Since 3 August 2026
Losing half your buyers in a 4.9-month market is survivable. Losing half in a 12.3-month market is a repricing.
On 3 August 2026 the Limited Review process for established condominium projects was retired. Limited Review was the light-touch path: a larger down payment bought a shorter list of questions about the building. It no longer exists.
Established projects now require a Full Review, or a waiver that covers projects with ten or fewer units — which means essentially no Miami condominium tower qualifies.
Down payment no longer shortens the questions
This is the part buyers and sellers keep getting wrong. Twenty percent down no longer shortens the questions. Fifty percent down no longer shortens the questions. If your buyer is financing, the building is getting a Full Review, at every down-payment level.
What failing actually does
A building that fails a Full Review does not become unsellable. It becomes cash-only. Since 48.5% of Miami-Dade condominium sales closed in cash in June 2026, that sounds survivable. It is not, and the reason is supply.
Miami-Dade condominiums carried 11,550 listings and 12.3 months of supply in June 2026, with the median down 3.15% year over year and a median 85 days to contract. Single-family homes sat at 4.9 months with the median up 3.73%.
Losing half your buyers in a 4.9-month market is survivable. Losing half your buyers in a 12.3-month market is a repricing.
Why this is a building question
Nothing about the apartment changes. The finishes, the view and the floor plan are what they were. What changed is the pool of people permitted to buy them with a mortgage — and that is decided at the building level, by insurance, reserves and structural compliance.
This is the single most important thing to understand about buying a Miami condominium in 2026, and it is not a unit-level question.
Frequently asked questions
What changed for Miami condo buyers on 3 August 2026?
The Limited Review process for established condominium projects was retired. Financed purchases in those projects now require a Full Review regardless of down payment.
Does a larger down payment avoid a Full Review?
No. Neither twenty nor fifty percent down shortens the review for an established project.
What happens if a building fails a Full Review?
It becomes effectively cash-only for buyers, removing roughly half the buyer pool in a market already carrying 12.3 months of condominium supply.