South Florida resi sales tumble in Miami-Dade, Broward in November

Despite price growth across the tri-county area, residential sales tumbled in Miami-Dade and Broward counties in November.

Condos reigned king in Palm Beach County, with sales dollar volume surging 26 percent, year-over-year, according to Multiple Listing Service data collected by the Miami Association of Realtors. Total dollar volume for the region hit $3.5 billion in November, up from $3.4 billion during the same month of last year. 

Miami-Dade County

Total home sales in Miami-Dade County fell 8 percent, year-over-year, to 1,651. Single-family home sales dropped 2 percent to 707, while condo sales plummeted 12 percent to 944. 

The median price for single-family homes jumped 12 percent to $615,000. Condo prices rose 6 percent to $420,000.

Total sales dollar volume for Miami-Dade reached $1.3 billion in November. Dollar volume for single-family homes increased 9 percent, year-over-year, to $698 million, while condo dollar volume fell 10 percent to $637 million.  

Broward County

Broward County total home sales declined by 5 percent, year-over-year, to 1,830 closings. Single-family home sales dropped 6 percent to 821. Condo sales fell 4 percent to 1,009.

Single-family home median prices surged 11 percent to $600,000. For condos, median prices rose 10 percent to $280,000.

Dollar volume for Broward deals hit $1 billion. Dollar volume for single-family homes jumped 7 percent, year-over-year, to $648 million. Condo volume spiked 11 percent to $388 million.

Palm Beach County

Total home sales across Palm Beach County rose 3 percent to 1,695. Single-family home sales slipped by 1 percent to 914. Condo sales ballooned 8 percent to 781.

Median prices for both single-family homes and condos increased 6 percent to $600,000 and $308,500, respectively. 

Sales dollar volume in Palm Beach hit $1.2 billion, fueled by a 26 percent annual surge in condo dollar volume, which totaled $394 million. Dollar volume for single-family homes rose 2 percent, year-over-year, to $846 million.