There’s been a change in condo sales in South Florida. Here are 5 takeaways

Condo sales in Miami-Dade County have mostly been down, but sales of affordable units have actually gone up. November saw a boost for buyers on a budget, but higher-priced homes and condos also made gains.

FULL STORY: Most condo sales are down in Miami-Dade — but one type has seen a big swing

Here are the highlights:

• Affordable condos ($200,000–$400,000) saw a 21% sales jump, while overall existing condo sales dipped almost 4%.
• Older condos are selling faster than newer ones because people value price and location, plus new laws offer more transparency.
• Miami-Dade’s condo prices have dropped about 10% over the past year, but single-family homes got a little more expensive.
• Luxury sales are heating up: Condos over $2.5 million jumped 27%, and many of these priciest properties are bought with cash, especially by international buyers.
• Broward County showed similar trends, with huge spikes in affordable condo sales and rising single-family home sales, but single-family prices went down a bit.

The summary points above were compiled with the help of AI tools and edited by journalists in the Miami Herald newsroom. The full story in the link at top was reported, written and edited entirely by Miami Herald journalists.