Median home prices in Miami-Dade and Broward counties last month fell below $300,000 for the first time since 2004.No word from the National Association of Realtors on this one.
A growing number of homes on the market, including foreclosures and properties owned by banks, plus sellers who have dropped asking prices, are contributing to the continued declines.
In April, the median price of a single-family home in Miami-Dade fell 24 percent from a year ago to $291,900 and 18 percent in Broward to $298,100. Condo prices also fell in Broward by 24 percent, to a median of $150,000. In Miami-Dade, the price ticked up 3 percent to $275,000, likely due to the sale of luxury units.
Saturday, May 24, 2008
Median home sale prices in South Florida fell to 2004 levels
Miami Herald reports:
