Seller guide
How to Sell a Condo in Southwest Florida Under the New Condo Laws
Condo buyers in Lee and Collier have more choice and more documents to read than ever. Here is how to price, prepare and disclose so your sale holds together.
Selling a condo in Southwest Florida right now takes sharper pricing and a complete document package up front. The condo median across the eight MLS areas we track fell 3.7% over the 12 months to October 2026 to $395,000 with 6.4 months of supply (Cameron Smith analysis of MLS data, 12 months to October 2026), and buyers now get 7 days, up from 3, to review condo documents including the building's structural integrity reserve study (SIRS) funding (HB 913, 2025). Units that sell are priced against recent closed sales in the same building and come with reserves, assessments and insurance answered before the buyer asks.
Last updated November 6, 2026.
What is happening to condo prices in Lee and Collier right now?
Condo prices are soft and buyers have leverage, with 6.4 months of supply in October 2026 and a median sale at 91.5% of original list over the past year (Cameron Smith analysis of MLS data, 12 months to October 2026). Active condo listings were down 18.7% from a year earlier, which helps, but most units still sell below their original list price.
Condo market snapshot
| Metric | Oct 2026 | Oct 2025 | 12 months to Oct 2026 | 12 months to Oct 2025 |
|---|---|---|---|---|
| Median sale price | $366,250 | $390,000 | $395,000 | $410,000 |
| Median price vs a year earlier | down 6.1% | Base year | down 3.7% | Base year |
| Closed sales | 512 | 530 | 8,065 | 6,660 |
| Median days list to contract | 60.5 | 93.5 | 72 | 74 |
| Sale price vs original list | 93.4% | 90.6% | 91.5% | 90.6% |
| Sales with a price reduction | 43.9% | 56.4% | 53.3% | 57.6% |
| Cash sales | 69.1% | 63.6% | 66.3% | 64.6% |
| Active listings at period end | 4,292 | 5,276 | 4,292 | 5,276 |
| Months of supply | 6.4 | 9.5 | 6.4 | 9.5 |
Source: Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026.
| City | Median price | Change from prior 12 months | Months of supply, Oct 2026 | Median days list to contract | Sale vs original list | Cash sales |
|---|---|---|---|---|---|---|
| Cape Coral | $212,500 | down 5.6% | 6.1 | 66.5 | 89.7% | 58.3% |
| Fort Myers | $315,000 | down 5.1% | 6.4 | 70 | 92.6% | 62.6% |
| Lehigh Acres | $195,000 | flat | 8.1 | 49 | 92.4% | 46.4% |
| North Fort Myers | $165,000 | flat | 11 | 75 | 90.0% | 67.4% |
| Estero | $366,476 | down 3.6% | 4.9 | 69 | 92.6% | 67.7% |
| Bonita Springs | $425,000 | down 3.4% | 6 | 73 | 91.4% | 68.6% |
| Naples | $446,700 | down 2.5% | 6.5 | 73 | 91.4% | 67.6% |
| Marco Island | $613,750 | down 1.8% | 6.7 | 79 | 90.5% | 68.5% |
Source: Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026.
- Naples condo values from peak: down nearly 17% from August 2022, per the Zillow Home Value Index (Gulfshore Business, August 1, 2026)
Averages hide a wide spread. Buildings with a finished SIRS, funded reserves and settled assessments compete well, while buildings with open questions sell at a discount. Your building's paperwork matters more than the area median.
How these numbers were measured. Figures come from closed MLS sales and listings in Southwest Florida MLS, pulled November 6, 2026. Each city follows the MLS City field. Estero includes Miromar Lakes, Fort Myers covers only the city limits and downtown MLS areas (unincorporated Fort Myers mailing addresses are left out), and Naples is the Naples postal city on the Collier mainland, with Marco Island counted separately. Single-family means detached homes and detached villas that are not condo owned. Condo and townhouse covers condo-owned units in low, mid and high rise buildings, attached villas and townhouses. Manufactured homes, co-ops, timeshares, land and rentals are excluded. Sales under $20,000 or below 50% or above 150% of list price were dropped, and sales entered after the fact without MLS marketing count toward prices but not toward days or sale-to-list figures. Days list to contract runs from the listing date to the first pending date. Months of supply is active listings at period end divided by average monthly closed sales over the prior 12 months. Flood zone is not in the MLS export, so any flood zone figures on this page come from FEMA or county sources. Condo special assessment means the listing shows a recurring or one-time special assessment.
