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Home sales down, condo prices down

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Amid an ongoing housing market slowdown, home sales were down across South Florida in July.



Single-family home prices held steady but condominium prices in Miami-Dade weakened, dropping 11 percent in July compared to the same period a year ago.



The median price of a house is now $382,200 in Miami-Dade and $380,400 in Broward, according to July existing home sales numbers released Wednesday by the Florida Association of Realtors.



That amounts to a 5 percent gain in Miami-Dade compared to a year ago and a 1 percent improvement from June. Broward was down 1 percent compared to last year and flat compared to June.



Condo prices showed less strength. Broward was a mixed bag, with the July median price coming in at $209,100 -- a 1.5 percent drop compared to June but an improvement of 4 percent compared to July of last year.



Yet Miami-Dade median condo prices were down across the board. Condo prices dropped to $252,200, down 2 percent from June and 11 percent from 12 months ago. In Broward condo prices were down 1.5 percent compared to June but up 4 percent compared to July last year.



Miami Herald - By MATTHEW HAGGMAN - Wed, Aug. 23, 2006