South Florida resi sales, dollar volume tumble in June

South Florida resi sales, dollar volume tumble in June


Residential sales and dollar volume dropped across South Florida in June.

Price growth is persisting in the tri-county region, according to data collected by the Miami Association of Realtors. Total dollar volume for Miami-Dade, Broward and Palm Beach counties reached $5.3 billion, down 7 percent from the $5.7 billion closed in June of last year. 

Miami-Dade County

Total residential sales in Miami-Dade County fell 13 percent, year-over-year, to 2,051 closings. Single-family deals dipped 4 percent to 966, while condo sales plummeted 20 percent to 1,085.

The median price for Miami-Dade single-family homes jumped 6 percent to $657,000. The median price for condos rose 1 percent to $420,000. 

Dollar volume in the county totaled $2 billion in June. Dollar volume for single-family homes surged 17 percent to $1.2 billion, while dollar volume for condos fell 12 percent to $830 million.

Broward County

Broward County total home sales tumbled 19 percent, year-over-year, to 2,206 closings. Single-family home sales sank 9 percent to 1,138. Condo sales plunged 27 percent to 1,068 deals. 

The median price for single-family homes rose 4 percent to $640,000, and the median price for condos increased 3 percent to $287,500.

Total dollar volume in Broward hit $1.4 billion. Single-family home dollar volume dropped 9 percent to $945 million, and condo dollar volume plummeted 23 percent to $406 million.

Palm Beach County

Total sales in Palm Beach County sank 19 percent, year-over-year, to 2,137 deals. Single-family home sales dipped 11 percent to 1,269 closings, and condo sales plunged 28 percent to 868.

The median price for single-family homes rose 6 percent to $659,999. The median price for condos held steady at $325,000. 

Dollar volume in Palm Beach totaled $1.9 billion. For single-family homes, dollar volume fell 5 percent to $1.4 billion. For condos, dollar volume took a nosedive, falling 30 percent to $462 million. 

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