Drew Dixon
Home sales in Broward and Miami-Dade counties showed a notable drop in June compared to a year ago.
The latest “Elliman Report” shows Miami-Dade County had a sharp decline. The county saw 431 homes sold last month. That’s a 45% decline from June 2024, when there were 784 closings.
It’s the second month in a row with a sharp year-to-year drop in home sales in Miami-Dade. The May figures showed a 45.6% decline in the year-over-year comparison, with 482 new signed contracts on homes.
Elliman Report analysts said Miami-Dade hasn’t been able to shake that trend this year.
“Newly signed contracts for single family homes and condos have been declining year over year since the start of the year” in Miami-Dade, the report concluded.
Broward County also saw a drop in June home sales when compared to the same month in 2024, though not as dramatic as Miami-Dade. There were 395 new signed contracts in Broward in June, a 5.3% decline from the June 2024 figure of 417 closings.
Broward sales also dropped month to month, as there were 431 signings in May. That was actually a slight increase compared to sales in May of last year.
Palm Beach County was the only South Florida county to see an uptick in sales in June in the year-over-year metric. There were 328 signed closings in Palm Beach last month, a 20.1% jump from June 2024, when there were 273 single-family units sold.
But Palm Beach saw a dip in sales in the month-over-month comparison, as there were 359 signed contracts in May.
Condo sales in South Florida continue to struggle. That market has been sluggish this year with the exception of Palm Beach County, which saw a 21.7% jump in June when compared to June 2024. There were 297 condos sold in June in Palm Beach, up over the June 2024 figure of 244.
Miami-Dade, though, was just as slow in condo sales as it was in single-family home transactions in June. There were 433 condos sold last month, down by 49.9% from June 2024, when 865 condos sold.
Broward County recorded 411 condo sales last month, down by one from the 412 condos sold in June 2024.