Which condo laws affect my sale?
The main rules come from laws passed in 2022, 2024 and 2025, most recently HB 913, effective July 1, 2025. The 2026 Legislature did not pass a new condo governance bill.
- SIRS: buildings with three or more habitable stories need a structural integrity reserve study. HB 913 moved the first deadline from December 31, 2024 to December 31, 2025 (Governor's office, June 23, 2025).
- Component threshold: raised from $10,000 to $25,000, inflation adjusted (Withum, July 16, 2026).
- Reserve pause: associations may pause or reduce reserve contributions for up to two consecutive budgets to fund milestone inspection repairs, for budgets adopted on or before December 31, 2028 (Withum, July 16, 2026).
- Funding options: reserves may be funded by special assessment, loan or line of credit with a majority vote of total voting interests (Governor's office, June 23, 2025).
- Buyer review period: extended from 3 to 7 days, and the SIRS funding method must be disclosed to buyers (Governor's office, June 23, 2025).
- 2026 session: no bill amending Chapter 718 governance was enacted. HB 797 rewrote nonprofit corporation rules with conforming condo changes, and the HOA and condo omnibus HB 657 died in the Senate (Hamilton Mikes, September 26, 2026).
Milestone inspections, created in 2022, apply to older condo buildings of three or more stories and can lead to repair work that drives special assessments. Ask your association manager for the status of both the milestone inspection and the SIRS before you list.
What documents must I give buyers, and how long can they review?
Resale buyers get 7 days after receiving the condo documents to cancel, under HB 913. If documents arrive late or incomplete, that clock starts late, so a complete package at listing protects your timeline.
Here is the package I assemble with the seller and the association before the condo goes live:
- Declaration, articles, bylaws, rules and any amendments
- Current budget and year-end financial statement
- Most recent SIRS and the funding method the association chose
- Milestone inspection report, if the building has one, and the repair plan
- Board minutes for the past 12 to 24 months, which often reveal planned assessments before they are announced
- Master insurance declarations and deductibles
- FAQ sheet, rental rules, pet rules and approval requirements
- An estoppel certificate from the association showing what is owed on the unit
When I see an issue in the documents, we address it in the listing and the price, not after a buyer finds it on day five.
How do special assessments and reserve pauses affect my price?
A pending or recent special assessment lowers what a buyer will pay, and an unknown amount lowers it more. A reserve pause can also worry buyers, because underfunded reserves can mean another assessment later.
Who pays an assessment is set by the contract, so decide your position before you list. Common approaches are to pay it off at closing, give the buyer a credit, or split installments with the seller paying those due before closing and the buyer paying those after. When the amount and schedule are known and documented, buyers can price it. When the amount is unknown, they discount more heavily or walk.
If your board has voted a reserve pause under HB 913, ask for the board's explanation and the repair schedule in writing. A clear plan with a dollar figure reads very differently to a buyer than a line in the minutes with no detail.
Will buyers be able to get financing and insurance on my building?
Financing depends on the building as well as the buyer. Lenders review the condo project, and buildings with significant deferred maintenance, pending repairs or weak reserves can be hard to finance, which pushes the sale toward cash buyers.
Cash already dominates, with 5,346 of 8,065 condo sales across the eight MLS areas, or 66.3%, paid in cash over the 12 months to October 2026 (Cameron Smith analysis of MLS data, 12 months to October 2026). With the 30-year fixed at 7.18% on November 5, 2026 (Freddie Mac), financed buyers are also more payment-sensitive, so HOA dues and assessments weigh heavily on what they can afford.
