South Florida resi sales up in Palm Beach County, down elsewhere in October

Median prices rose across the tri-county region

South Florida Home Sales Volume, Prices Rise in October 2023
(Illustration by The Real Deal with Getty)

Sales volume rose in Palm Beach County and fell in Miami-Dade and Broward in October, as prices rose across the region.

Total dollar volume for the tri-county region reached $4.3 billion, up from the $4 billion in sales closed in October of last year, according to Multiple Listing Service data collected by the Miami Association of Realtors. The uptick in volume equates to 8.5 percent growth, year-over-year.

Sales volume for single-family homes surged in both Miami-Dade and Broward. In Palm Beach County dollar volume for single-family homes held steady, while condo sales volume soared. 

Miami-Dade County

The number of closed deals in Miami-Dade County fell 5 percent year-over-year to 1,971. Single-family home sales dropped 2 percent to 871. Condo deals plunged 7 percent to 1,100.

The median price for single-family homes grew nearly 8 percent year-over-year to more than $618,000. For condos, the median price increased 4 percent to $405,000.

Sales volume for single-family homes jumped 12 percent to 973.1 million. Condo volume fell 4 percent to $717.9 million. Residential deal volume in Miami-Dade reached $1.7 billion.

Broward County

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Single-family home sales in Broward County dropped 3 percent annually to 983 closings. Condo sales tumbled 5 percent to 1,152. Total Broward deals decreased 4 percent to 2,135.

The median price of single-family homes jumped 7 percent to $575,000. For condos, it rose 4 percent to $272,750.

Sales volume for single-family homes ballooned 14 percent to $800.3 million. Condo volume increased 1 percent to $409.6 million. Total dollar volume for the county hit $1.2 billion. 

Palm Beach County

Palm Beach County was the only South Florida county whose sales grew, up 4 percent year-over-year to 2,001 closings. Single-family home sales climbed 4 percent to 1,086. Condo sales rose 4 percent as well to 915 closed deals.

The median price of single-family homes climbed 9 percent to nearly $623,000. For condos, it also grew 9 percent to $315,000. 

Sales volume for single-family homes grew 1 percent to $986.3 million. Condo volume surged 33 percent to $462.9 million. Total residential dollar volume for the county reached $1.5 billion.