South Florida started off the year strong in the real estate sector, and the market is expected to continue flourishing as the spring season draws near. One specific part of the residential real estate market that saw robust growth was the market for home sales. On the contrary, the South Florida condo market saw somewhat of a dip in sales in January.
Sales of single-family houses showed sturdy growth during the month of January, while sales of condos and townhouses went in the opposite direction. The dip in the condo and townhouse arena was by a little more than 7 percent from last year. However, condo prices are still on an upswing; the media price for one condo/townhouse in South Florida increased by a little more than 5 percent, reaching over $144,000.