In this episode of the Miami Condo Mondays™ podcast, we discuss why South Florida has nearly an eight year of supply of ultra luxury condos—minimum price of $20 million—listed for resale.

Miami Condo Mondays™ is a live podcast hosted by Peter Zalewski of the Miami Condo Investing Club™ and veteran broker Jenny Huertas of CVRRealty.com providing an in-depth look at the latest residential real estate trends in South Florida.

Recorded weekly in Greater Downtown Miami, the podcast offers a one-hour discussion on various real estate topics, including preconstruction condos, market trends and investment strategies.

The hosts share their expertise, with Zalewski focusing on macro perspectives and Huertas offering micro insights from her on-the-ground experience.

Tune in every Monday at 4 PM (EST) on the social media accounts of Peter Zalewski and Jenny Huertas for insights on the latest trends in the South Florida condo market.

Episode Overview

The South Florida ultra-luxury condo market—defined as units with prices of at least $20 million—is confronting a significant inventory glut at the start of the critical 2025 Winter Buying Season that began this month.

This was the central topic of the latest Miami Condo Mondays™ podcast, recorded in Greater Downtown Miami on Nov. 24, 2025.

Veteran consultant Peter Zalewski of the Miami Condo Investing Club™ and co-host Jenny Huertas, the broker-owner of CVR Realty™, detailed the market dynamics, noting that despite the constant media buzz and the perception of scarcity, the data reveals a substantial imbalance between supply and demand in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.

The most recent data indicates that 59 ultra-luxury condos are currently on the market, carrying an average asking price of about $30.6 million or $4,720 per square foot.

For context, about 90 percent of South Florida’s ultra-luxury condo listings are located in Miami-Dade County.

In contrast, the tricounty’s wider condo market remains relatively accessible, with 57 percent of all available condos priced below $400,000.

Huertas—who has been a real estate broker for nearly two decades—highlighted the specialized nature of the ultra-luxury unit, noting that maintenance fees are high.

The median maintenance fee for a South Florida ultra-luxury condo is about $1.71 per square foot per month, roughly a 49 percent premium over the Miami-Dade County average of $1.15.

During the 12 months ending Oct. 31, 2025, only nine ultra-luxury units traded, equating to a mere 0.8 sales per month.

This slow pace has resulted in an alarming supply figure of nearly 79 months, representing over seven years needed to absorb the existing inventory if no new units were to come online and sales continued at their current pace.