South Florida Home Prices Are Climbing!

For the seventh straight month, home prices have continued to increase on the South Florida real estate market!

This marks the best home price showing since Fall 2006!

Continue reading to learn more about recent South Florida housing market activity to see how it may affect you as a home buyer!

South Florida Homes for Sale

Here’s what the most recent real estate market data revealed about South Florida home sales activity in June:

June was the 7th month in a row that saw year-over-year single family home price increases in Miami-Dade County
The median price for a single family Miami-Dade County home was $194,250, up 5 percent from the same month in 2011.
The median price for a single-family Broward County home was $215,000, up 8 percent from the year before.
The median price for a Miami-Dade condo was $160,000, up 34 percent year-over-year.
In Broward County, the median price for a condo was $85,900, up 14.5 percent from last year.
There were 906 single-family homes that closed in Miami Dade County, down 1.8 percent from last year.
And in Broward County, there were 1,310 single-family homes that closed, up 14.5 percent year-over-year.
In Miami Dade County, there were 1,368 condos that closed, up 4 percent from last year.
Meanwhile in Broward County, there were 1,485 condos that sold, down 4.4 percent year-over-year.

The data suggests that things are definitely looking up here in South Florida.

Still, analysts are saying it will likely take until 2019 for home sales prices in South Florida to match what they were in 2006.

Prices definitely appear to be on an upward trend on the South Florida real estate market.

Thus, if you’re interested in getting buying a home or condo, then you may want to consider entering the market soon!

For expert guidance on navigating the South Florida housing market as a buyer, please contact me, Scott Patterson.

While you’re at it, you may also be interested in checking out some helpful online home-buying tools:

Until next time,
Scott