I
n July, South Florida's residential sales experienced an increase in dollar volume, driven primarily by a surge in single-family home prices. The Miami Association of Realtors reported a total of $5 billion in sales, a significant jump from last year's $4.5 billion during the same period. This represents an 11% year-over-year increase.

    In Miami-Dade County, the number of total home sales increased by 4% compared to last year, reaching a total of 2,122 units sold. Single-family homes saw a substantial jump of 11% to a median price of $670,000, while condo sales increased by 2% to a median price of $425,000.

    Broward County also saw an increase in sales, rising by 1% year-over-year to a total of 2,263 units sold. Single-family homes saw an impressive 8% increase to a median price of $625,000, while condo sales dropped by 5% to a median price of $272,500.

    Palm Beach County, however, experienced a decrease in sales, falling by 3% to a total of 2,054 units sold. Single-family homes saw a slight increase of 1% to a median price of $645,000, while condo sales dropped by 7% to a median price of $320,000.

    Overall, these figures indicate a healthy market for residential properties in South Florida, with a notable increase in single-family home prices and a steady demand for housing.