Days on Market Increasing in Broward County

Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year-over-year data for January. Here are statistics on single family homes.

“Days on market for single family homes has increased to 63 days in Broward County. In January 2019 reports, we saw a 28.6 percent jump year-over-year. This is compared to January 2018 which only reported 49 median days on market,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.

Along with median days to contract, we also saw significant increases in active listings and months’ supply of inventory. The supply of inventory for January 2019 was 4.8 months, which is a 23.1% increase year-over-year. In active listings, we saw a 21% increase year-over-year to 6,162.

“If you are a seller, be aware that buyers do consider days on market before they make an offer. Every day counts, so pricing correctly from the start is key with the help of a local Realtor®,” continues Lennen.

We saw only a 2.9 percent increase in median sale price in January 2019 to $355,000. Meanwhile, closed sales were down 9.9 percent to 882.

Market Reports: Broward Single Family | Broward Townhouses/Condos

Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.