Home sales rose throughout South Florida in December, with sales volume reaching $3.32 billion for the month. Median home prices also continued to increase in the tri-county region, according to the Miami Association of Realtors.
The strong figures followed a weak November, in which residential sales fell in Miami-Dade, Broward and Palm Beach counties, year-over-year.
Residential sales in Miami-Dade County rose by 16.4 percent in December, year-over-year, to 2,424. Single-family home sales increased 16 percent to 1,174, while condo sales jumped 16.7 percent to 1,250.
Single-family home sales volume totaled $703.8 million, up 30.4 percent. Condo sales volume rose 30.6 percent to $508.5 million.
Single-family home prices also continued to rise, increasing by 7 percent to $380,000. The median price of a condo increased 4.3 percent to $245,000.
In Broward County, residential sales increased by 14.2 percent, year-over-year, to 2,697. Single-family home sales grew by 15.1 percent to 1,321. Condo sales jumped by 13.4 percent to 1,376.
The median price of single-family homes increased 8.6 percent to $380,000. For condos, the median price was $180,000, a 12.5 percent jump compared to December 2018.
Total sales volume for single-family homes reached $653.1 million, a 29 percent increase. Condo sales volume rose by 22.8 percent to $316.8 million.
Total home sales in Palm Beach County increased 19.6 percent, year-over-year, to 2,642. Single-family home sales increased 15.5 percent to 1,420, and condo sales rose by 24.7 percent to 1,222 closings.
The sales volume for single-family home sales totaled $702.5 million, up 18.4 percent year-over-year. Condo sales volume increased 63.4 percent to $438.2 million.
Median prices increased 5.6 percent to $364,000 for single-family homes, and up 5.6 percent to $189,900 for condos.