State Experiencing a Significant Increase in Extremely Affordable Homes Amid Market Downturn – You Can Buy a Condo for Less than the Price of a TV

Realtors are predicting that right now may be the best time to buy a condo in an unexpected state.

As Florida’s housing market heads for a crash – with a surplus of listings flooding the market, soaring HOA fees and sky-high insurance rates – they’ve found somewhat of a silver lining: affordability.

Prices are low, and realtors are saying run, don’t walk, to buy in the Sunshine State – and they might be right.

Owners are ‘pricing to sell,’ according to Zillow. 

One two-bedroom, two-bathroom condo in the Hunters Run community of Boynton Beach, complete with a pool and a gym, was purchased in 2002 for $91,000. It’s now going for just $1,000.

The HOA fees are a whopping $1,503, but for a $1,000 home, the buyer still gets a deal. Plus, with no mortgage, a buyer would eliminate that bill, too.

Residency in the neighborhood comes with an amenities-filled community, including three championship 18-hole golf courses, tennis and pickle ball courts, six dining venues, multiple pools, a fitness center, a spa, a salon and monthly entertainment.

Another condo in the area that sold for $29,000 in 2015 is now listed at $9,500 – that’s after the original $19,000 price tag was slashed in half. 

One two-bedroom, two-bathroom condo in the Hunters Run community of Boynton Beach, complete with a pool and a gym, was purchased in 2002 for $91,000. It’s now going for just $1,000 (pictured)

Realtors say run, don’t walk, to buy in the Sunshine State now if you can afford it

Florida realtor Lisa Halpin (pictured) specializes in properties on Palm Island

Price cuts like these are happening all over the state.

Despite the fear of increasing natural disasters, high HOA fees and monthly insurance bills over $1,000, realtors say none of it really matters when the housing prices are this low. Instead, they say now is the time to make a smart property investment.

Florida realtor Lisa Halpin specializes in properties on Palm Island, a secluded paradise accessible only by car ferry. 

She says most buyers in her area are snapping up second homes at low rates, usually paying all cash.

‘We’re located on a barrier island that is accessible only by car ferry. It’s really a beach like no place else… it’s amazing,’ Halpin tells the Daily Mail.

She explained why there’s so much available on the market right now and advises buyers to not let the number of listings scare them off.

‘There’s so many reasons why people sell on our property. We have an aging population, some people are scared – we had hurricanes, and I have one couple in particular that just went, ‘We’re just not gonna do that,” she says.

Most buyers in Florida are snapping up second homes at low rates, usually paying all cash

Florida’s median sale price of $410,700 is 2.31% lower than the national median of $420,400

Florida realtor Lance Willard (pictured) sold a two-bedroom, two-bathroom condo last month for $155,000 

As inventory continues to rise and prices cool, real estate agency Compass agrees, releasing a report that says ‘now is the perfect time to buy a home in Florida.’

Especially because this housing market won’t last forever.

Compass also urged buyers to explore Vero Beach and Sebastian, specifically.

Florida realtor Lance Willard sold a two-bedroom, two-bathroom condo last month for $155,000 in Palm Harbor.

‘In my opinion, it’s always time to buy if you can afford it,’ he tells the Daily Mail. ‘If you understand the market conditions and potential future pitfalls, you should buy.’ 

According to Ramsey Solutions real estate experts, Florida’s median sale price of $410,700 is 2.31% lower than the national median of $420,400.

But the price difference is drastic between the new, luxury condo buildings that go into the millions and buildings over 30 years old. The older builds could be a great investment, says Halpin.

The price difference is drastic between the new, luxury condo buildings and buildings over 30 years old

Compass also urged buyers to explore Vero Beach and Sebastian, specifically

For instance a two-bedroom, two-bathroom condo in Delray Beach that sits on a golf course is listed for $87,500

For instance a 2-bedroom, 2-bathroom condo in Delray Beach that sits on a golf course is listed for $87,500 and already had an $8,000 cut in early June.

Even as the lingering impact of the hurricanes has kept some potential buyers on the sidelines, she advises folks to take this as a moment of opportunity.

‘After every big storm, there is more improvements made – new roof, new doors, new windows – and they get safer and better suited for storms,’ she says.

‘Plus, the newer structures have little damage at all.’

Florida realtor Jeff Lichtenstein says some condo listings are so low because they sit on golf courses and come with a hefty price tag for a membership.    

‘One is basically getting a deal on the smaller condo because of the more expensive membership. Sometimes investors have bought these types of homes or condos to rent out,’ he says. 

But these older golf club developments that haven’t done a lot of updating are also where buyers can find great deals, he adds.

‘Clubs constantly have to invest in improvements, or they get dated and can’t attract new members, so lowering home prices will start to attract buyers,’ he says. 

Realtors are predicting that right now may be the best time to buy a condo in Florida

Realtors say purchasing a condo in Florida right now would be a great investment

Real estate agent Jeff Lichtenstein (pictured), CEO of Echo Fine Properties in Florida

‘Golf itself can also be an issue as you need to have an influx of younger members to keep up with the course maintenance,’ he says. 

‘A community ages without keeping young people, but now they can afford to buy.’

He said 55 plus retirees are also desperate to move out of golf communities because many are older and it’s too physical and expensive of an activity. 

Now, Lichtenstein says, they’re moving to communities that are investing in cooking rooms, arts and crafts, card rooms and gardening areas, and they’re freeing up affordable condos.

And while Florida itself can get a bad rap, Halpin says it’s still paradise.

‘The insurance rates are flattening out. It’s still beautiful here. To the northern owners, it still gets cold up north and the sun still shines down here,’ she says.

Halpin also said timeshares, or fractional ownership, is another option for a deal.

‘I have $17,500 to $32,000 condos that I have listed that are fractional ownership,’ she says.

One West Palm Beach condo is selling for $75,000 and can be rented out by owner right away

From a buyer’s perspective, there’s so many choices for condos in Florida

‘You pay a low price and get 13 weeks a year (two weeks every six weeks) and that time rotates between three and four owners. The association dues cover everything: complete maintenance, taxes, insurance – everything – at $3,610 per quarter,’ she says. 

Still, if you don’t want the headache of co-ownership there are other things to look for. HOAs that have filed for bankruptcy have communities filled with homes for sale if you can do without the amenities.

One West Palm Beach condo is selling for $75,000 and can be rented right away. Cash only buyers will be accepted due to the fact the HOA filed for bankruptcy April 2025. And, the community pool and club houses are closed.

‘It’s a great time to buy because the prices are lower. From a buyer’s perspective, there’s choices. Back in 2021, there weren’t any choices,’ Halpin says, adding that she knows it’s a buyer’s market because she’s seen this all before.

‘It’s what it does. The market works its way back up, then things happen and it comes down. I’ve seen it happen.’