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South Florida real estate activity is now stronger than it was before the impact of the pandemic. For the first time since the pandemic swept the region, year-over-year home sales surpassed 2019 closings. Reported Miami Herald.
Total home sales increased over 6% from August 2019 to August 2020 in Miami-Dade and Broward, according to the Miami Association of Realtors August reports. The prior sales reports — April, May, June, and July — all suffered a year-over-year decrease in total sales. The report measures sales of existing homes.
Sales of single-family homes in both counties skyrocketed while condo sales slipped as buyers continue to seek greater space and lower density. With tight inventory, the median price for a single-family home jumped over the $400,000 mark in both counties.
Read More: https://www.miamiherald.com/news/business/real-estate-news/article245926460.html
