Over the past few days we looked at the residential market in Broward County, now today we will add Miami-Dade and Palm Beach to the mix and see how the charts look.  Our first chart shows the median sale price for single-family homes in the tri-county area.

Here are the numbers for the month of May:

• The median sale price of a traditional house transaction was $315,000, up from $300,000 in April
• The median foreclosure sale for a single-family home was $160,000 in May, down from $161,000 in April
• The median short sale price was $185,000, down from $190,000 in April

How about the breakdown of sales by transaction type?  Let’s take a look.

Out of 4,196 closed sales in the month of may, here are the numbers:

• 3,104 sales were traditional transactions, up from 2,894 in April
• 689 were foreclosure sales, up from 655 in April
• 403 were short sales, down from 418 in April

How about the condo/townhouse market in South Florida?  Here are the sales numbers for May:

• The median sale price for traditional transactions was $172,000, up from $165,000 in April
• The median foreclosure sale price was $101,250, up from $100,000 in April
• The median short sale price was $110,000, up from $101,000 in April

There were 4,368 closed sales in the month of May in the condo/townhouse segment of the market and here is the breakdown:

• 3,332 sales, or 76% of all closings were traditional transactions
• 780 sales, or 18% of all closings were foreclosure sales
• 256 were short sales, making up 6% of all closings in May

Finally, here is a quick snapshot of all South Florida residential real estate transactions compared to the pace of monthly foreclosure filings.  In the month of May there was a total of 8,564 closed sales and 6,136 new foreclosure filings.