Condo Owners Cut Prices by $121K Amid Rising Fees in 2026

Condominium owners are facing challenges selling their units, with some cutting asking prices significantly. One owner reduced his asking price from $270,000 in May 2025 to $149,000 by September 2026. Homeowners association (HOA) fees are increasing, with some approaching $470 per month, while special assessments, averaging nearly $2,500 for older buildings, are also rising. This trend is seen across the U.S. as community associations anticipate further fee increases to cover rising insurance and financial reserve standards.