Most Tampa condos that sit are priced as if the unit were the whole story. Buyers are also pricing the building: HOA dues, special assessments, insurance, and the reserve study and inspection reports Florida sellers now hand over. Over the past 12 months, 1,569 of 3,658 Tampa condos and townhomes (43%) came off the market unsold at least once, and 720 of the 1,148 listed on November 12, 2026 (63%) had been on the market 60 days or more. The fix starts with pricing the unit and the building together, then presenting both clearly.
What the Tampa condo numbers show
Shane Vanderson reviewed every condo and townhome listing with a Tampa address in Stellar MLS from November 2025 through November 2026, counting homes rather than listings:
- Stalls are common. 1,569 of the 3,658 condos and townhomes that sold or came off the market (43%) came off unsold at least once.
- Today’s listings are aging. On November 12, 720 of 1,148 active condo and townhome listings (63%) had been on the market 60 days or more, and 560 (49%) for 90 days or more. 636 (55%) had cut their price, by a median of 6.0%.
- Most that came off haven’t come back. Of the 1,569 that came off, 182 have since sold and 191 are back on the market or under contract. 1,196 (76%) were still off the market on November 12.
- The stall had a cost. Condos that sold on their first listing had a median of 44 days on the market. Condos that sold after coming off spent a median of about 166 days on the market across their listings, and closed at a median of 86.8% of the highest price they had been listed at, even though that was 97.5% of their final list price.
- The high end isn’t immune. 191 of 407 condos and townhomes priced at $1 million or more (47%) came off unsold at least once.
Source: Stellar MLS data for condos and townhomes with a Tampa address, November 12, 2025 to November 12, 2026, analyzed by Shane Vanderson. Counts are homes, not listings. Days on market are MLS active days. Some $1 million-plus counts include developer listings in new buildings.
Note the last two figures in the fourth bullet. Once those condos relisted at the right price, they sold close to asking. The stall cost months, plus the gap between the first asking price and the price that worked.
Why condos stall: buyers are pricing the building too
HOA dues and special assessments
Monthly dues go straight into a buyer’s payment math, so two similar units with different dues are not the same price to a buyer. A special assessment that is pending or recently approved does the same thing in a lump sum. When the asking price doesn’t account for either, buyers do the subtraction themselves and move on. Read selling a Tampa Bay condo with a special assessment.
The reports buyers now receive
Under section 718.503 of the Florida Statutes, a condo owner selling a unit must give the buyer the declaration, articles, bylaws and rules, the annual budget and financial statement, the inspector’s summary of the building’s milestone inspection report if one applies, the association’s most recent structural integrity reserve study (SIRS) or a statement that none has been completed, and the turnover inspection report where one applies. Since July 1, 2025, when HB 913 took effect, a resale buyer generally has 7 days, not counting weekends and legal holidays, to cancel after signing and receiving those documents.
The practical result: buyers see the building’s reserve and repair picture during the contract, and they can walk if it surprises them. Sellers do better when they read the same documents first and price with them in mind. Read Florida condo milestone inspections and SIRS reports in 2026.
Financing
Many buyers need a conventional loan, and lenders that sell loans to Fannie Mae review the building as well as the buyer. Fannie Mae’s Selling Guide (section B4-2.1-03) treats condo projects in need of critical repairs, including material deficiencies and significant deferred maintenance, as ineligible, and a special assessment tied to an unresolved critical repair makes a project ineligible too. When that happens, the buyer pool narrows to cash buyers and lenders with other loan programs. Ask your association manager early where the building stands so the answer doesn’t arrive during a buyer’s loan approval.
Insurance
Buyers weigh the association’s master policy, which flows into the dues, and the cost of their own unit policy. The Florida Realtors condo rider used with most resale contracts lets buyers ask for the association’s insurance declaration pages, so have them ready. Read HO-6 condo insurance in Tampa Bay.
What to do if your Tampa condo is sitting
- Get the building packet now. Request the budget, financial statement, SIRS, milestone inspection summary, insurance declarations, and the last 12 months of board minutes, so you know what a buyer will read.
- Price the unit and the building together. Compare closed sales in your building and similar buildings nearby, then account for differences in dues, assessments, and completed or upcoming repairs.
- Present the building as well as the unit. Show the amenities, the views, and the facts buyers care about, such as recently completed work, in plain terms.
- Decide with your agent. Adjust in place, or pause and relaunch with everything ready. A relaunch with the same photos and the same price usually repeats the result.
When Shane Vanderson takes over a condo listing that sat, he starts with the association documents before he sets the price, because that is where buyers will look once they are under contract. Shane works with condo buildings across Tampa, from Harbour Island and Channelside to Bayshore and Westshore, and he relaunches units with a price built from the building’s closed sales, new photography and video, and exposure through Engel & Völkers’ global network.
Frequently asked questions
Do I have to give buyers my building’s reserve study and milestone inspection report?
In most Florida condo resales, yes. Section 718.503 of the Florida Statutes lists the documents a selling owner must provide, including the association’s most recent structural integrity reserve study, or a statement that none has been completed, and the inspector’s summary of the milestone inspection report if one applies. This is general information, not legal advice.
Can a buyer cancel after reading the condo documents?
Generally, yes. Since July 1, 2025, a resale buyer has 7 days, excluding weekends and legal holidays, to cancel after signing the contract and receiving the required documents. Reading the documents yourself before you list reduces the chance of a surprise during that window.
Why can’t buyers get a loan for my condo?
Lenders review the building as well as the buyer. Under Fannie Mae’s Selling Guide, projects in need of critical repairs, including significant deferred maintenance, are ineligible for its conventional loans until the issue is resolved. Ask your association where the building stands, and ask a lender to check it before you price.
Should I rent my Tampa condo instead of selling it?
Sometimes, but check your association’s leasing rules first, since many buildings set minimum lease terms or limit rentals. Then compare the rent with your dues, insurance, taxes, and any assessments. In Tampa, 1,196 of the 1,569 condos and townhomes that came off the market unsold in the past year were still off the market on November 12, 2026, so many owners are weighing the same choice.
Tampa condo buyers are pricing the building and the unit together. Price both, read the documents first, and relaunch with everything ready. If your condo is sitting or came off the market, read what to do if your Tampa home isn’t selling, or call or text Shane at 813-205-5430 for a no-pressure second opinion.
Sources: Florida Statutes section 718.503; Florida Realtors on HB 913 (June 2025); Florida Realtors on the condo rider (December 2025); Fannie Mae Selling Guide B4-2.1-03.
Shane Vanderson is a Broker Associate and REALTOR® with Engel & Völkers South Tampa, licensed in Florida since 2012. He helps Tampa homeowners sell after their home didn’t, with a focus on luxury homes, waterfront homes, and condos. Engel & Völkers South Tampa, 724 S Dale Mabry Hwy, Tampa, FL 33609.
