December was a rough month for South Florida home sales: report

Condo and single-family home sales fell in Miami-Dade, Broward and Palm Beach counties

Jan.January 22, 2019 06:30 PM

(Credit: Pixabay)

Residential sales dropped in all three counties in December, a decline the Miami Association of Realtors attributed to rising interest rates and a lack of affordable inventory.

Yet, median prices generally kept rising in all three counties — although in some cases, at a slower pace than before.


Overall, residential sales in Miami-Dade dropped 6.2 percent to 2,081. The total residential sales volume in December fell by 5.6 percent to $928.8 million.

Miami single-family home sales decreased 5.1 percent 1,011 last month. Condo sales dropped to 1,070, a decline of 7.3 percent.

Prices of single-family homes kept rising, with the median price increasing by 6.7 percent to $355,000. The median price of a condo was flat at $235,000.


Total residential sales also fell in Broward County, down 10.3 percent to 2,357. Single-family home sales were down 11.2 percent to 1,147, while condo closings declined by 9.6 percent to 1,210. The total sales volume in Broward in December totaled $762.7 million, an annual decline of about 11.3 percent.

The median sale price for a single-family home rose slightly, by 3 percent, to $350,000, while condo prices fell by 3 percent to $160,000.

Palm Beach

Residential sales dropped 10.3 percent in Palm Beach County to 2,209. Both single-family home sales and condo sales declined: down 8.8 percent to 980 condo sales and down 11.4 percent for houses to 1,229.

Sales volume for both totaled $861.7 million, a nearly 12 percent drop from the previous year.

The median price of single-family homes budged forward, up 0.9 percent to $344,700, while condo prices rose 8.3 percent to $179,750.

Related Articles

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

1415 South Ocean Boulevard and Steve Schonfeld (Credit: Google Maps and Getty Images)

Hedge funder, wife drop $105M for Palm Beach estate

From left: Howard Stern, President Trump, Sydell Miller, and Ken Griffin, with the island of Palm Beach (Credit: Getty Images and iStock)

Here’s how much President Trump’s Mar-a-Lago pays in property taxes

Daily Digest Miami

South Florida home sales struggle in October, Cipriani and Terra plan luxury condo

Bill McDermott and 445 North Lake Way (Credit: Getty Images and Google Maps)

Software exec sells Palm Beach vacant lot for $17M

Tiffany at 259 Worth Avenue

Breakfast at Tiffany’s? Palm Beach property owner plans luxury condo atop jeweler

Ambassador Hotel Cooperative Apartments (Credit: iStock)

Copperline Partners closes on bulk co-op deal in Palm Beach

320 Island Road (Credit: Zillow)

Heir to coal fortune lists Palm Beach estate for $38M