Cash condo buyers paid a higher median price than financed buyers, $430,000 versus $350,000, and went under contract faster, in 70 days versus 76.
| Area | Cash sales | Cash median price | Cash median days to contract | Financed sales | Financed median price | Financed median days to contract |
|---|---|---|---|---|---|---|
| All 8 areas | 5,346 | $430,000 | 70 | 2,719 | $350,000 | 76 |
| Cape Coral | 349 | $205,000 | 58.5 | 250 | $224,350 | 76 |
| Fort Myers | 305 | $330,000 | 70 | 182 | $284,950 | 73 |
| Lehigh Acres | 85 | $155,000 | 38 | 98 | $203,500 | 58 |
| North Fort Myers | 116 | $150,000 | 76 | 56 | $216,250 | 70 |
| Estero | 471 | $395,000 | 72 | 225 | $340,000 | 65 |
| Bonita Springs | 653 | $457,500 | 71 | 299 | $385,000 | 80 |
| Naples | 3,037 | $495,000 | 71 | 1,457 | $390,000 | 78 |
| Marco Island | 330 | $650,000 | 76 | 152 | $558,000 | 93 |
Source: Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026.
On insurance, the association's master policy covers the building, and the buyer needs an HO-6 policy for the unit. Citizens condo unit-owner policies are exempt from its new flood requirement (Citizens Property Insurance). SB 1028, effective June 16, 2026, expands the Citizens clearinghouse and applies a 15% surplus lines price test to commercial residential applications, which includes condo associations, by January 1, 2027 (ResourcePro, 2026). Ask your association what the master policy renewal looks like, because buyers will.
How should I price a condo when inventory sits at 6 months?
Price from recent closed sales in your building and close competitors, adjusted for floor, view, updates and each building's assessment status. List prices of unsold units are not evidence of value.
At 6.1 months of condo supply in Cape Coral, 6.4 in Fort Myers and 6.5 in Naples in October 2026, buyers see many options and compare dues and reserves side by side. Condos across the eight MLS areas sold at a median 91.5% of original list price over the past year, and 53.3% closed after a price reduction, which means most sellers started too high and reduced (Cameron Smith analysis of MLS data, 12 months to October 2026). My pricing analysis for a condo looks at the following.
- Closed sales in the same building over the past 6 to 12 months, and the stack or floor plan
- Active and pending competition, including how long each has sat
- Monthly dues and any assessment balance compared with competing buildings
- Updates such as impact windows, kitchen and baths, and HVAC age
- Rental rules, since some buyers need flexibility to lease
The goal is to land in the first two or three weeks, when a listing gets the most attention, instead of chasing the market down with reductions.
Should I sell now or wait for repairs to finish?
It depends on whether the cost and schedule of the repairs are known. If the assessment is set and the work is scheduled, selling now with a clear credit or payoff can work. If the scope is still unknown, many buyers will wait or discount heavily.
Waiting has its own costs: dues, insurance, taxes and the assessment itself, plus market risk. Selling into January to April, when seasonal buyers are in town, usually brings more showings. I run both scenarios for sellers, with expected net proceeds from selling now against holding through the repair and selling after, so the decision rests on numbers.
What flood disclosures do condo sellers owe?
Florida requires sellers of residential property to give a flood disclosure at or before the time the sales contract is signed, under s. 689.302, effective October 1, 2024. SB 948, effective October 1, 2025, expanded it to cover known flooding that damaged the property during your ownership and flood assistance from any source.
The disclosure covers flood insurance claims, including NFIP claims, and federal assistance such as FEMA grants (laws.flrules.org, 2024; Florida Realtors, September 30, 2025). Ground floor units and buildings that took water in Ian (2022), Helene or Milton (2024) get the most questions. Ask your closing attorney how the rule applies to your unit and the common elements, and answer it accurately.
Frequently asked questions
Who pays a special assessment when a condo sells?
It depends on the contract. Florida purchase contracts let the buyer and seller decide whether the seller pays an assessment off at closing, gives a credit, or pays installments due before closing while the buyer pays those due after. Because assessments directly affect price, set your position before you list and confirm the amount owed with an estoppel certificate from the association.
What is a SIRS and does my building need one?
