SoFla home sales rise in April: Florida Realtors

Resi closings in the tri-county region rose nearly 8% to more than 8,700

Miami /
May.May 24, 2018 05:30 PM

Miami-Dade homes (Credit: indmiamibeachrealestate.com)

Residential sales rose in all three counties in April to more than 8,700 closings – a 7.85 percent year-over-year increase – according to reports from the Florida Realtors. Miami-Dade experienced the biggest surge with a nearly 13 percent increase in closings compared to the previous year.

The increases follow a slower first quarter, where sales only rose in Palm Beach County.

Miami-Dade

Condo sales rose 24.6 percent last month to 1,384 closings, while home sales were up only 2.1 percent to 1,217, according to the Miami Association of Realtors.

In all, residential closings totaled 2,601 in April, a 12.9 percent increase from the previous April’s 2,303 sales. Sales volume totaled $1.2 billion, up 17.8 percent. Prices also continued climbing: single-family home prices rose 7.8 percent to $345,000, while condo prices increased by 5.4 percent to more than $241,000.

Broward

Single-family home sales dipped in Broward, down 1.6 percent to 1,378. Condo sales rose to 1,631, a 9.5 percent jump from the previous year. Overall, closings were up 4.15 percent to 3,009. Sales volume totaled $986.8 million in April, a year-over-year increase of about 17 percent.

The median sale price for a single-family home reached $355,500, a 7.7 percent increase; while the median price of a condo rose 8.8 percent to $161,500.

Palm Beach

Palm Beach’s residential market continued to show strength in April, with residential closings up 7.5 percent to 3,097. Home sales totaled 1,690, and condo sales totaled 1,407, increases of 5.8 percent and 9.2 percent, respectively.

The dollar volume totaled $1.44 billion, up nearly 18 percent from April 2017. Prices rose to about $182,000 (up 10.2 percent) for condos and $350,000 for homes (up 7 percent).


Related Articles

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
arrow_forward_ios

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

Loading...