Coronavirus took its toll on South Florida’s residential markets in the second quarter, with double-digit declines in Miami-Dade, Broward and Palm Beach counties.

Miami-Dade condo sales fared the worst, with sales dollar volume and closings falling by nearly half. Single-family home sales dropped by more than 30 percent in each county, year-over-year, according to the Miami Association of Realtors.

Luxury brokers have pointed to an increase in home sales in waterfront markets such as Miami Beach and Palm Beach, but those sales are in the high-end.

Miami-Dade

Residential sales in Miami-Dade declined by 39.4 percent to 4,766. Single-family home sales dropped to 2,688, a 30.3 percent year-over-year decrease, while condo sales declined by 48.1 percent, to 2,078.

Prices were still on the rise, increasing by 5.6 percent for houses to $380,000, and by 5.2 percent for condos to $262,250.

Broward County

Overall, residential sales totaled 5,827 in the second quarter, down 38.5 percent year-over-year. Single-family home sales fell 33.3 percent to 3,112. Condo sales in Broward County declined by 43.5 percent to 2,715.

Prices rose for single-family homes, increasing 5.5 percent to $385,000, and for condos, up 5.7 percent to $185,000.

Palm Beach County

In Palm Beach County, home and condo sales decreased 34.5 percent year-over-year to 6,055. Single-family home sales were down by 30.6 percent to 3,660. Condo sales declined by 40.2 percent to 2,395.

Single-family home prices increased 4.2 percent to $370,000. Condo prices rose 7.2 percent to $200,000.

(source: therealdeal.com)