South Florida condo sales outperform home sales in October In Miami, bulk of condo deals were in the $150k to $400k range
Residential sales across South Florida were up in Miami-Dade, Broward and Palm Beach in October, with condo closings rising roughly 20 percent in each county.
Increases in both home sales and median prices last month were due in part to heightened demand spurred by concerns of rising interest rates, according to the Miami Association of Realtors.
Residential closings rose nearly 15 percent year-over-year in Miami-Dade County to 2,284, marking the fourth consecutive month of sales increases. Condo closings jumped 21.3 percent to 1,211, with the bulk of deals occurring in the $150,000 to $400,000 range.
Sales of single-family homes increased 8.1 percent, up to 1,073. The majority of deals were for homes in the $250,000 to $600,000 range. Overall sales volume totaled $949 million in Miami-Dade. Read more here:The Real Deal Miami