The Real Deal Miami

Broward home sales slump in November

Single-family home sales fell 6 percent compared to same period in 2013
December 22, 2014 11:15AM

Sales of exiting single-family homes and condominiums in Broward dropped below 2013 levels in November.

Single-family home sales fell to 1,008 units, a roughly six percent drop from the same period a year ago. Condos fell 5.8 percent to 1,139 closings, according to the Greater Fort Lauderdale Realtors. In November, sales of single-family homes were down 27.6 percent from a relatively strong October, while condo sales fell 21 percent.

The median price of a single-family home in Broward fell 1.1 percent to $267,000 from $270,000 in 2013. Single-family homes sold at an average of 93.5 percent of their original list price, compared with 95.3 percent in 2013.

The median price of a condo rose 3.4 percent from $117,000 to $121,000, the Miami Herald reported. Condos sold at an average 91.9 percent of their original list price — down from 94.4 percent a year ago.

Homebuyers are benefiting from a wider inventory of homes and condos, as well as a drop in prices. [Miami Herald] — Kristina Puga