South Florida resi sales keep climbing in August

National home sales fell 1.5 percent compared to the same period last year

Miami /
Sep.September 20, 2018 04:30 PM

Aerial view of homes in South Florida (Credit: Pxhere)

Residential sales are still climbing across South Florida, according to August figures from Florida Realtors. Median prices are also still rising, but at a slower pace than before.

The total sales volume for residential closings in Miami-Dade, Broward and Palm Beach counties was $3.27 billion in August, up more than 16 percent from $2.81 billion in the same month the previous year.

Across the country, existing home sales were down 1.5 percent last month, compared to the same period last year, according to the National Association of Realtors.

Miami-Dade

Residential sales in Miami-Dade saw the biggest jump in the tri-county region, rising 13.25 percent to 2,444 closings in August. Single-family home sales increased 10.5 percent to 1,186, while condo sales were up 15.9 percent to 1,258 closings.

The median sale price also rose, up 6.7 percent to $360,000 for single-family homes and up 2.2 percent to $230,000 for condos. While prices are still increasing, they’re doing so at a slower pace.

Broward

Closings in Broward grew 4.4 percent to 3,011, thanks to an 8.8 percent increase in condo sales to 1,480. Single-family home sales inched forward, up 0.5 percent to 1,531.

In Broward, the median sale price for homes was $360,000, a 3 percent increase from August 2017. For condos, the median price rose 6.1 percent to $165,500.

Palm Beach

Palm Beach County also experienced a bump in residential sales, up 2.17 percent to 2,774. Home sales rose 1.7 percent to 1,576, and condo sales increased 2.8 percent to 1,198.

The median price for single-family homes was flat year-over-year at $340,000, and it jumped 5.7 percent to $185,000.


Related Articles

arrow_forward_ios
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
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
arrow_forward_ios

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

Loading...