The Real Deal Miami

One year post-Irma: Resi sales surge in South Florida in September

Median price for single-family homes fell in Broward, rose elsewhere
By Katherine Kallergis | October 22, 2018 12:45PM

(Credit: Luxury Real Estate South Florida Vimeo)

A year after a dismal volume of closings due to Hurricane Irma, residential sales in South Florida are back up, according to the September figures from the Florida Realtors.

Miami-Dade
Residential sales jumped 35.7 percent year-over-year to 2,019 closings. Condo sales increased 29.5 percent to 1,041, while home sales rose by a whopping 43 percent to 978. The median sale price continued rising, although at a slower pace than before. For condos, the median price rose 1.3 percent to $237,500 and for houses, it rose 7.5 percent to $360,000.

Countywide, residential sales volume in September totaled $900 million.

Broward
Closed sales rose to 2,341 in September, a 13.3 percent annual increase. Condo sales increased 8.8 percent to 1,199, while home sales totaled 1,142 – an 18.5 percent jump. The residential sales volume in Broward County totaled nearly $750 million.

The median sale price rose 5.8 percent to $165,000 for condos, but it fell 2.1 percent for houses, down to $350,000.

Palm Beach
In Palm Beach, residential closings increased 17.8 percent year-over-year to 2,261. Condo sales surged to 1,034, a 24.3 percent jump. Home sales rose nearly 13 percent to 1,227. Sales volume for both condos and single-family homes totaled $849.1 million.

The median price for condos increased slightly, up 1.7 percent to $175,000, while the median price for houses went up to $345,000, a 6.2 percent increase.