Median Sale Price in Broward County Reaches Highest in Decade

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 May. Here are statistics on single family homes.

“Looking at Broward County’s market stats for May, there are increases in nearly every category. It’s also worth noting that this is the third month in a row that we have seen an increase in closed sales,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale and the South Broward Board of Realtors®.

Broward County closed sales increased 9.4 percent to 1,661. Closed sales are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes, rather than changes from one month to the next.

“The median sale price was $370,000, the highest Broward County has seen in a decade! Investing in a Broward County single-family home in the current market conditions could be a profitable decision as home values continue to rise across the county. If you are interested in learning more about the current market conditions, contact a local Realtor® for guidance,” continues Lennen. 

The median sale price increased 4.2 percent to $370,000. This is $15,000 more than May of 2018. The months’ supply of inventory also saw an increase of 7.3 percent to 4.4 months.

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.