|
Getting your Trinity Audio player ready...
|
The inventory for South Florida single-family homes continues to be limited. Although residential sales rose in August, single-family sales fell as a result of the declining inventory. Condo sales saw an increase in the luxury market despite price increases.
In Miami-Dade, residential sales increased by 30.6% YoY in August. This percentage accounted 3,299 closings. During that period, single-family sales decreased by 3.5% while condo sales rose by 70.1%. However, luxury sales of single-family homes priced at $1M or above rose by 68.6% to 258 sales. As for luxury condos, sales dramatically increased by 217.1% to 222 closings.
In the Miami-Dade market, median prices continued to increase. In fact, the median price for single-family homes rose by 20.3% to $500,500. As for condos, the median increased by 26.4% to $335,000. For this county, the total sales volume totaled $2.5 billion in August.$1.4 billion accounted for single-family home sales and the $1.1 billion remaining accounted for condo sales.
Read full article here to find out about the numbers for other South Florida counties.
Looking for a South Florida Single-Family Home?
AMG International Realty is a global real estate firm specializing in Florida. So, if you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!
Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).
