Home prices surged across South Florida in February.
Condo closings were down across the tri-county region, according to Multiple Listing Service data collected by the Miami Association of Realtors. Total dollar volume for residential sales reached $4 billion, up from $3.7 billion in February of last year.
Miami-Dade County
Home sales in Miami-Dade County rose 1 percent, year-over-year, to 1,705. Single-family home closings jumped 5 percent to 764, while condo sales fell 3 percent to 941.
Median prices for single-family homes surged 17 percent, reaching $650,000. Median condo prices jumped 8 percent to $390,000.
Total dollar volume for the county hit $1.5 billion in February. Dollar volume for single-family homes was up 9 percent, to $767 million. Condo dollar volume increased 7 percent to $708 million.
Broward County
In Broward County, total home sales dipped 1 percent, year-over-year, to 1,817 closings. Single-family home sales held steady with 831 deals, and condo sales dropped 2 percent to 986.
Single-family home median prices swelled 12 percent to $625,000, and condo median prices climbed 7 percent to $290,000.
Broward County dollar volume totaled $1.1 billion. Single-family dollar volume ballooned 17 percent, year-over-year, to $720 million. Condo dollar volume jumped 8 percent to $364 million.
Palm Beach County
Total home sales in Palm Beach County fell 2 percent, year-over-year, to 1,762. Single-family home sales rose 5 percent to 1,026 closings. Condo sales plunged 10 percent to 736.
Median prices for single-family homes jumped 12 percent to $615,000, and condo median prices grew 5 percent to $314,000.
Palm Beach total dollar volume hit $1.4 billion. Dollar volume for single-family homes surged 19 percent to $1 billion, and condo dollar volume climbed 12 percent to $371 million.
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