Single-family home sales remain hot across South Florida

Miami /
Sep.September 23, 2014 04:30 PM

Condo sales have cooled across South Florida, but single-family homes have stayed in demand.

A Florida Realtors report shows 3,952 single-family homes were sold in the tri-county region in August, a 1.6 percent year-over-year increase. And the median sales price grew 3.8 percent to $270,000, according to the South Florida Business Journal.

“In August, the annual growth rate of Florida home prices continued to converge toward a level typical of what we observed back in the housing market’s stable, pre-boom days,” Florida Realtors Research Economist Brad O’Connor said in a news release. “The fact that we continue to see price growth is an encouraging sign that more and more traditional owner-occupant homebuyers are emerging to keep demand strong in the face of a diminished investor presence in the market.”

Although there are more than 30,000 new condos proposed or in development in South Florida, the market for existing condos has slowed.

Sales of condos and town homes in the region fell 13.4 percent in August to 3,703. [South Florida Business Journal]Christopher Cameron


Related Articles

arrow_forward_ios
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
Real estate developers, brokers court Art Basel Miami Beach attendees
Real estate developers, brokers court Art Basel Miami Beach attendees
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Edgardo Defortuna and Kasim Badak with renderings of the tower (Okan Tower)
Okan Tower is back: Developer relaunches sales of downtown Miami tower
Okan Tower is back: Developer relaunches sales of downtown Miami tower
Location Ventures launches sales of co-living project in Miami Beach
Location Ventures launches sales of co-living project in Miami Beach
Location Ventures launches sales of co-living project in Miami Beach
A rendering of Alina Residences Boca Raton and El-Ad National Properties' Noam Ziv 
El-Ad launches sales of second phase of Alina Residences Boca Raton
El-Ad launches sales of second phase of Alina Residences Boca Raton
Selling out post-Surfside collapse
Selling out post-Surfside collapse
Selling out post-Surfside collapse
Eichner launches sales of waterfront Bay Harbor Islands condo project
Eichner launches sales of waterfront Bay Harbor Islands condo project
Eichner launches sales of waterfront Bay Harbor Islands condo project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...