A SIRS, or structural integrity reserve study, is a study of a condo building's key structural components and the reserves needed to repair or replace them. Florida requires it for buildings with three or more habitable stories. HB 913 set the first deadline at December 31, 2025. Ask your association manager for the most recent SIRS and the funding method chosen.
How long do buyers have to cancel after receiving condo documents?
Seven days. HB 913, effective July 1, 2025, extended the resale buyer's review period from 3 to 7 days and requires that the SIRS funding method be disclosed to buyers. If the documents are delivered late or incomplete, the review clock starts later, so having a full document package ready at listing helps keep your closing date on track.
Did Florida pass new condo laws in 2026?
No bill amending Chapter 718, the condominium law, was enacted in the 2026 session, per Hamilton Mikes in September 2026. HB 797 rewrote nonprofit corporation rules effective July 1, 2026, with conforming condo changes, and the HOA and condo omnibus HB 657 died in the Senate. Current obligations mostly come from the 2024 and 2025 laws, including HB 913.
Can my association pause reserve contributions?
Yes, within limits. HB 913 lets a condo association pause or reduce reserve contributions for up to two consecutive budgets to pay for milestone inspection repairs, for budgets adopted on or before December 31, 2028. Buyers may see a pause as a sign of future assessments, so get the board's written explanation and repair schedule to share with buyers.
Are cash buyers the main condo buyers right now?
Yes, across the region. Over the 12 months to October 2026, 66.3% of condo and townhouse sales across the eight MLS areas were cash, including 58.3% in Cape Coral, 62.6% in Fort Myers and 67.6% in Naples (Cameron Smith analysis of MLS data, 12 months to October 2026). With 30-year mortgage rates near 7.18% in early November 2026 and some older buildings hard to finance, cash buyers have an edge, and sellers should expect them to negotiate on price and assessments.
How long are condos taking to sell in Southwest Florida?
Over the 12 months to October 2026, condos and townhouses across the eight MLS areas took a median 72 days to go under contract and 33 more days to close, and sold for a median 91.5% of original list price (Cameron Smith analysis of MLS data, 12 months to October 2026). Supply was 6.4 months in October 2026, down from 9.5 a year earlier. Well-priced units with clean documents often move faster than those figures.
Talk to Cameron
I work through your building's documents with you before we list: SIRS and funding method, milestone inspection, minutes, budget, insurance and any assessment, then price your unit from closed sales in your building and its true competition. You get a written net sheet and a plan for how we present the assessments to buyers. Call or text me at (239) 940-2101, or send a home value request for your unit. Related: what your home is worth, what condo buyers check, sell or rent your condo and portability when you sell. Area guides: Naples, Marco Island, Fort Myers, Cape Coral and Bonita Springs.
Cameron Smith, eXp Realty LLC. Florida Sales Associate, license SL3246540. In real estate full time since 2009 and a second-generation agent. This page is general information, not legal, tax or insurance advice. Condo law requirements vary by building, and market figures are medians that may not reflect your unit. Confirm document and disclosure obligations with a Florida real estate attorney, assessment balances with your association, and coverage with your insurer.
Sources
- Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026
- Roorda, September housing activity shows Naples-area market finding its balance (October 23, 2026)
- Gulfshore Business, SWFL housing market cools as inventory climbs (August 1, 2026)
- Office of the Governor, Governor DeSantis signs legislation delivering relief to condo owners (June 23, 2025)
- Withum, SIRS update: what it did and what it didn't do (July 16, 2026)
- Hamilton Mikes, Florida condominium law changes (September 26, 2026)
- Florida Condo and HOA Law Blog, Community update July 2026 (July 28, 2026)
- Laws of Florida, Chapter 2024-215, seller flood disclosure (approved May 29, 2024)
- Florida Realtors, Florida expands flood disclosures (September 30, 2025)
- Henderson Franklin, Florida enacts new flood disclosure requirements (September 29, 2025)
- Citizens Property Insurance, Flood Insurance Requirement (accessed November 6, 2026)
- ResourcePro, Florida SB 1028 (ch. 2026-150) overhauls the Citizens clearinghouse (2026)
- Freddie Mac, Primary Mortgage Market Survey (November 5, 2026)
Southwest Florida area guides
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