Broward Home Sales and Prices Up, Days on Market Down
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.
“September was a busy month for Realtors® with closed sales skyrocketing with double-digit increases. We saw 1,535 closed sales in Broward County, a massive 24.9 percent increase year-over-year. It’s safe to say that the COVID-19 pandemic hasn’t deterred buyers from purchasing homes,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.
Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next.
“Meanwhile, median sale price increased 15.6 percent, hitting $425,000. Low levels of inventory and historically low interest rates have played a huge role in the continued growth of Broward County prices. If you’ve been contemplating listing your home, now is the time to make your move. Median time on market is 21 days, a local Realtor® can help you capitalize on the high demand,” 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 over 34,000 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.