S
outh Florida's residential market experienced a significant downturn in September, with sales and dollar volume declining across the tri-county region. According to data from the Miami Association of Realtors, total dollar volume dropped 16% to $3.8 billion, down from $4.5 billion in September last year.

    In Miami-Dade County, home sales fell 15% year-over-year to 1,692 closings, with single-family home sales declining 10% and condo sales plummeting 19%. Despite this, the median sale price for single-family homes rose 9% to $653,400, while condos saw a 1% increase to $420,000. Total dollar volume in the county reached $1.5 billion.

    Broward County also experienced a decline in total sales, falling 15% year-over-year to 1,850 closings. Single-family home sales dropped 12%, and condo sales plummeted 18%. However, single-family home median sale prices rose 2% to $615,325, while condos saw a 4% increase to $366,978.

    Palm Beach County suffered the largest decline, with total sales plummeting 20% year-over-year to 1,628 closings. Single-family home sales fell 15%, and condo sales tanked by 25%. Despite this, single-family home median sale prices rose 3% to $615,000, while condos saw a 2% increase to $315,000.

    In all three counties, dollar volume declined significantly: Miami-Dade County's single-family dollar volume dropped 10%, Broward's plunged 18%, and Palm Beach County's fell 10%. Condo dollar volume also decreased in each county, with the largest decline seen in Palm Beach County at 20%.