South Florida Resi Sales, Dollar Volume Tumble in June 2024

Residential sales and dollar volume dropped across South Florida in June.

Price growth is persisting in the tri-county region, according to data collected by the Miami Association of Realtors. Total dollar volume for Miami-Dade, Broward and Palm Beach counties reached $5.3 billion, down 7 percent from the $5.7 billion closed in June of last year.

Miami-Dade County

Total residential sales in Miami-Dade County fell 13 percent, year-over-year, to 2,051 closings. Single-family deals dipped 4 percent to 966, while condo sales plummeted 20 percent to 1,085.

The median price for Miami-Dade single-family homes jumped 6 percent to $657,000. The median price for condos rose 1 percent to $420,000.

Dollar volume in the county totaled $2 billion in June. Dollar volume for single-family homes surged 17 percent to $1.2 billion, while dollar volume for condos fell 12 percent to $830 million.

Broward County

Broward County total home sales tumbled 19 percent, year-over-year, to 2,206 closings. Single-family home sales sank 9 percent to 1,138. Condo sales plunged 27 percent to 1,068 deals.

The median price for single-family homes rose 4 percent to $640,000, and the median price for condos increased 3 percent to $287,500.

Total dollar volume in Broward hit $1.4 billion. Single-family home dollar volume dropped 9 percent to $945 million, and condo dollar volume plummeted 23 percent to $406 million.

Palm Beach County

Total sales in Palm Beach County sank 19 percent, year-over-year, to 2,137 deals. Single-family home sales dipped 11 percent to 1,269 closings, and condo sales plunged 28 percent to 868.

The median price for single-family homes rose 6 percent to $659,999. The median price for condos held steady at $325,000.

Dollar volume in Palm Beach totaled $1.9 billion. For single-family homes, dollar volume fell 5 percent to $1.4 billion. For condos, dollar volume took a nosedive, falling 30 percent to $462 million.