Miami-Dade mirrors Broward with sales dip

Entering a steadier, cool-off period comparable to Broward County, Miami-Dade saw a minor drop in sales for existing condominiums and single-family homes in November, according to Miami Association of Realtors data.

Single-family home sales were down 2.4 percent, to 982 closings from 1,006 year-over-year. Sales fell 7.4 percent from 1,060 month-over-month. Condo sales dipped 6.3 percent, to 1,274 closings from 1,359 year-over-year. The month-over-month change for condos was a 10 percent decrease, data show.

“There are definite, definite signs the market is shifting [from a seller’s market] to a more balanced one,” Mark Zilbert of Zilbert International Realty told the Miami Herald.

Over in Broward, single-family home sales dipped 11.1 percent to 1,076 closing from 1,201 year-over-year. Condo sales also dropped – by 6 percent – to 1,206 closings from 1,283 year-over-year, as reported yesterday. [Miami Herald] — Mark Maurer