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What happens to housing costs in Miami and Broward? How the numbers have changed

Housing costs are rising. Sales is not.

Prices for single-family homes in the Miami area are now at record highs, according to data from March. But the number of deals in Miami-Dade and Broward fell 15% from a year ago.

Here’s a look at costs and sales in South Florida:

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

Miami-Dade County: $650,000

Broward County: $607,000

What is the average sales price of an apartment?

Miami Dade: $445,000

Broward: $288,750

MORE: Where have South Florida homebuyers gone?

What were the total home sales in March?

Miami Dade: 2,141 sales, down from 2,513 sales a year ago.

Broward: 1,084, compared to 3,133 a year ago.

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What is the housing inventory in South Florida?

Miami Dade: 4.3 months houses, 8.2 months apartments

Broward: 3.9 months houses, 7.2 months houses.

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

How Many Cash Deals in South Florida?

Miami Dade: 37.2% of closed deals

Broward: 42.6% of closed deals

National average: 28%

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