August sales of single-family homes higher across S. Florida

Realtors: August sales of condos also rose in Broward and Palm Beach but fell in Miami-Dade

Oct.October 02, 2016 09:00 AM

August sales of homes rose in Miami-Dade, Broward and Palm Beach County from last year’s levels.

August sales of single-family homes increased from last year’s volume by 9 percent in Miami-Dade, 11 percent in Broward and 12 percent in Palm Beach County.

August sales of condos also rose in Broward and Palm Beach but fell in Miami-Dade for the ninth consecutive month compared to the same month last year.

Realtors groups in Miami, Fort Lauderdale and Palm Beach County also reported that single-family homes listed for sale in August fell 11 percent from the same month last year in Broward.

However, the August inventory of single-family listings increased 6 percent in Palm Beach County and 10 percent in Miami-Dade.

Median sale prices of single-family homes in August were higher in all three counties than in August 2015, especially in Miami-Dade, where the median surged 15 percent to $315,000.

The August median increased 6 percent to $325,000 in Broward and 7 percent to $315,000 in Palm Beach County. Half of all properties sell at prices above the median and half at prices below.

Despite lower August condo sales than last year, Miami-Dade also had a median condo sale price of $215,000, up 6 percent from August 2015.

Median condo sale prices in August rose  by 7 percent from last year in Broward to $144,755 and by 9 percent in Palm Beach County to $160,000. [Sun-Sentinel] — Mike Seemuth

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