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N MIAMI CONDO NEWS — All About Condo Living in the Magic City — Edited by Heinz Dinter, PhD |
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Housing sales down, prices mixed for January (2007-02-27) The South Florida housing market started the new year as it finished the old: moving slowly. Sales were down and prices mixed in January, according to figures released Tuesday by the Florida Association of Realtors. The outsized number of unsold homes also grew even bigger, indicating there still is a ways to go before the market rights itself. The median price of a single-family home in Miami-Dade home rose to $395,900 in January, up 5 percent from the same period a year ago and up 4 percent from December. But in Broward the median single-family home price was $364,500, a 2 percent drop from last year and flat from December. For condos the January median price in Miami-Dade was $256,400, one percent down from last year and 22 percent off December’s results. In Broward a median-priced condo sold for $199,200, a six percent decline from January 2006 and virtually the same as in December. But the lack of sales continued to be the market’s biggest obstacle. Sales of houses and condos were down on both a monthly and yearly basis. Condo sales were off 27 percent in Miami-Dade and 26 percent in Broward, compared with a year earlier. Single-family house sales were down 17 percent in Broward and nine percent in Miami-Dade when compared with January 2006. Source: www.MiamiHerald.com • Matthew Haggman, mhaggman@MiamiHerald.com
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