Broward County Rings in 2020 with Median Price & Closed Sales Soaring

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 December. Here are statistics on single family homes.

“What a way to end 2019! Closed sales increased 15.1 percent to 1,321, the highest year-over-year increase we saw in 2019. Median sale price also increased 8.6 percent to $380,000. However, there were decreases in active inventory (-16.3%) and months’ supply of inventory (-18.2%),” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.

Closed sales are typically one of the simplest – yet most important – indicators for the residential real estate market.

“With rising demand and dwindling supply, it’s a great time to list your home. A local Realtor® can help you get the most out of the current market by listing and marketing your home at an enticing price to attract local consumers,” continues Lowe. 

It’s important to remember that median sale price is our preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sales prices for small numbers of homes that may not be characteristic of the market area.

Coming soon! 2019 year end market reports for Broward County will release on February 12th.

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.