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Miami Record Median List Price in August

Miami, Fort Lauderdale record median list price increases in August

Date: Wednesday, September 19, 2012, 3:05pm EDT

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Reporter- South Florida Business Journal
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Both Miami and Fort Lauderdale recorded median list price increases on homes in August compared to the prior year, an encouraging sign as the region enters the second half of the year.

In Miami, the median list price was $275,000 a 10.44 percent rise, while Fort Lauderdale registered a median list price of $175,000, a 9.37 percent uptick.

Another sign that the residential hangover of the last decade is burning off is that the active sale inventory in both counties shrank by more than 20 percent. Palm Beach data wasn’t available from

Fort Lauderdale’s active sale inventory was at 11,263, a 21.3 percent decrease on a year-over-year basis, while Miami recorded an inventory of 10,868 residences, a 22.41 percent decrease on the prior year.

Lastly, the median age of the inventory was about the same in both counties, at just over 70 days. However, Miami’s 5.19 percent decrease on August of last year was nearly twice the decrease that Fort Lauderdale had.

On a statewide basis, Florida recorded a median sales price for detached homes of $147,000, a 5.8 percent increase on last year, and a median sales price for attached homes of $102,980, a 13.2 percent uptick.

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