MIAMI—It's officially a record. South Florida's multifamily market posted more sales than it has in eight years during the first half of 2014.

That's according to a report from the CBRE South Florida Multifamily Investment Properties team. The report tracks sales in the $1 million to $20 million range and reveals 172 multifamily sales totaling more than $515 million. That qualifies strongest sales activity for the first half of a year since 2006.

“The relatively low cost basis that we experienced in 2010 and 2011 is now a thing of the past,” says Calum Weaver, CBRE first vice president. “However, interest in multifamily properties is unabated. Investors recognize the strong market fundamentals for apartment buildings which has contributed to the uptick in sale activity.”