Residential sales dollar volume fell across South Florida in October.
Condo sales were a particularly sore point, posting double-digit declines in all three counties, according to Multiple Listing Service data collected by the Miami Association of Realtors. Total dollar volume reached $4.2 billion, down from $4.3 billion in October of last year.
Median prices for single-family homes and condos rose in Miami-Dade and Broward counties, while home prices remained flat in Palm Beach County and condo prices fell.
Miami-Dade County
In Miami-Dade County, total home sales fell 10 percent, year-over-year, to 1,769 deals. Single-family home sales dipped 5 percent to 830 closings, and condo sales dropped 15 percent to 939.
The median sale price for single-family homes grew 9 percent to $670,750. For condos, the median sale price rose 3 percent to $415,000.
Total dollar volume reached $1.7 billion. For single-family homes, dollar volume jumped 10 percent to $1 billion. Condo dollar volume also rose 10 percent to $646 million.
Broward County
Broward County’s total home sales shrank 12 percent, year-over-year, to 1,882 closings. Single-family home sales rose 2 percent to 1,001 deals. Condo closings plummeted 24 percent to 881 deals.
For single-family homes, the median sale price increased 7 percent to $615,000. The median sale price for condos rose 3 percent to $280,000.
Dollar volume totaled $1.1 billion. Dollar volume for single-family homes stayed flat at $798 million. For condos, dollar volume plunged 22 percent to $319 million.
Palm Beach County
In Palm Beach County, total sales sank 10 percent, year-over-year, to 1,794 deals. Single-family sales dipped 3 percent to 1,052 closings. Condo sales plunged 19 percent to 742 deals.
The median price for single-family homes held steady at $621,500. For condos, the median price slumped 3 percent to $305,000.
Total dollar volume in Palm Beach County reached $1.4 billion. Dollar volume for single-family homes rose 12 percent to $1 billion. For condos, dollar volume plummeted 25 percent to $347 million.
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