S
outh Florida's residential market experienced a decline in August, with sales and dollar volume dropping across the region. However, single-family home prices continued to rise in Miami-Dade, Broward, and Palm Beach counties.

    Miami-Dade County saw an 8% drop in total residential sales year-over-year, with single-family home sales dipping 2% and condo sales plummeting 16%. Despite this, median single-family home prices rose 3% to $640,000. Condo prices remained steady at $415,000.

    Broward County reported a 6% decline in total residential sales, with single-family home sales dropping 1% and condo sales falling 10%. Median single-family home prices ticked up 1% to $606,000, while condo prices held even at $275,000.

    Palm Beach County experienced the largest decline, with total residential sales plummeting 15% year-over-year. Single-family home sales fell 11%, and condo sales dropped 20%. Median single-family home prices rose 2% to $617,500, while condo prices increased 3% to $315,000.

    The tri-county region's dollar volume totaled $4.5 billion in August, down 8% from the same period last year. Miami-Dade County's dollar volume reached $1.7 billion, with single-family home sales staying steady at $1 billion and condo sales plummeting 20%.