Single-Family Homes in South Florida Become Less Popular

Year-over-year single-family home sales fell 20 percent in April as condo-townhome sales declined 26 percent in Broward County.

The Realtor Association of Greater Fort Lauderdale said 593 single-family homes sold in April, down from 746 such sales in April 2006, up 11 percent from 534 homes in March.

April condo-townhomes fell to 678 units from 923 units, year-over-year. From March, such sales rose 12 percent from 605 units as Florida mortgage demand was actually stronger a month ago.

Combined total dollar volume fell to $456.4 million, down 20 percent from $575.9 million in April 2006. The most recent number was up 7 percent, though, from $426.6 million in March.

Total volume for single-family homes in April was $292.3 million, down from $347.1 million for the same period the year before and up from $273 million the previous month.

Condo-townhouse sales totaled $164 million in April, down from $228.8 million for the same month last year, but up from March’s $153.4 million.

The median Florida home price for single-family homes was actually up 1 percent from last year, to $357,000 from $354,000, but down 5 percent from $374,700 in March.

For condo-townhomes, the most recent median of $194,500 was down 7 percent from $210,000 for the same month last year, but virtually unchanged from $195,000 in March.

RAGFL President Christine Hansen said: “We’ve simply returned to a ‘normal [Florida housing market]’ in which serious buyers and sellers continue to make deals that benefit both parties.”