South Florida home sales jump in September

Condo sales in Palm Beach County decreased 5.6 percent to under 1,000 closings

Miami /
Oct.October 24, 2019 01:30 PM
South Florida skyline

South Florida skyline

September was a strong month for residential sales in South Florida, with one exception: condo sales in Palm Beach County, according to the Miami Association of Realtors.

Miami-Dade
Following a slow August, total Miami-Dade County home sales increased 10.9 percent in September, year-over-year, to 2,240. Single-family home sales increased 10.4 percent in September to 1,080, and condo sales rose by 11.4 percent to 1,160.

Median prices again rose for single-family homes and condos, up 4.9 percent to $377,750 for houses and up 3.2 percent to $245,000 for condos.

The jump in luxury sales brought the total sales volume in September to over $1 billion. Single-family home dollar volume was up 19.8 percent to $629.5 million, while condo dollar volume increased by 14.5 percent to $428.6 million.

Broward
Overall residential sales in Broward County increased by 11.3 percent to 2,606 closings. Single-family home sales increased 7.6 percent to 1,229, and condo sales grew to 1,377, a 14.8 percent jump.

The total sales volume for single-family homes rose by 9.6 percent to $533.1 million, while condo sales volume increased 10.9 percent to $292.4 million.

The median price for single-family homes in Broward was $367,500, a 5 percent annual increase. For condos, the median price grew by 3 percent to $170,000.

Palm Beach
Total home sales in Palm Beach County grew 3.1 percent to 2,332 in September, thanks to a rise in single-family home sales. Single-family sales jumped 10.5 percent to 1,356. Condo sales decreased 5.6 percent to 976.

The overall sales volume came out to over $1 billion, with a 31.1 percent jump in home sales volume to $773.7 million and a 16.3 percent jump in condo dollar volume, to $301.2 million.

The median price of single-family homes grew by 2.9 percent to $355,000, while condo prices rose by 7.7 percent to $188,500.


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