Miami saw year-over-year growth for every category of home sales during September, according to statistics released by the MIAMI Association of Realtors® and the MIAMI Southeast Florida Multiple Listing Service.

During the best sales month of the year so far, total home sales in Miami grew 5% year over year. Single-family transactions (up 7%), condo sales (up 2%), total dollar volume (up 11%) and total $1 million-plus transactions (up 20%) all also saw year-over-year increases.

Exactly 865 single-family homes and 904 condos sold in Miami during September. In particular, the affordable condo market saw a yearly surge, growing 30.3% with 159 for condos priced at $250,000 or below.

“There is a lot of pent-up demand for Miami real estate and declining mortgage rates are convincing more buyers to come off the sidelines,” MIAMI Chairman of the Board Eddie Blanco said. “New listings for condos have declined for five consecutive months and active listings aren’t growing as fast as they were earlier in the year. We know lower supply puts upward pressure on prices. The long-term data continues to reflect South Florida’s enduring appeal and strong value trajectory.”