Older Condos Slump as Pre-2000 HOA Fees Hit $11,431 After Surfside
Updated
Updated · Yahoo Finance · Aug 15
Older Condos Slump as Pre-2000 HOA Fees Hit $11,431 After Surfside
3 articles · Updated · Yahoo Finance · Aug 15
Summary
Pre-2000 condos are in a deep nationwide slump as buyers recoil from steep HOA dues and the growing risk of one-time repair bills.
Vantaca found median annual fees for those older units reached $11,431, more than double the $5,012 paid at condos built in the last decade.
Nearly 12% of pre-2000 condos on Vantaca's platform imposed special assessments in the past year, with a median charge of $2,041; newer-than-10-year-old buildings avoided them entirely.
The cost pressure accelerated after the 2021 Surfside collapse killed 98 people, pushing older buildings to fund deferred maintenance, higher insurance and stricter reserves while Fannie Mae and Freddie Mac tightened condo lending.
Five-year trends show why sellers are getting trapped: median regular assessments for pre-2000 condos more than doubled, special-assessment rates tripled, and the typical bill jumped from $244 to $1,801.