It was a rough quarter for residential sales in Miami-Dade and Broward County.
Sales either fell or rose marginally in the second quarter, year-over-year, according to the Miami Association of Realtors. Home prices kept rising, but at a slower pace than before.
Total residential sales in Miami-Dade increased ever so slightly, up 0.6 percent, year-over-year, to 7,861. Single-family home sales rose 1.8 percent to 3,854, and condo sales declined 0.6 percent to 4,007.
Residential sales volume totaled $3.6 billion in the second quarter. Both single-family home sales volume and condo sales volumed fell year-over-year.
The median price of single-family homes in Miami-Dade increased 2.9 percent to $360,000. The median condo price increased 2.5 percent year-over-year to $247,000
Single-family home sales rose by 2.7 percent year-over-year, to 4,666 closings, while condo sales declined by nearly 6 percent to 4,805 sales. Total residential sales came out to 9,471, a 1.8 percent drop year-over-year.
Total sales volume in the second quarter totaled $3.3 billion.
The median price for single-family homes increased to $365,000, up 1.6 percent. Condo prices rose as well, up 3.26 percent to $175,000 year-over-year.
Original content The Real Deal