South Florida home prices continued to drop in the third quarter, spurring an increase in condominium sales, even as single-family sales slumped, a report released Thursday by the Florida Association of Realtors found.
In Miami-Dade County, condo sales jumped to 2,527 in the third quarter, up 43 percent compared to the third quarter of last year. Single-family home sales dipped slightly to 1,812, down 1 percent from last year.
In Broward County, both condo sales and single-family home sales were down in the third quarter. Condo sales totaled 2,459 for an 8 percent drop, and single-family home sales totaled 2,076, an 18 percent drop.
Median prices dropped across the board. Single-family homes in Miami-Dade was $191,100, down 1 percent. Median-priced condos cost $104,600, a decrease of 24 percent.
In Broward, condo prices were $73,100 and single-family home prices stood at $209,600, down 10 and 2 percent, respectively.
Source: http://www.miamiherald.com/2010/11/12/1921731/for-the-quarter-home-prices-fall.html
TOLUSE OLORUNNIPA
The Criscitos has been selling South Florida luxury and commercial real estate for over a decade and has sold over $1 billion dollars of property. They work as a multi-lingual team speaking english, Spanish, Italian and Portuguese. They carved out a niche as a leading boutique real estate company with two distinct divisions -residential and commercial- both personally overseeing by Marcela and Anthony Criscito.
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