South Florida home sales rocked with sluggish results in February compared to 2024

Image via Drew Dixon.

It was a rough February for two of three South Florida counties that saw sharp drops in home sales for the month in year-over-year figures.

According to The Elliman Report’s monthly home sales tracking analysis, Broward and Miami-Dade counties saw significant decreases in home sales last month compared to 2024. Broward County was hit the hardest.

In February, there was a 55.3% decrease in newly signed contracts for single-family homes. In the year-over-year comparison, Broward had 485 home sales in February 2024 and wound up with 217 last month. It was the second month in a row where year-over-year comparisons were bleak for Broward County, as January saw a 46.9% fall in home sales compared to the same month in 2024.

On a more upbeat note, Broward had an uptick in the monthly comparison. One hundred seventy-nine houses sold in Broward in January, so February saw an increase of 38 homes sold compared to the previous month.

But January is usually one of the slowest months for home sales as the market remains sluggish coming out of the holiday season.

Miami-Dade County’s year-over-year comparison of home sales was nearly as bad as Broward’s, but not quite. Miami-Dade witnessed a 45.9% decline in single-family home sales in February compared to the same month in 2024. That’s a decline from 964 homes sold a year ago to 522 last month.

That’s about the same decrease in Miami-Dade in January, when the annual comparison declined by 45.7%. For the monthly comparison, Miami-Dade did see an uptick from January’s figure of 406 homes sold.

Palm Beach was the only South Florida county to register an increase in annual home sales. That county had 438 single-family home sales contracts signed last month, an increase of 13.2% compared to the same month in 2024 when 387 homes were sold.

Palm Beach County also saw a positive sales tally for the monthly comparison. In January, 398 homes were sold there.

Condominium sales were ugly in all three South Florida counties in February, with at least a 40% drop in condo sales in the year-over-year comparison for each county.

Miami-Dade had the worst condo-sale production in February, with a 59.2% drop in sales of those units compared to February 2024. Broward came in a very close second for worst condo sales in that region of Florida, registering a 58.6% decrease compared to the same month last year. Palm Beach County had a 43.8% decline in condo sales for the year in February comparisons.