Florida has long been the go-to destination for Canadian snowbirds looking to escape winter, but that’s beginning to change. New survey results show that many Canadian owners are preparing to sell their U.S. properties, with Canadian snowbirds selling Florida real estate in growing numbers as higher ownership costs and shifting market conditions encourage many to cash out. As Canadians step away from Florida real estate, buyers and investors are turning their attention to new markets that offer stronger value and long-term potential.
Based on responses from 2,500 Canadian adults collected between August 4 and 9, 2025, the findings suggest a shift in how Canadians view cross-border property ownership.
- 54% of Canadians who currently own U.S. residential property are planning to sell within the next year.
- Of that group, 62% point to the current U.S. administration’s policies and the broader political climate as their main reason for selling; 33% cite personal or financial reasons, and 5% cite extreme weather.
- Among Canadians who already sold a U.S. property in the past year, 44% say politics drove the decision, 27% cite personal reasons, and 22% cite extreme weather like hurricanes and flooding.
- 32% of recent or prospective sellers plan to reinvest their proceeds directly into the Canadian real estate market—a “buy Canadian” instinct that’s showing up in cottage country and recreational-property demand.
The decline in interest is not limited to property ownership. Statistics Canada’s first-quarter 2025 travel data shows Canadians made 6.1 million trips to the U.S., a 10.8% decrease from the previous year. They also spent less overall, with cross-border travel spending falling 7.9% to $5.7 billion.
A Weak Loonie Made Every U.S. Dollar Cost More
It’s not just new rules or higher condo fees making Florida more expensive. The exchange rate has become another major hurdle. As of July 22, 2026, the Canadian dollar was worth about 71 U.S. cents. That means Canadians need around C$1.41 to pay every US$1 in property taxes, HOA fees, insurance, and maintenance, making everyday ownership much more expensive than it was a few years ago.
Florida’s Condo Market
The market itself has changed since the 2021 Surfside condominium collapse. In response, Florida passed Senate Bill 4-D and later updated it through SB 154 and HB 913. The new rules require condo buildings to meet tougher safety and financial standards, including:
- Milestone inspections for condo and co-op buildings three stories or taller, at 25 years old (buildings within 3 miles of the coast) or 30 years old (all others), repeating every 10 years.
- A Structural Integrity Reserve Study (SIRS)—an engineering and financial assessment of eight major structural components (roof, load-bearing walls, fireproofing, plumbing, electrical, waterproofing, windows/doors, and any other item over $25,000) is required every 10 years.
- For budgets adopted on or after December 31, 2024, condo boards can no longer vote to waive or underfund reserves tied to SIRS-identified structural items. Most associations must have their initial SIRS completed by December 31, 2025 (or December 31, 2026, if coordinating with a milestone inspection).
The new reserve funding rules are exposing years of deferred maintenance in many older Florida condo buildings. As associations complete their first SIRS, many owners are being hit with special assessments that can reach six figures per unit. Because Canadian snowbirds have historically purchased older, mid-market coastal condos, many are shouldering a larger share of these unexpected costs.
According to MIAMI REALTORS® + RWorld’s May 2026 market report, South Florida’s housing market is becoming increasingly divided between luxury properties and older condominiums facing financial pressure.
A balanced housing market typically has between six and nine months of supply. With Miami-Dade County approaching 13 months of condo inventory and Broward County exceeding 10 months, buyers now have significantly more negotiating power than sellers.
Meanwhile, single-family homes in both markets remain much tighter, continuing to give sellers an advantage. The divide highlights where much of the Canadian-owned inventory is concentrated: older condominium buildings facing growing pressure.
Insurance Costs Have Compounded the Math
The state has remained the most expensive place in the U.S. for homeowners insurance, with recent estimates placing average annual premiums somewhere between $8,300 and $10,400 depending on the property and coverage.
Insurify’s 2026 report estimates the average Florida premium at $8,292 in 2025, increasing to about $8,458 by the end of 2026. On top of higher insurance bills, non-resident owners cannot take advantage of Florida’s Homestead Exemption, which limits annual assessed-value increases to 3% for primary residents. That means many snowbirds are facing faster-rising ownership costs than their full-time neighbours.
Border Friction Adds a New Administrative Layer
Changes to cross-border requirements have added another factor to consider. A Department of Homeland Security (DHS) rule introduced on April 11, 2025, requires certain foreign nationals aged 14 and older who plan to stay in the U.S. for 30 days or more to complete online registration and fingerprinting if they were not previously registered.
While the rule does not prevent Canadians from wintering in the U.S., it adds another administrative step for owners who are already weighing higher costs and changing market conditions.
Where the Capital is Going
Royal LePage’s survey found that roughly one-third of Canadian sellers plan to reinvest their proceeds in Canadian real estate, including cottages, recreational properties, and other domestic purchases. The trend reflects a broader shift as buyers reconsider the costs and risks associated with owning property outside Canada.
For Canadians who still want a warm-weather retreat, the search is expanding to new destinations that offer lower insurance costs and reduced climate risks. While Florida remains a familiar choice, changing affordability pressures are encouraging snowbirds to explore markets that better fit today’s ownership realities.
What This Means If You’re Watching the Florida Condo Market
For Canadian owners considering an exit, many are choosing to sell before additional special assessments and rising carrying costs reshape their returns. The pace of Canadian snowbirds selling Florida real estate shows no signs of slowing, and this shift is creating opportunities for cash buyers prepared to take on the necessary research.
Before purchasing a Florida condo today, buyers should complete a thorough review that includes:
- Confirming the building’s SIRS has been completed and reviewing what it found
- Checking whether reserves are fully funded or whether a special assessment is pending
- Verifying the building’s warrantable status with lenders if financing is part of the plan
- Comparing total monthly carrying costs and not just the purchase price
For Canadian snowbirds selling and buyers hunting for opportunities, the next few years could bring major changes as builders adjust to shifting demand for recreation properties.
Thinking about trading a Florida condo for a Canadian cottage? Zoocasa makes it easy to browse recreational properties across Ontario, B.C., and beyond. Start your search today.
