South Florida residential dollar volume surged in December.
Dollar volume across the tri-county region reached $4.3 billion, up 19.4 percent from $3.6 billion in December of 2023. It was a strong month for single-family home sales, while condo deals faltered, according to Multiple Listing Service data collected by the Miami Association of Realtors.
Median prices for single-family homes and condos continued to rise in Miami-Dade, Broward and Palm Beach counties.
Miami-Dade County
In Miami-Dade County, total home sales increased 3 percent, year-over-year, to 1,764 closings. Single-family home sales jumped 10 percent to 829 sales. Condo deals fell 3 percent to 935.
The median price for single-family homes surged 11 percent to $675,000. For condos, the median price rose 5 percent to $430,000.
Dollar volume for the county reached $1.7 billion. Single-family dollar volume ballooned 44 percent, year-over-year, to $982 million, and condo dollar volume climbed 16 percent to $714 million.
Broward County
Total sales in Broward County dropped 1 percent, year-over-year, to 1,886. Single-family home sales grew 8 percent to 950 deals, while condo sales fell 9 percent to 936 closings.
The median price for single-family homes jumped 9 percent to $620,000. For condos, the median price rose 3 percent to $283,250.
Dollar volume in the county totaled $1.2 billion in December. Single-family home dollar volume soared 22 percent, reaching $797 million. For condos, dollar volume shrank 6 percent to $356 million.
Palm Beach County
In Palm Beach County, total sales fell 5 percent, year-over-year, to 1,686 closings. Single-family home sales increased 7 percent to 1,032. Condo deals plunged 18 percent to 654.
The median price for single-family homes jumped 7 percent to $622,500. For condos, the median price grew 4 percent to $317,500.
Dollar volume in the county totaled $1.4 billion. For single-family homes, dollar volume surged 22 percent to $1.1 billion. Condo dollar volume plummeted 24 percent to $309 million.
