According to a report from Florida Realtors, home sales of single family homes and condominiums were up South Florida in March. There were 4,328 sales of existing single-family homes in the tri-county area in March, up 21.5 percent from a year ago. Their median sales price increased 3.9 percent to $275,000. In the condo and townhouse market, there were 4,412 sales of existing South Florida units in March, up 7.3 percent from March 2014. The median sales price grew 8.1 percent to $155,000.
“The continued fall of cash sales as a percentage of total sales suggests that demand is increasingly coming from household owner-occupants, a trend that bodes well for market stability,” Florida Realtors Chief Economist John Tuccillo said in a news release. “Days on the market are down, as is inventory, particularly at the low end of the market. This points to a potential sweet spot for home builders
