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Good news or bad? Florida home sales surge but prices drop

South Florida's veritable flea market of cheap homes and condos drew hundreds of new buyers into the housing market in February, driving a significant surge in sales, according to numbers released Monday by the Florida Association of Realtors.

Prices remained in a free fall, however, pushing more homeowners underwater and placing more in jeopardy of foreclosure amid a weakening economy.

In Miami-Dade, sales of single-family homes rose 68 percent compared to a year ago. Condo sales were up 71 percent. In Broward, single-family home sales were up 39 percent. Condo sales rose by 27 percent.

The median house price in Miami-Dade fell 36 percent last month to $195,500; the median condo price plunged by 50 percent to $146,100.

In Broward, the median single-family home price was down 30 percent to $214,400; the median condo price was down 39 percent to $85,800.

Read the full story at MiamiHerald.com

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