What’s happening with housing costs in Miami and Broward? How the numbers have changed

Housing costs are rising. Sales aren’t.

Prices for single-family homes in the Miami area are now at an all-time high, according to March data. But the number of deals in Miami-Dade and Broward dropped 15% from a year ago.

Here’s a breakdown of costs and sales in South Florida:

What is the median sales price of a single-family home?

Miami-Dade County: $650,000

Broward County: $607,000

What is the median sales price of a condo?

Miami-Dade: $445,000

Broward: $288,750

MORE: Where did South Florida homebuyers go?

What were total home sales in March?

Miami-Dade: 2,141 sales, down from 2,513 sales a year ago.

Broward: 1,084, down from 3,133 a year ago.

What is the housing inventory in South Florida?

Miami-Dade: 4.3 months of houses, 8.2 months of condos

Broward: 3.9 months of houses, 7.2 months of houses.

Note: A balanced market consists of six to nine months of inventory, with anything below benefiting sellers and anything above benefiting buyers.

How many cash deals in South Florida?

Miami-Dade: 37.2% of closed deals

Broward: 42.6% of closed deals

National average: 28%