What’s happening with housing costs in Miami and Broward? Look at the changing numbers

Housing costs in Miami-Dade and Broward counties are rising. Prices for single-family homes and condos are now at an all-time high.

Here’s a breakdown of costs and sales in South Florida:

What is the median sales price of a single-family home?

Miami-Dade County: $650,000

Broward County: $625,000

What is the median sales price of a condo?

Miami-Dade: $420,000

Broward: $290,000

MORE: ‘It’s a tale of two cities’: South Florida home prices reach historic highs. Here’s why

How much did prices increase?

Miami-Dade: 17% houses, 7% condos

Broward: 12% houses, 7% condos

What is the sales breakdown by price of home?

Houses more than $500,000: Signed contracts grew year-over-year in February by 13% to 741 deals.

Houses less than $500,000: Signed contracts fell year-over-year in February by 38% to 223 deals.

What were total home sales in February?

Miami-Dade: 1,705 sales, up from 1,692 sales a year ago.

Broward: 1,817, down from 1,839 a year ago.

What is the housing inventory in South Florida?

Miami-Dade: 4.4 months of houses, 7.8 months of condos

Broward: 3.8 months of houses, 6.8 months of houses.

Note: A balanced market consists of six to nine months of inventory, with anything below benefiting sellers and anything above benefiting buyers.