Residential income fell and selling prices continued to rise throughout South Florida in December.
Total dollar volume achieved $3.6 billion in the tri-county area, according to Several Listing Provider information gathered by the Miami Affiliation of Realtors. That’s up 6 per cent, yr-above-12 months, from $3.4 billion in December of 2022. Solitary-family home charges in Miami marked a vivid spot in South Florida, displaying the strongest advancement in the space.
Miami-Dade County
Full house gross sales in Miami-Dade County fell 4 per cent, calendar year-above-calendar year, to 1,714. Solitary-family members household product sales jumped 1 per cent to 754 specials, and current condos dropped 7 % to 960.
Median costs for solitary-family houses surged 15 per cent to $610,000. Condominium prices grew 10 percent to $410,000.
Total greenback volume for Miami attained $1.3 billion, fueled by a 14 per cent swell in one-spouse and children greenback quantity that hit $683 million. Dollar volume for condos fell 5 p.c to $616 million.
Broward County
Broward County whole house product sales dropped 4 percent to 1,901. For one-relatives houses, gross sales held steady at 876 closings, while condominium profits dropped 6 percent to 1,025.
Median charges for both of those one-loved ones properties and condos climbed 8 per cent to $570,000 and $275,000, respectively.
Broward’s whole dollar quantity reached $1 billion in December. Dollar quantity for single-family members houses jumped 6 per cent to $656 million. For condos, dollar volume sank 1 per cent to $376 million.
Palm Beach County
Whole dwelling revenue in Palm Seaside County declined 3 percent in December to 1,770. For solitary-household homes, income dropped 3 p.c to 969. Apartment profits decreased 4 % to 801.
Median selling prices rose for both equally solitary-family households and condos, up 6 % to $580,000 and 2 % to $305,000, respectively.
Overall greenback volume for the county came to $1.3 billion. Dollar volume for single-spouse and children households surged 9 %, achieving $901 million. For condos, dollar volume dipped 2 per cent to $407 million.
