SoFla home sales fall in November on condo closings decline

In Miami-Dade County, condo sales rose slightly; single-family home sales dipped

TRD MIAMI /
Dec.December 20, 2019 04:30 PM
Home sales fall across South Florida in November 2019. (Credit: iStock)

Home sales fall across South Florida in November 2019. (Credit: iStock)

Total home sales fell across South Florida in November, reflecting a decline in condo closings in Broward and Palm Beach counties.

In Miami-Dade, condo sales rose marginally, but single-family home sales dropped, according to the newly released figures, from the Miami Association of Realtors.
Other counties recorded a slight rise in sales of single-family homes.

The November results follow a similarly choppy October, when condo sales declined across the region, and single-family home sales rose in Miami-Dade and Broward, but fell in Palm Beach.

The third quarter was a strong one, however, with sales rising across the tri-county area. The exception was condo sales in Palm Beach County.

Miami-Dade

Total sales in Miami-Dade County dropped slightly in November — year-over-year — by 0.6 percent to 2,033. Single-family home sales fell 2.4 percent to 972. Condo sales increased 1 percent to 1,061.

Meanwhile, luxury condo sales of over $1 million rose 4.1 percent in November, year-over-year, to 51. But luxury single-family sales plummeted by 11.9 percent to 74.

As a result, single-family sales dollar volume decreased 2.2 percent to $526.7 million, while condo sales dollar volume fell 0.2 percent, to $377 million.

The median price for single-family homes increased 2.8 percent to $365,000, while the median price for condos rose 6.5 percent to $245,000.

Broward

In Broward County, total sales decreased 5.3 percent, year-over-year to 2,330, due to a lack of inventory at lower prices, according to the Miami Association of Realtors. Single-family home sales increased 2.2 percent to 1,174. Condo sales fell 11.8 percent to 1,156.

Single-family dollar volume was up 5.4 percent to $538.1 million. Condo sales dollar volume plummeted 13.6 percent to $249.5 million.

The median price for a single-family home increased to $375,000, a 4.2 percent jump; and the median price for a condo increased 2.4 percent, to $170,000.

Palm Beach

Total Palm Beach County total sales fell 3.7 percent to 2,124. Single-family home sales increased 0.4 percent to 1,194, while condo sales dropped 8.5 percent to 930.

Single-family dollar volume decreased, down 5.6 percent for single-family homes, to $584.5 million. Yet condo dollar volume increased by 11.4 percent, to $305.1 million, according to the report.

The median price for single-family homes increased 0.6 percent to $350,000, while the median price for condos rose 6.5 percent to $188,250.


Related Articles

arrow_forward_ios
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Residential sales fell in June (Credit: iStock)

South Florida home sales fall in June

South Florida home sales fall in June
Coral Gables (iStock)

Resi sales plummet across South Florida in Q2. Here are the hardest hit markets

Resi sales plummet across South Florida in Q2. Here are the hardest hit markets
Newly signed residential contracts jumped again in June

Signed South Florida resi contracts soar in June

Signed South Florida resi contracts soar in June
Pending sales and closings were down in May throughout the tri-county region (iStock)

South Florida home sales cut in half in May

South Florida home sales cut in half in May
The number of signed residential contracts increased in May in South Florida. (Credit: iStock)

New single-family contracts exceed condo contracts in May

New single-family contracts exceed condo contracts in May
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
arrow_forward_ios

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

Loading...