South Florida Real Estate Market Conditions – August 2007

The Florida Association of Realtors (F.A.R.) has released the sales reports for August 2007.  Comparing the July 2007 figures with August 2007 (see below), the number of resale single-family home sales decreased in all three counties in August.  While the median sales price decreased slightly in both Broward County and Palm Beach County, it increased in Miami-Dade County by approximately 4%.

Unfortunately, the Miami metropolitan area did not fare as well with respect to condos.  While the number of sales of resale condos stayed rather stable (from July to August 2007) in the Fort Lauderdale and West Palm Beach metropolitan areas, the greater Miami area saw their numbers decrease a little over 16%.  Meanwhile, the median sales prices decreased somewhat in both the greater Fort Lauderdale and Miami areas but increased considerably in the West Palm Beach metro area.  Below are the numbers when compared to the same time last year.

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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One Response to “South Florida Real Estate Market Conditions – August 2007”

  1. South Florida Real Estate Market Conditions - September 2007 « South Florida Real Estate Voice | Homes & Condos | South Florida Living Says:

    […] areas (MSA) saw a decrease in the number of single family home and condo sales when compared to August 2007.  The Greater Fort Lauderdale area had the biggest decrease in both cases.  The overall drop in […]

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