The Greater Miami condominium market has the nation’s second-highest imbalance between sellers and buyers, another dubious distinction that shows would-be condo buyers are choosing to rent instead. Renting at brand-new Miami apartment buildings like Douglas Enclave is the smart choice today, as affordability and financing challenges continue to hamper the local condo market.

Through August, there were 251% more condo sellers than buyers in the Miami market, according to a Redfin report cited by South Florida Business Journal. The nationwide average is only 72%. 

Aspiring condo buyers are unable to find attainable condos to purchase. Even if they are comfortable with a specific purchase price, obtaining a mortgage for a Miami condo is extremely difficult. 

And that doesn’t account for the burdensome insurance and post-Surfside HOA/condo association costs.

“In the Sunshine State specifically, soaring insurance costs tied to natural disasters and expensive homeowner association fees for condo owners post-Surfside are also playing a role,” the SFBJ report states.

Miami is an intensely competitive rental market, so the smart move is to secure an 18-month lease for a Douglas Enclave apartment now and avoid having to compete with the masses for comparable apartments at much higher rents in 2026.