September 30, 2016
Good news for sellers! The Miami and Fort Lauderdale real estate markets rebounded in August. Existing home sales in Miami-Dade County and Broward County were much stronger, when compared to the previous month's sales.
While the overall volume of existing single-family home and condominium sales in Miami decreased 3.3 percent annually, single-family home sales reached the highest level in 22 years. Those sales prevented another market freefall, as seen in July's 20-percent decrease in overall sales numbers. Miami condo sales decreased 13.6 percent from August 2015, which was still better than July's 24.7-percent decline.
In Broward, the overall real estate market rose 7.8 percent. This came after an 11-percent decrease in July. Annually, existing single-family home sales were up 8.7 percent and condo sales were up 6.9 percent.
For more information on buying or selling a home in South Florida, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: Miami Herald
