Broward Housing Market Starts the Year with a Bang
Just in! January 2022 released from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year-over-year data. Here are statistics on single family homes.
“Realtors® have started the new year with a bang in Broward County. We’re already seeing signs that 2022 is going to be a consecutive year of huge gains when it comes to median sale price. In January, median sale price increased 19 percent year-over-year to $500,000. Meanwhile, median days on market dropped to a miniscule 18 days. Homes continue to fly off the market almost as soon as they are listed. Broward County is hot, and everyone wants to invest in our housing market,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie Realtors®.
Days on market is a measure of the length of the home selling process calculated for sales which closed during the month. Specifically, it measures the number of days between the initial listing for a property and the signing of the contract which eventually led to the closing of the sale.
“As northerners get through the dog days of winter, I anticipate that they will continue to seek refuge from the cold weather and explore real estate opportunities in our warm and sunny climate. It will be interesting to follow the market trends over the next couple of months and see how it compares to the success we saw in the winter of 2021. Sellers should be ready for a busy season ahead and expect to see the median sale price continue to climb,” continues Melendez.
Median sale price is our preferred summary statistic for price activity, 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.
January Market Reports: Single Family | Townhouses/Condos
Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the nation, representing over 40,000 Realtors®, 41,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.