South Florida Real Estate Market Conditions – May 2007

The Florida Association of Realtors (F.A.R.) has released the sales reports for May 2007.  In comparison to last month, the numbers show somewhat of an increase in single-family resale homes in the West Palm Beach metropolitan area but no significant increase of same in Broward and Miami-Dade Counties.  Meanwhile, compared to last month, the median sales price for single-family resale homes increased in all three market areas, especially in the Miami metropolitan area.

Sales of resale condos in all three South Florida counties slowed slightly in comparison to last month’s figures.  However, the median sale price of resale condos increased in the Miami and Fort Lauderdale metropolitan areas, but decreased only slightly in Palm Beach County.

Current Market Statistics

*Median is the price at which half of the homes sold for more and half sold for less.

Source: Florida Association of Realtors (F.A.R.)

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