In April, South Florida's real estate market experienced a notable rebound, with significant increases in home sales, sale prices, and total dollar volumes across the region. According to data from the Miami Association of Realtors, the total sales dollar volume soared to $6 billion, up from $4.9 billion in the same month last year. This resurgence is evident in Palm Beach, Broward, and Miami-Dade counties, showcasing a strong recovery from March's downturn.
Palm Beach County
Palm Beach County led the way with a 5 percent year-over-year rise in total sales, reaching 2,568 transactions in April. Single-family home sales surged by 11 percent to 1,402 deals, while condo sales saw a slight dip of 1 percent, totaling 1,166 closings. The median price for single-family homes increased by 11 percent to $650,000, and condo median prices rose by 12 percent to $340,000. The county's total dollar volume hit $2.3 billion, with single-family home dollar volume jumping 28 percent to $1.6 billion and condo dollar volume growing 8 percent to $696 million.
Broward County
In Broward County, home sales increased by 6 percent year-over-year, totaling 2,538 transactions. Single-family home sales experienced an 11 percent rise to 1,196 closings, while condo sales increased by 2 percent, reaching 1,342 deals. The median price for single-family homes climbed by 10 percent to $635,000, and condo prices rose by 5 percent to $282,500. Broward's total dollar volume reached $1.5 billion, with single-family home dollar volume swelling by 26 percent to $1 billion and condo dollar volume increasing by 4 percent to $496 million.
Miami-Dade County
Miami-Dade County also saw growth, with total home sales rising by 5 percent year-over-year to 2,342 closings in April. Single-family home sales surged by 7 percent to 1,065 transactions, and condo sales increased by 5 percent to 1,277 deals. The median price for single-family homes went up by 9 percent to $654,000, while condo median prices rose by 7 percent to $444,000. The county's total dollar volume reached $2.2 billion, with single-family home dollar volume growing by 30 percent to $1.2 billion and condo dollar volume swelling by 28 percent to $1 billion.
The data reflects a robust and recovering real estate market in South Florida, with substantial gains in sales volume, prices, and overall market activity. As the region continues to attract buyers and investors, these trends suggest a strong and resilient market poised for further growth in the coming months.
If you're considering buying or investing in South Florida's dynamic real estate market, now is the time to act. With sales and prices on the rise, opportunities abound for savvy buyers and investors. Stay ahead of the curve by subscribing to The Worth Group's newsletter for the latest updates, market trends, and expert insights. Don't miss out on your chance to be part of South Florida's thriving real estate landscape—get in touch with us today to explore your options and make informed decisions. Visit our website or contact our team for more information.
