Condo sales are up: What the numbers say about the South Florida housing market

Miami-Dade and Broward real estate posted their best sales month of the year in September as total single-family homes and condo sales in both counties all grew year-over-year, according to statistics released by the Miami Association of Realtors. In Miami-Dade, if you compare September to August, a month ago, condo sales went up slightly. In Broward, condos sales declined slightly. “There is a lot of pent-up demand for Miami real estate and declining mortgage rates are convincing more buyers to come off the sidelines,” Miami Chairman of the Board Eddie Blanco said in a statement. “New listings for condos have declined for five consecutive months and active listings aren’t growing as fast as they were earlier in the year. We know lower supply puts upward pressure on prices. The long-term data continues to reflect South Florida’s enduring appeal and strong value trajectory.” Said Broward-Miami President Larry Singh: “Fort Lauderdale and Broward County real estate continue to attract domestic and global homebuyers.”

An aerial view taken in September 2024 shows two residential towers under construction by Related Group on the Miami River site where archaeologists unearthed remnants of a 3,000-year-old indigenous village. Construction began after extensive archaeological excavations concluded. Excavated materials are being stored at the 444 Brickell building, at left, which is slated for a third tower that won’t be built until that site is also excavated starting around 2028. MATIAS J. OCNER mocner@miamiherald.com

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