Real Estate News

Single-family home sales in Miami break all-time monthly record

A sign posted outside a home for sale on Southwest 115th Street in Pinecrest on Wednesday, June 10, 2015.
A sign posted outside a home for sale on Southwest 115th Street in Pinecrest on Wednesday, June 10, 2015. MIAMI HERALD STAFF

Nearly 1,400 single-family homes were sold in Miami-Dade County in June, an all-time record monthly high.

The previous record was set during the housing bubble in June 2005 when about 1,320 single-family homes were sold, according to a report released Wednesday by the Miami Association of Realtors.

Overall home sales in Miami, a figure that includes condos and townhomes, jumped 6.4 percent in June 2015 compared to June 2014.

Broward County also saw gains. The number of single-family homes and condos sold was up 13 percent year-over-year, with much of the growth coming in the single-family market, according to the Greater Fort Lauderdale Realtors.

Median sales prices also rose in both counties.

The median sales price for a single-family home in Miami-Dade was $280,000 in June, up 14.9 percent over the previous year. Condo prices rose to $205,000 in June, a 7.9 percent year-over-year gain.

In Broward, single-family home prices hit $302,750 in June, up 8.1 percent year-over-year. Condo prices rose to $135,000, up 3.8 percent year-over-year.

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