South Florida Home Sales Fall in April 2022, Prices Up
Residential sales fell again in April across South Florida, as median prices continued to rise, with one exception: single-family homes in Palm Beach County.
The year-long slowdown continued last month, with double-digit declines in Miami-Dade, Broward and Palm Beach counties, according to the Miami Association of Realtors. The reports include sales recorded on the Multiple Listing Service.
Closed dollar volume totaled $4.9 billion, down over 30 percent, year-over-year, compared to April 2022.
Miami-Dade County
Home sales in Miami-Dade County decreased 35.5 percent, year-over-year, to 2,222 closings last month. Single-family home sales fell 20 percent to 1,000 closings, and condo sales declined 44 percent to 1,222.
The median price of single-family homes grew 6 percent to $600,000. The median price of condos also rose about 6 percent to nearly $415,000.
Dollar volume in Miami-Dade totaled $1.7 billion in April. Single-family home dollar volume fell 27 percent to $923 million, and condo dollar volume declined 48 percent to $802 million.
Broward County
In Broward County, residential sales fell 31 percent, year-over-year, to 2,393 closings. Single-family home sales decreased 28 percent to 1,082 closings. Condo sales plunged 34 percent to 1,311.
The median price rose slightly for single-family homes — up 3 percent to $575,000. The median price of condos grew 10 percent to $270,000.
Dollar volume in Broward County fell to $1.3 billion in April. Single-family home dollar volume decreased 32 percent to $793 million. Condo dollar volume declined 30 percent to $476 million.
Palm Beach County
Residential sales tumbled in Palm Beach County by 17 percent, year-over-year, to 2,441 closings. Single-family home sales fell 15 percent to 1,262, while condo sales dropped 20 percent to 1,179 closings.
In Palm Beach County, the median price for single-family homes fell 3 percent to $585,000. The median price of condos grew 3 percent to $303,000.
Dollar volume countywide fell to $1.9 billion. Single-family home dollar volume decreased 20 percent to $1.2 billion. Condo dollar volume declined about 18 percent to $644 million.
