Condominium sales in South Florida have significantly declined, with August sales dropping by double digits compared to last year. This trend has persisted in Miami-Dade and Broward counties for 11 of the past 12 months, and in Palm Beach County for 10 months. The supply of condos has surged, particularly in Broward (up 100%), Palm Beach (77%), and Miami-Dade (58%). Despite increased inventory, condo prices remain stable, while single-family home prices continue to rise, with median prices in Miami-Dade reaching $640,000.
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