South Florida Sliding Home Prices

  • Fewer homes were sold in June (except Ft. Lauderdale which saw a 1% increase)
  • Condo prices are still holding high in Miami while sales take a nose dive
  • A 2 percent decline in Miami moved median home prices to $378,000 from 371,600. The number of homes sold went down to 469 from 884, a 47 percent decrease.

For the rest of the numbers view the full MSN Money/Bizjournals article 

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2 Comments

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2 responses to “South Florida Sliding Home Prices

  1. I wonder if the median price increase for condos is simply associated to the higher priced condos entering the market? The $275,000 number seems extremely low in comparison to the pricing of all these new luxury condos hitting the market. It would be nice to see a split report for condos based on different price ranges.

  2. Entering which market? The Beach or the Core? The Beach is retaining a rather high mhp. The luxury market there has remained largely stable. The Core, with its unit supply excess, is a wholly different animal. As it stands, the mhp has nowhere to go but down in the Core.

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