the beach on a sunny day in front of condos on August 16, 2023, in Miami, Florida. (Getty Images)

“The click of the button, you can go in there, you can look at all these documents – including the budget – before you make that offer,” Blake said. “We’re huge proponents of it. It brings transparency and accountability, and we continue to promote that.”

“It’s making the condo market more predictable. So condos that have delayed reserves or delayed issues with their building are seeing a lot more ongoing negotiations,” Julian noted, “where buildings that have thought ahead and have fully funded reserves, they have a competitive edge in the market.”

In Miami-Dade, 65% of active inventory consists of older condo buildings, and sales in the $200,000 to $400,000 range are up 21% year over year despite rising insurance costs and assessments, according to REALTORS data. The experts weighed in on whether buyers are being brave or just eager for a slice of paradise.

“I would like to say it’s all because of our advocacy work. I mean, transparency is really important, but I think…