Home sales fell across South Florida in March.
Still, dollar volume rose for the region, according to Multiple Listing Service data collected by the Miami Association of Realtors. Dollar volume reached $5.3 billion, up from $5.2 billion in March of last year.
Median prices for single-family homes sustained growth in Miami-Dade and Broward counties, helping to boost dollar volume throughout the region. Yet, condo median prices fell in both counties.
Miami-Dade County
In Miami-Dade County total sales dropped 7 percent, year-over-year, to 2,002 closings. Single-family deals fell 8 percent to 961, and condo closings dipped 5 percent to 1,041.
The median price for single-family homes rose 3 percent to $670,000. For condos, the median price decreased 2 percent to $437,450.
Dollar volume for the county totaled $2.1 billion. Dollar volume for single-family homes surged 13 percent to $1.3 billion. Condo dollar volume grew 2 percent to $877 million.
Broward County
In Broward County, total sales dropped 7 percent, year-over-year, to 2,132 deals. For single-family homes, sales dipped 2 percent to 1,062. Condo sales sank 11 percent to 1,070.
The median price for single-family homes grew 5 percent to $635,000. The median price for condos dropped 3 percent to $280,000.
Broward’s dollar volume totaled $1.3 billion. For single-family homes, dollar volume decreased 1 percent to $927 million. Condo dollar volume plunged 15 percent to $388 million.
Palm Beach County
In Palm Beach County, total sales fell 1 percent, year-over-year, to 2,209 deals. Single-family home sales rose 2 percent to 1,255. Condo closings dipped 4 percent to 954.
For single-family homes, the median price fell 2 percent to $625,000. The median price for condos dropped 6 percent to $310,000.
Total dollar volume in the county hit $1.9 billion. For single-family homes, dollar volume slumped 10 percent to $1.3 billion. Condo dollar volume grew 1 percent to $532 million.
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