In November, South Florida experienced a notable decline in residential deals, with Miami-Dade seeing an 8% drop to 1,510 and Broward at an 11.3% drop to 1,623.
Even amidst falling deals, condo prices continue to rise in South Florida, indicating a disparity between price growth and transaction volume, signaling ongoing demand despite reduced sales.
For condos specifically, Miami-Dade recorded a 16% decrease in sales, totaling 794 transactions, while Broward's market faced an even steeper decline in sales, down nearly 19% to 819.
Residents in the Caribbean Breeze Condominium are facing increased homeowners association fees, which reflects the broader trend of rising living costs in the region, further complicating the market dynamics.
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