Broward Reaches Full Year of Price Increases
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 September. Here are statistics on single family homes.
“We have officially reached a full year of price increases in Broward County. It is exciting to see this trend in our loca l market,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
The preferred summary statistic for price activity is median sale price because unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area.
“The median sale price climbed to $367,500 in September, a 5 percent increase. Closed sales also rose in September by 7.6 percent to 1,229,” continues Lennen.
Within closed sales, median percent of original list price received increased slightly by 0.6 percent to 96.2 percent. The median days to contract was 46 days, a 17.9 percent increase year-over-year.
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.