Sellers cut asking prices by 1%. Buyers actually paid $38 a square foot less. That gap is exactly where the negotiation lives right now.
South Florida condo contract prices fell about 7% heading into summer, according to Peter Zalewski of CondoVultures. Overall pending-sale prices dropped from $567 per square foot on April 28 to $529 per square foot on June 16, a $38 per square foot decline. Vintage condos, those 30 or more years old, fell nearly 9%, from $342 to $313 per square foot.
Here's the tell: asking prices barely moved. Overall asking prices slipped just 1%, from $554 to $548 per square foot, and vintage asking prices held flat at $327 per square foot, about 40% cheaper than the overall market. The analyst describes the market as approaching a 'Deteriorating Buyers Market' heading into summer 2026.
Read those two lines together and the whole market comes into focus. Sellers cut their asking prices by 1%. Actual buyers paid $38 a square foot less. That spread, between what sellers want and what buyers are really closing at, is the negotiation. It means the list price is a starting point right now, not a verdict, and the gap is wide enough that offering under ask is not lowballing, it's meeting the market where it actually is.
My read: this is a buyer's window, especially in vintage condos, but it comes with homework. The same older buildings that are cheapest are the ones facing milestone inspections and reserve requirements, so a low price per square foot can hide a coming assessment. The play is to negotiate hard on price and then verify what you're actually buying. Cheap for the right reasons is opportunity. Cheap for the wrong reasons is a trap.
Right now the list price and the closing price are two different numbers. Let's search the live condo map and find where the real deals are.
Search condos on the live map →Cover photography: Creative Commons / public domain — photo credits.
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