An overall assessment of the South Florida markets shows rising sales and rising prices.
The number of single-family home sales in Miami Beach surged as condo sales declined after a large burst of activity on the prior quarter. Overall price trend indicators and the number of sales continued to rise year over year in Miami Coastal Mainland. Year to date, overall sales and all price trend indicators were above the level seen in 2017.
In Fort Lauderdale, condo sales rose above year ago levels for the fourth consecutive quarter. Single-family price trend indicators were mixed as condos moved higher.
In Boca Raton, condo median sales price hasn’t seen a year over year decline in ten quarters. Sales for condos and single-families have increased year over year for two consecutive quarters.
Single-family sales and median sales price in Delray Beach have been rising year over year for four consecutive quarters.
In Wellington, condo sales rose annual for three of the last four quarters. All single-family price trend indicators increased year over year for the third consecutive quarter.
Palm Beach saw the most fourth quarter market wide sales in five years. Condos continued to dominate with the highest sales share since the financial crisis.
Single-family price trend indicators and sales moved higher in Jupiter. In Palm Beach Gardens, single-family price trend indicators showed double-digit gains as sales decreased.
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