South Florida existing home sales and prices rose by double digits in July

The median price of a single-family home in Miami-Dade soared 25.7 percent in July to $230,000 from $183,000 a year earlier, according to the Miami Association of Realtors. That was the same as June’s median price of $230,000. Sales of single-family homes in Miami-Dade jumped 27.3 percent to 1,227 closings in July from 964 a year earlier. Miami-Dade single-family home sales hit their highest level in July since the peak of the boom in 2005. And that robust level of sales came despite a continued tight supply of homes listed.