Miami-Dade sees dip in home sales

Home sales in Miami-Dade County hit a bump in the road during April, according to a new report from the Miami Association of Realtors.

The county saw a slight decrease — about 0.5 percent — compared to April 2014, despite year-over-year increases since 2012. A total of 2,698 homes, both condo and single-family, were sold last month in the county.

Though sales lost some footing on the rapid climb from the recession, prices have continued to grow.

The median price in April for a single-family home, valued at $260,000, is up 7 percent from the same month last year. Median condo prices have risen 3.1 percent in the same time frame, now at $199,000.

Miami-Dade’s decrease mirrored the sales trend nationwide, with a drop of 3.3 percent during April for home sales across the country.

The report also stated that cash is still king in Miami, where 52 percent of all sales in April were done in cash — double the national average. — Sean Stewart-Muniz