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
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
2445 South Ocean Boulevard (Ed Butera/IBI Designs, iStock)
Hedge funder drops record $35M for oceanfront Highland Beach estate
Hedge funder drops record $35M for oceanfront Highland Beach estate
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
arrow_forward_ios

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

Loading...