Property owners get a free estimate

Owners & Investors call (239) 920 8799

Home prices in Miami-Dade and Broward continue to increase

South Florida home prices continue to appreciate in both Broward and Miami-Dade counties. In Miami-

Dade, the average sales price for existing single-family homes for this April is $285,000. It is 9.5% more

expensive compared to April 2015. The average price for single-family homes for April 2015 was


Miami property management stated that although there is an increase of new condo units on the

market, the average sales price for existing condominiums increased by 8%. In April 2015, the average

price was $199,000 but for April 2016, the average price was $215,000.

For both counties, the demand for homes priced below $400,000 remain strong, while there are new

condominiums on the market, the construction of single family homes is scarce.

For homes priced above a million dollars, the market has slowed down. Economists believe that the

slowdown is caused by increased dollar value and economic volatility. Majority of the buyers who

purchase homes beyond a million dollars are international buyer and the volatility of the stock market

has made them cautious.

Meanwhile in Broward County, the prices of existing homes continue to rise, a single-family home costs

$310,000 from $287,900. The average price for condominiums for April 2016 is $126,950; 6.3% higher

compared to last year.

« « Previous Article| Next Article » »