Are luxury condos harder to sell in Tampa Bay?

Since 2024, yes: 43% of $1M+ condos listed in Hillsborough and Pinellas didn’t sell within a year, versus 33% of houses; before 2024 there was no real difference (Stellar MLS).

Luxury › Research › Luxury condos got harder to sell in 2024 — especially in older buildings

Buying · Hillsborough & Pinellas · Data January 2024 to October 2026

Luxury condos got harder to sell in 2024 — especially in older buildings

In plain English

Before 2024, luxury condos sold about as easily as houses (21% vs 23% didn’t sell within a year). Since 2024, 43% of $1M+ condos didn’t sell within a year, compared with 33% of houses.

Older buildings have it hardest: in buildings more than 45 years old, 48% didn’t sell within a year. Florida’s newer condo safety laws require structural inspections and savings for major repairs in older buildings, and buyers now ask what those will cost before they make an offer.

For example: out of 10 luxury condos listed in a building over 45 years old, about 5 were still unsold a year later.

Share that didn’t sell within a year: houses, condos and townhouses — before 2024 and sinceMLS sales, same rule in both periods

How to read this: gray is before 2024, bronze is since. Look how much the condo bar grew.

Listed 2019–2023Listed January 2024 to October 2025

Single-family

23% → 33% Listed 2019–2023 23% · Listed January 2024 to October 2025 33%

Condo

21% → 43% Listed 2019–2023 21% · Listed January 2024 to October 2025 43%

Townhouse

20% → 36% Listed 2019–2023 20% · Listed January 2024 to October 2025 36%

0%20%40%60%

The numbers

Type	Before 2024: didn’t sell	Since 2024: homes	Since 2024: didn’t sell
Single-family	23%	5,690	33%
Condo	21%	1,058	43%
Townhouse	20%	251	36%

Condos that didn’t sell within a year, by building age$1M+ resale condos listed January 2024 to October 2025

How to read this: a longer bar means condos in buildings of that age were harder to sell.

new (0–2 yrs)

65% 65% · n=78

3–10 yrs

34% 34% · n=148

11–25 yrs

39% · n=356

26–45 yrs

39% · n=378

over 45 yrs

48% · n=98

0%20%40%60%80%

The numbers

	Homes	Didn’t sell within a year	Typical days to an accepted offer	Typical final price vs. first price	Sold at or above first price
new (0–2 yrs)	78	65%	91	93%	24%
3–10 yrs	148	34%	90	90%	9%
11–25 yrs	356	39%	47	92%	15%
26–45 yrs	378	39%	59	90%	16%
over 45 yrs	98	48%	42	91%	21%

Buildings 26–45 years old were at 39%; past 45 years, 48%. Brand-new towers are a special case: resales there compete with the developer’s own unsold units.

What it means for you

If you are buyingIn an older building, ask for the milestone inspection report, the reserve study and the history of special assessments before you talk price. The building’s finances are part of what you are buying.

If you are sellingShare your building’s inspection and reserve information up front. In an older building, the unanswered question is usually what stops the sale.

If you are investingAn older building is a resale risk you take on with the unit. Price your exit with that in mind.

What these words mean

Did not sell within a year: No sale was agreed within 12 months of the home first going on the market, even if the listing was cancelled and put back up in between.
Building age: How old the building was when the home was listed, from the year built on the MLS record.
Median: The middle number: half of the homes were above it and half below. A few extreme sales cannot pull it around.

What this can’t tell you

Building age comes from the year built on the MLS record. It doesn’t show whether a building has finished its inspections, funded its reserves or already charged an assessment.
This is a general description of Florida’s condo laws, not legal advice about a particular building.
Some building-age groups are small; any row marked “small sample” is not charted.

Related research

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Will a $1M+ home sell? About 1 in 3 didn’t within a year

33%

of $1M+ homes listed January 2024 to October 2025 didn’t sell within a year, counting private sales.

Clear pattern · 24-point gap

Selling

The first month sets the price

97% → 90%

of the first price: an offer in the first 30 days, then after.

Clear pattern · 21-point gap

Buying

Flood zones and waterfront: no difference before 2024, a big one since

40% vs 25%

of homes in flood zone AE vs zone X didn’t sell within a year (listed since 2024).

Clear pattern · 20-point gap

Selling

The house itself: size, pool and age

53% vs 28%

of houses over 7,000 sq ft vs the easiest size didn’t sell within a year.

Clear pattern · 25-point gap

Know which listings are already losing the argument.

Tell me what you are looking for. I will send the listings where time, a relist or a flood zone has already moved the leverage to your side — and the ones where it has not.