Broward Market Reaches New Milestone, Median Price Hits $385,000
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 February. Here are statistics on single family homes.
“We’ve reached another milestone! The median sale price in Broward County has hit an all-time high at $385,000, a 10 percent increase year-over-year. It’s also worth noting that closed sales eclipsed 1,000 in February with a 7 percent rise to 1,004. The continuous growth in median sale price and closed sales should have homeowners excited,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.
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.
“Meanwhile, it will be interesting to see what role COVID-19 plays in the current state of our market. We’ll keep a close eye on the market over the next few months, and consumers should contact a local Realtor® with any questions they might have,” continues Lowe.
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.