Broward Realtor® Unity Overcomes Pandemic in 2020, New Record Highs
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 2020. Here are statistics on single family homes.
“2020 was a heavy year for everyone. Despite being impacted by COVID-19 and facing uncertain challenges, we got to see how resilient our real estate market is. Realtors® came together, adapted to the new normal, and found innovative ways to sell homes in South Florida and the Treasure Coast. Whether through virtual open houses or socially distanced showings, Realtors® helped solidify our community as one of the nation’s top real estate hotspots,” said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.
“In Broward County, homes were flying off the market at a rapid pace with median days on market dropping to only 32 days. We also saw increases in closed sales and original list price received. Meanwhile, median sale price hit a new record high rising 9.6% year-over-year to $400,000. Year-end reports were impressive to say the least – the sheer number of buyers and sellers that Realtors® were able to help was astounding,” continues Johnson.
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.
“Our housing market’s outlook for the future is promising! Recent migration data by moving van lines show that in 2020, more northerners headed south in order to call Florida home. As more people move to South Florida and the Treasure Coast, rest assured that Broward, Palm Beaches & St. Lucie Realtors® will be here to help them find their dream home,” continues Johnson.
Florida continues to attract new residents as more people opt to leave heavily populated northern cities for Florida’s sandy beaches. The lower cost of living and the momentous rise of national housing prices are drawing people of all generations to South Florida. For migration data, visit our blog story at http://bit.ly/3cRoYPg
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 over 35,000 Realtors®, 36,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.