Sales of residential homes in South Florida are showing positive gains, surpassing last year’s closings for the first time since the pandemic began, according to a Miami Herald article.
Per data from the Miami Association of Realtors in August, overall home sales in Miami-Dade and Broward County increased more than six percent from August of last year compared to the same month this year. The previous sales results, April, May, June, and July, all experienced a decline in net sales when compared yearly. Sales of existing homes are evaluated in the report.
Also in Miami-Dade and Broward, single-family homes surged while condo sales declined as buyers continued to pursue opportunities with greater space and less density. With inventory not being quite as abundant, the median price in the pair of counties for a single-family residence soared above the $400,000 mark.
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