Sales up, prices down in South Florida housing market
By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com
May 20, 2011
South Florida home sales continued their diverging trends in April—sales continued to surge, prices continued to plunge. According to data released Thursday by the Florida Association of Realtors:
In Miami-Dade County, there were 830 sales of existing single-family homes and 1,404 condo sales in April, increases of 40 percent and 94 percent from last April, respectively.
In Broward County, 1,124 single-family home sales and 1,645 condo sales represented increases of 2 percent and 8 percent over last April, when a federal tax credit for homebuyers boosted sales activity.
But prices continued their long-running streak of declines in much of the market. In Miami-Dade, median prices for single family homes slipped 12 percent to $169,200, while condo prices shed another 11 percent to settle at $115,700. In Broward, median prices for single family homes slipped 2 percent to $177,000, and condo prices rose 4 percent to $71,800
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