South Florida neighborhoods where home values are going upMarch 12, 2018
Data from the Florida Realtors and the Realtors Association of the Palm Beaches and Greater Fort Lauderdale broke down single-family home sales in 2017 by ZIP code. For the entire tri-country area, the median sales price increased 8.2 percent to $330,000.
See the slideshow to see which local ZIP codes had the greatest year-over-year percentage increase in median home prices. This covers only ZIP codes with at least 100 closed sales in 2017.
Of the Top 25, Miami-Dade County had 12 ZIP codes, Broward County had seven, and Palm Beach County had six. Few of the ZIP codes with large percentage gains in home values were in affluent areas. Relatively lower income neighborhoods, such as Miami Gardens, Allapattah, Hialeah and West Little River had strong growth. Only two downtown areas, one in Broward and one in Palm Beach, were in the Top 25.
On the other end of the spectrum, only three South Florida ZIP codes saw median home prices fall more than 10 percent in 2017 while having at least 100 closings.
33140, Miami Beach/Mid Beach, down 25.3 percent
33477, Jupiter, down 24.1 percent
33483, coastal Delray Beach, down 10.6 percent
All three of those are luxury markets, so that’s a reflection of a slowdown in high-end home sales.
Press Release The South Florida Business Journal