What’s happening with condo sales in Miami and Broward? Look at the changing numbers

Housing sales and prices in Miami-Dade and Broward counties are rising. But condo woes are dragging down the South Florida real estate market .

Here’s a breakdown of July costs and sales in South Florida from the latest report by the Miami Association of Realtor:

How many condos were sold in South Florida?

Miami-Dade: 1,114 deals, down 2% from July 2023

Broward: 1,132 deals, down 5% from July 2023

What is the median sales price of a condo?

Miami-Dade County: $424,950, about 1% higher than July 2023

Broward County: $$272,500, up 3% from July 2023

MORE: Are condo sellers down on their luck? Miami-Dade and Broward feel the pressure on deals

How many single-family homes were sold?

Miami-Dade: 1,008 deals, up 11% year-over-year

Broward: 1,131 deals, up 8% year-over-year

What is the median sale price of a single-family house?

Miami-Dade: $670,000, up 6% from a year ago

Broward: $625,000, up 4% from a year ago

What were total home sales in July?

Miami-Dade: 2,122 sales, up 4% from a year ago

Broward: 2,263 sales, up 1% from a year ago

How many South Florida cash deals?

Miami-Dade: 36%

Broward: 35%

National average: 27%

What is the housing inventory in South Florida?

Miami-Dade: 4.4 months of houses and 9.1 months of condos

Broward: 4.4 months of houses and 8 months of condos

Note: A balanced market consists of six to nine months of inventory, with anything below benefiting sellers and anything above benefiting buyers.