MARKET SNAPSHOT | OCTOBER 2024
Source: realtor.com | Monthly data updated on September 5, 2024 with data through August 2024.
MIAMI SINGLE-FAMILY-HOME SALES POST GAINS: CONDO $1M+ SALES RISE
Source: Miami Association of Realtors
MIAMI — Miami-Dade County single-family home sales continued its robust year and increased year-over-year as existing condominium $1M & up sales surged triple digits above pre-pandemic numbers, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Miami single-family sales have posted gains in eight of the last 10 months. Condo $1M & up transactions surged 122.2% versus pre-pandemic August 2019.
BROWARD COUNTY $1M & UP CONDO SALES SURGE VS. PRE-PANDEMIC
Source: Miami Association of Realtors
MIAMI — Broward County $1M & up condominium sales increased in August 2024 versus pre-pandemic numbers, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Broward $1M & up condo transactions increased 100% year-over-year in August 2024 versus pre-pandemic August 2019, from 13 to 26.
“The quality of life in Broward County and Fort Lauderdale real estate is unparalleled and the Fed’s first rate cut in four years will only spur more buying activity,” BROWARD-MIAMI President Venus Proffer said.
PALM BEACH COUNTY CONDOMINIUM $1M & UP TRANSACTIONS INCREASE
Source: Miami Association of Realtors
MIAMI — Palm Beach County existing condominium $1M & up transactions increased year-over-year in August 2024, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Palm Beach County $1M & up condo transactions increased 7% year-over-year in August 2024 to 60 transactions.
“Palm Beach County’s waterfront lifestyle is the driving force behind the surge in luxury condo sales,” JTHS-MIAMI President Courtney Smitheman said. “With remarkable new developments like Amrit and La Clara, coupled with the region’s rising status as a financial hub and the potential for educational expansion from Vanderbilt University, West Palm Beach is firmly establishing itself in our expanded “Wall Street of the South.
FLORIDA TOPS ALL STATES WITH THE LARGEST NUMBER OF JOB OPENINGS
Source: Miami Association of Realtors
The Bureau of Labor Statistics released state-level data on August employment and July job openings. The data shows that Florida tops all states with the largest number of job openings where there are more job openings than job seekers.By number, Texas (622,000), California (622,000), Florida (513,000), and New York (405,000) have the most job openings. However, only Florida has more job openings than job seekers (144,554 more openings than unemployed or 1.4 openings/job seeker).
