South Florida Home Sales Rise in Q3 2019
Home sales, dollar volume and median prices rose across South Florida in the third quarter, driven by an influx of buyers from high-tax states and declining mortgage rates. The numbers from the Miami Association of Realtors reflect a strong September, when sales in Miami-Dade and Broward counties climbed by double digits. July was also solid, as sales dollar volume soared, particularly in Palm Beach County. August proved to be a slow month, with a drop in closings across the region.
In Broward County, single-family home sales rose 4 percent in the third quarter, year over year, to 4,299 sales. Condo sales jumped 6.4 percent to 4,383.
Single-family and condo dollar volume also grew, up 7.7 percent to $2 billion, and up 6.6 percent to $951 million, respectively.
The median price for a single-family home increased to $370,000, a 4.2 percent jump, and the median price for a condo increased 4.8 percent, to $173,000.