South Florida home sales fall in June

Miami /
Jul.July 22, 2020 06:14 PM
Residential sales fell in June (Credit: iStock)

Residential sales fell in June (Credit: iStock)

Residential sales fell in June across South Florida, as the rest of the country experienced a record rebound.

The year-over-year declines ranged from 15.5 percent in Palm Beach County to about 22 percent in Miami-Dade, according to Miami Association of Realtors reports released Wednesday. Meanwhile, in the U.S., sales of existing homes across four major regions jumped 20.7 percent from the previous month, to a seasonally-adjusted annual rate of 4.72 million in June, a National Association of Realtors report shows.

Miami-Dade
Residential sales decreased 22.3 percent in June, year-over-year, to 1,893 in Miami-Dade County. Single-family home sales fell 11.8 percent to 1,089, while condo sales declined 33.1 percent to 804.

Single-family home dollar volume decreased 0.5 percent to $658.5 million. Condo dollar volume fell by 29.4 percent to $330.2 million.

Median prices of single-family homes rose by 5 percent to $388,500, while condo prices increased 4.8 percent to $262,000.

Broward
Total home sales experienced a 21 percent annual decline, to 2,333. Single-family home sales decreased 10.3 percent, year-over-year, to 1,313; and condo sales declined 31.5 percent to 1,020.

Single-family sales volume decreased 4.3 percent to $654.1 million. Closed condo dollar volume totaled $241.3 million, down 28.4 percent, year-over-year.

Median prices of single-family home prices increased 5.4 percent to $390,000. For condos, prices jumped by nearly 14 percent to $198,500.

Palm Beach County
Residential sales dropped by 15.5 percent to 2,415. Single-family home sales fell by 12.6 percent to 1,478, and condo closings declined by 19.6 percent to 937.

The closed sales volume of houses totaled $995.8 million, up 16 percent from the previous June. At the same time, condo dollar volume fell by 13.4 percent to $285.5 million, as brokers report an uptick in sales of houses versus condos.

Single-family home prices increased 5.3 percent to $376,000, and condo prices increased 7.9 percent to $205,000.

Write to Katherine Kallergis at [email protected]


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