Miami-Dade County´s steep drop in home prices was a black mark on a generally positive real estate market in March, according to sales report released by the Florida Association of Realtors on Wednesday.
Sales of existing single-family homes rose 59 percent and 8 percent in Miami-Dade and Broward counties, respectively, compared to March of last year. Condominium sales jumped 85 percent in Miami-Dade to 1,542, marking the first month in more than five years with condo sales in excess of 1,500 condo units. In Broward, condo sales jumped 25 percent to 1,837, also a 5-year high.
Prices were up in Broward, with median prices for single-family homes rising 8 percent to $175,400. For condos, prices rose 1 percent to $70,100.
But in Miami-Dade, prices continued to plunge, falling 19 percent in the single-family home market to $159,800, and dropping 30 percent in the condo market, to $97,400.