Florida Condo Drops Price Nearly 50 Percent as Housing Market Struggles

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The value of a Florida condo has dropped nearly 50 percent as the larger housing market suffers in the state. The condo, at 1 Beach Drive in St. Petersburg, has seen its value fall 49 percent over the last 10 years, according to its Zillow listing. In 2016, the unit was worth roughly $489,000; now it's $249,000. Since the end of December alone, the condo's asking price has fallen $64,000 to $256,000. In 2022, the same property had a market value of more than $1 million. The St. Petersburg condo

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