Record prices in South Florida.
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Housing costs are rising in South Florida. But, going against a national trend, so are sales, with activity increasing for the first time since December.
Prices for single-family homes in the Miami area are now at an all-time high and the highest in Broward this year, according to April data from the Miami Association of Realtors.
Here is a breakdown of costs and sales in South Florida:
What is the median sales price for a single family home?
Miami-Dade County: $654,000
Broward County: $635,000
What is the median sales price of a condo?
Miami-Dade: $444,000
Broward: $282,500
MORE: Why home buyers are flocking to South Florida despite record prices
What were the total home sales in April?
Miami-Dade: 2,342 home sales, up 5.4% from a year ago.
Broward: 2,538 home sales, up 6.1 from a year ago.
What is the housing inventory in South Florida?
Miami-Dade: 4.4 months of houses, 8.3 months of condos
Broward: 4 months of houses, 7.4 months of condos.
Note: A balanced market consists of six to nine months of inventory, anything below benefits sellers and anything above benefits buyers.
How many cash transactions in South Florida?
Miami-Dade: 40.3% of transactions concluded
Broward: 41.5% of transactions concluded
National average: 28%
