Miami Dade / Broard market news
Miami-Dade County In Miami-Dade County, single-family home sales grew 5.1% to 764 while the median sales price surged 17.1% to $650,000. The luxury market was hot, with sales of homes for $1 million and up soaring 23.1%. Active listings increased 8%, so supply of inventory at the current sales pace increased to 4.4 months. That’s a seller’s market, with a relative shortage of homes to pick from for buyers. Sales of condos/townhouses declined 2.5% to 941 while the median sales price increased 7.7% to $420,000. In the luxury market, sales of $1 million-plus units grew 10.5%. Active listings jumped 32.4%, so the supply of inventory at the current sales pace increased to 7.8 months. That’s a fairly balanced market between buyers and sellers Broward County Single-family home sales in Broward inched down 0.2% to 831 while the median sales price jumped 11.6% to $625,000, according to the Broward, Palm Beaches & St. Lucie Realtors. There was strong demand in the luxury market, with sales of homes for $1 million or greater soaring 30.6%. Active listings grew 23%, so the supply of inventory at the current sales pace increased to 3.8 months. That’s still a seller’s market. Sales of condos/townhouses declined 2% to 986 while the median sales price grew 6.6% to $290,000. In the luxury market, sales of $1 million-plus units jumped 33.3%. Active listings surged 80%, so the supply of inventory at the current sales pace increased to 6.8 months. That’s a fairly balanced market.