The Real Deal Miami

Prices keep plunging

July 25, 2008 02:14PM

Broward County median home prices fell again in June, dropping 20 percent from a year ago. The median price for existing homes slipped to $305,400, off 20 percent from $382,000 a year ago, according to the Florida Association of Realtors. Sales also dropped, slipping 5 percent, to 639 from 674 last year. However both increased from May. Palm Beach County’s median existing home price dropped 12 percent, to $334,300, from $377,900 last year. Broward condo sale rates remained consistent, dropping only 1 percent from a year ago, though the median price decline kept pace with the county average, dropping 20 percent from last year, to $156,200. Palm Beach County existing condo sales increased 9 percent in June, to 577 from 529 a year ago, the third consecutive month with a year-over-year sales increase. The median price dropped 24 percent, to $153,200 from $201,500 last year.