South Florida Existing Home Sales Are Up
Hopefully home prices start to follow but with the “shadow inventory” out there it might be a little while.
Fort Lauderdale home sales rose 8 percent, to 734 up from 680. However, the median price fell 3 percent, to $214,000 from $219,500.
In Miami, existing home sales rose 17 percent, to 649 from 556. The median price slid 4 percent, to $197,500 from $205,600.
Florida Realtors said existing condo sales rose in all three counties, as well, with the biggest gain in Miami. Sales there were up 58 percent, to 835 from 529. The median price of an existing condo in Miami fell 8 percent, to $138,800 from $151,000.
Existing condo sales in Fort Lauderdale rose 46 percent, to 1,140 from 781, but the median price fell 10 percent, to $73,600 from $82,100.
West Palm Beach existing condo sales were up 45 percent, to 999 from 691. But, the median sales price fell 9 percent, to $90,900 from $99,800.