South Florida’s housing market rebounded in October, posting its strongest performance in months and reversing what had been a slow stretch for residential real estate across the region. According to data from the Miami Association of Realtors, total dollar volume from closed sales in Miami-Dade, Broward, and Palm Beach counties reached $4.8 billion last month, up 14 percent from $4.2 billion in October 2024.
The uptick in activity comes after a trend of cooling sales that had stretched through much of the year. October’s data showed growth across key metrics, though the condo market continued to feel the pressure of oversupply, which has dragged down prices in parts of the region.
In Miami-Dade County, total residential sales increased 7 percent year-over-year to 1,890 closings. Single-family home sales also rose 7 percent to 887, while condo transactions matched that growth with 1,003 closings. The median sale price for single-family homes in the county hit $682,000, up 2 percent from last year. Condo prices, however, declined 4 percent to a median of $400,000. Overall dollar volume in the county jumped 9 percent to $1.8 billion. Single-family homes accounted for $1.2 billion of that total, up 14 percent from last year. Condo dollar volume registered at $654 million, a 1 percent increase.
Broward County followed a similar pattern, with total home sales rising 7 percent to 2,011 closings. Single-family home sales were up 4 percent year-over-year to 1,037, and condo closings climbed 11 percent to 974. Median prices moved in the opposite direction: single-family homes dipped 1 percent to $611,250, while condos dropped 8 percent to $259,000. The county’s total dollar volume reached $1.2 billion, up 4 percent overall. Both the single-family and condo markets contributed equally with $830 million and $332 million in sales volume, respectively — each reflecting a 4 percent increase from October 2024.
Palm Beach County saw the most dramatic growth. Total home sales rose 13 percent to 2,021 closings, driven by a sharp increase in single-family transactions, which were up 19 percent to 1,253. Condo sales also edged higher by 4 percent to 768 closings. Median prices in Palm Beach moved upward: single-family homes climbed 4 percent to $643,000, and condos increased 3 percent to $315,000. The strongest gains came in dollar volume, which surged by 26 percent to $1.8 billion. Single-family homes were responsible for $1.5 billion of that total, a 33 percent year-over-year jump. Condo dollar volume grew modestly to $360 million, up 4 percent.
Though October’s numbers indicate renewed momentum, the South Florida condo market remains uneven. A growing inventory of units, especially in higher-density areas, has put pressure on pricing and could shape how the market adjusts in the coming months.
For now, the latest sales figures suggest renewed buyer activity heading into the close of 2025. Whether that momentum holds will depend on factors like interest rates, inventory levels, and the broader economic climate. But after months of sluggish movement, South Florida’s residential market is once again heating up on paper — and on the street.
