No big surprise here. When a hurricane comes to town real estate activity basically comes to a halt. Hurricane Irma came to Florida on September 11th. For 3 days before a storm no home owner policies are written, during the storm and its aftermath all is pretty much on lock down until the power gets back up in the best case scenario. Here are the details:
Residential sales decreased more than 30 percent to 1,488 closings from 2,130 the previous year. Single-family home sales fell a whopping 35.8 percent year-over-year, to 684 from 1,066; while condo sales dropped 24.4 percent to 804 from 1,064, according to the Miami Association of Realtors. Residential sales volume in the county hit $631.1 million last month.
Single-family home prices continued rising, up 6.5 percent in September to $335,000 from $314,500 last year, marking the 70th consecutive month of increasing prices. Condo prices rose 7.1 percent last month to $234,500 from $219,000 in September 2016.
The inventory of single-family homes fell 4.8 percent to 6,060, but condo inventory increased 5.2 percent to 14,834 listings.
Of course this should have a positive affect on Octobers numbers as we get back into action!