Condominium prices experienced their most significant decline since 2012 this past fall, driven by increased homeowner association dues and reduced buyer demand. This downturn is attributed to factors such as the shift towards remote work, making urban downtowns less appealing, and a slowdown in second-home markets. Rising insurance and maintenance costs are escalating HOA fees, impacting affordability. In some areas, a surplus of supply and higher insurance premiums are further pressuring prices, with many condos now valued below their last sale price.