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As of November 2024, the median sales price for condos and townhouses in Florida stands at approximately $311,000, reflecting a nearly 6% decline compared to the same time last year. This downward trend began around July 2024, exacerbated by an oversupply of listings that has resulted in over eight months of inventory on the market—an increase of more than 50% from the previous year. The surging number of available units is both a symptom and a cause of the current crisis, leading to drastic price cuts as sellers attempt to offload their properties.