South Florida single-family home sales for November saw some notable improvement in the year-over-year comparisons while Miami-Dade County is still lagging in the back of the pack.
The monthly analysis of the three coastal counties from the Elliman Report in South Florida was released in the past week and it shows solid property sales in Palm Beach and Broward counties. Both of those counties showed notable upticks in signed contracts on single-family home closings last month with Broward leading the way.
There were 387 homes sold in Broward in November. That’s a 98.5% jump in closing contracts over November 2024 when there 195 houses sold. While the annual comparison is upbeat, Broward saw a slight downturn in monthly sales. There were 466 homes sold in October, accounting for an 18.52% decrease in the monthly sales.
“All property types showed a combined annual gain in new signed contracts for the third time (this year), with outsized annual increases observed in both property types” of homes and condominiums, Elliman real estate analysts concluded about Broward property sales. “New listings across all property types combined have increased annually at a rising rate for the past three months. The number of new contracts signed above the $1 million threshold has shown annual growth for the sixth time in seven months.”
Palm Beach County also witnessed an increase in annual home sales. But it was more modest than Broward with 321 single-family contracts signed in November. That’s a 27.9% hike over November 2024 when there were 251 closings. But the monthly sales were down in Palm Beach County, too. There were 347 closings in October meaning November’s sales posed a 7.49% drop on the monthly ledger.
Miami-Dade is still struggling in home sales, though, as the county has lagged behind its northern neighbors for most of the year. There were 406 home closings in Miami-Dade in November, a 30.6% decline from November 2024 when there were 585. The monthly comparison was also off for Miami-Dade as there were 487 homes sold in October, representing a 16.63% drop in sales.
Condominium sales, which have been struggling in much of South Florida this year, showed some improvement. There were 354 condos sold in Broward in November, a 41.6% jump from a year ago. Palm Beach posted 309 condo sales last month, a 33.2% increase from November 2024. Miami-Dade was the only South Florida county with a dip in condo sales with 406 closings in November, a 30.6% decline from a year ago.
