South Florida Real Estate Market Conditions – 2nd Quarter 2007

The Florida Association of Realtors (F.A.R.) has released the sales reports for the 2nd quarter 2007.   Most of the South Florida real estate market is doing reasonably well despite ongoing negative media reports.  Comparing the 1st and 2nd quarters of 2007, it seems that the real estate market in Broward County and Palm Beach County improved in recent months.  Unfortunately, Miami-Dade County did not fare as well.

Sales of single-family resale homes and condos increased in the greater Fort Lauderdale and West Palm Beach areas when compared to the 1st quarter 2007.  Median sales prices also increased in both areas during the same time period.

However, in comparison to the 1st quarter 2007, sales of single-family resale homes decreased in the greater Miami area even while sales of resale condos increased.  Although sales of condos increased, the median sales price decreased for both condos and single-family homes in Miami-Dade 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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