Some South Florida metro areas see fastest-growing home prices in state

by Lindsey Wells

Home prices statewide were up 19.5% year over year in November, with several of South Florida’s metros seeing the fastest-growing prices in the state, according to a recent Redfin report. 

While home prices surged, the number of homes sold rose 1.7% and the number of homes for sale fell 47.2%. The median sale price of a Florida home in November was $342,900.

According to Redfin’s analysis, the Top 10 Florida metros with the fastest-growing sales prices are:

1. Coral Gables — 49.1%

2. Port Richey — 47.7%

3. Palm Beach Gardens — 45.8%

4. Sunny Isles Beach — 42.9%

5. Palmetto — 42.4%

6. Ruskin — 42.2%

7. Palm City — 41.3%

8. Longwood — 41%

9. Miramar Beach — 40%

10. West Palm Beach — 39%

“The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing,” the report noted. “They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 55,301 residential homes for sale in the United States.”

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