South Florida Resi Dollar Volume Up in July 2024

South Florida’s total residential sales dollar volume rose in July, as single-family home prices continued their upward trajectory.

Dollar volume reached $5 billion last month, according to the Miami Association of Realtors, which tracks sales recorded in the Multiple Listing Service. That’s up from $4.5 billion in July of last year, marking an 11 percent increase, year-over-year.

Miami-Dade County

Total home sales in Miami-Dade County rose 4 percent, year-over-year, to 2,122. Single-family home sales jumped 11 percent to 1,008, and condo sales increased 2 percent to 1,114.

The median price for single-family homes climbed 6 percent to $670,000, and the median price for condos was up 1 percent to $425,000.

Dollar volume in the county reached $2 billion in July. Single-family dollar volume surged 42 percent to $1.2 billion, and condo dollar volume swelled 9 percent to $812 million.

Broward County

Broward County total home sales increased 1 percent, year-over-year, to 2,263. Single-family home sales jumped 8 percent to 1,131. Condo sales dropped 5 percent to 1,132.

The median price for single-family homes climbed 4 percent to $625,000. The median price for condos fell 3 percent to $272,500.

Dollar volume totaled $1.3 billion in July. Dollar volume for single-family homes ballooned 11 percent to $925 million, while dollar volume for condos sank 1 percent to $397 million.

Palm Beach County

Total sales in Palm Beach County fell 3 percent, year-over-year, to 2,054. Single-family home closings rose 1 percent to 1,174, while condo sales slumped 7 percent to 880.

The median price for single-family homes rose 7 percent to $645,000. The median price for condos increased 2 percent to $320,000.

Palm Beach County dollar volume reached $1.7 billion in July. Dollar volume for single-family home sales grew 3 percent to $1.3 billion. Dollar volume for condos dropped 9 percent to $412 million.