South Florida Condo and Home Sales on the Rise
More good news for South Florida! According to a recent report from the Florida Realtors, sales of both condos and homes were on the rise across all of the area’s major urban centers last month. In the lead was Miami with the largest grown in sales overall which included a 47 percent increase in single-family homes sales and a 33 percent increase in condo sales. Fort Lauderdale and West Palm Beach/Boca Raton were not far behind.
Fort Lauderdale saw an 8 percent home sale increase and a 12 percent condo increase while West Palm/Boca Raton experienced a 21 and 26 percent increase in home and condo sales, respectively.
From the South Florida Business Journal:
Single-family home median pricing was down in two of South Florida’s three counties. Miami had an 8 percent drop, recording a median sales price of $182,400 in July. Palm Beach had the biggest drop, with the median price down 17 percent to $187,900 in July. Fort Lauderdale saw its median price rise by 5 percent, to $193,000. Over the year, median pricing for condos in Miami rose by 8 percent, to $118,800; was flat in Fort Lauderdale, at $81,200; and dropped 12 percent in West Palm Beach/Boca Raton, to $82,500.
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