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Home prices, sales go up in South Florida
After a record-setting month in June, South Florida home prices and sales both went up in July.
Existing single-family home sales in Miami-Dade County hit 1,354 in July, up 10.2 percent year-over-year and just shy of June’s record-breaking haul of 1,390, according to a report from the Miami Association of Realtors released Thursday.
Existing condo sales rose to 1,471 in July, up 4.8 percent year-over-year despite the deluge of new condo construction hitting the market.
Broward County also made gains.
There were 1,683 single-family home sales in Broward in July, up 11 percent year-over-year, according to the Greater Fort Lauderdale Association of Realtors. Condo sales hit 1,567, a 10 percent year-over-year gain.
Prices went up in both counties, too.
In Miami-Dade, the median price for a single-family home rose 8.6 percent year-over-year in July, to $278,000. Condos were up 2.6 percent, to $195,000.
In Broward, single-family home prices hit $312,000, a 9.5 percent year-over-year increase. Condos sold for $137,000, up 7 percent.