MDA Sees Miami Sales Fall 10% in August on Steady Prices
August homes sales in Miami dropped from July, but the median sales price has remained steady for three straight months, according to MDA DataQuick. There were 7,178 new and resale homes and condos sold in the Miami metro area of Miami-Dade, Palm Beach and Broward counties. That’s down 9.6% from July, but up 27.4% from August 2008. Sales have risen on a year-over-year basis for six straight months. The median price for all residential properties sold in the region was $160,000 in August, a price that’s held steady since June, but is down 34.7% from $245,000 in August 2008. The current median price is 44.8% below the peak of $290,000 in June 2007. Before May 2009, the median price had fallen on a month-to-month basis for 11 consecutive months. The share of Miami homes sold for more than $500,000 was 8.1% in August, down from 9.1% in July and 13.9% in August 2008. Write to Austin Kilgore.