South Florida residential sales jump in December

Condo sales volume in Palm Beach jumped 63% y-o-y

TRD MIAMI /
Jan.January 23, 2020 01:30 PM
(Credit: iStock)

(Credit: iStock)

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.

Miami-Dade

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.

Broward

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.

Palm Beach

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.


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