Drew Dixon
The market for South Florida tri-county home sales started 2025 with a mixed bag of results, with two counties showing significant downturns while another produced an uptick in closings.
The Elliman Report, which tracks closed home sales monthly, showed two South Florida counties took a gut-punch to single-family home sales in January after a more promising December. In January, only Palm Beach County showed a positive uptick in sales, while Broward and Miami-Dade counties saw substantial drops.
Broward County had the biggest decrease in home sales in South Florida percentagewise. The home to Fort Lauderdale saw 179 houses sold last month, a sharp drop from January 2024 when there were 337 homes sold in Broward.
That’s a 46.9% decrease in year-over-year closings. January’s home sales number was also a massive drop from December’s figure of 669 homes sold.
“Newly signed contracts for single-family homes and condos fell (in Broward County) after rising annually in the prior month for the first time in more than a year. New listings growth stalled, falling year over year for the second time in three months,” Elliman analysts concluded.
January home sales in Miami-Dade County were just as bleak. There were 406 signed closing contracts last month, down from the 748 homes sold in January 2024, which amounts to a 45.7% drop in sales. It’s another steep decline from December’s figure, when 577 homes were sold.
The Elliman Report showed January single-family housing signed contract trends were upbeat for Palm Beach County. There were 398 homes sold last month, up from the January 2024 figure of 282, a 41.1% jump. The January figure is up even more over the December figure of 236 homes sold in Palm Beach.
Condo sales, which have been struggling for much of the past year in South Florida, also turned in mixed results in January. As with single-family homes sales, Broward and Miami-Dade both showed declines in condo closings, with a 45.7% drop in year-over year sales for Broward and a 36.9% decline for Miami-Dade. Palm Beach saw an 11.7% increase in condo sales last month compared to January 2024.
