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South Florida Real Estate Markets Improved in August

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

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