Median Price Reaches Record High in Broward, $390,000
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 March. Here are statistics on single family homes.
“Broward County median price just reached another record high! In March, the median price increased 6.8 percent year-over-year to $390,000, a new milestone. This tops the previous high of $385,000 that we saw in February of 2020,” 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.
“While there were positive statistics in March, I don’t want to overlook the impact COVID-19 will have on our market in the coming months. It's important for buyers and sellers to reach out to a local Realtor® to discuss essential real estate needs. Innovative practices, such as virtual open houses and virtual showings, are great ways for buyers to browse properties safely and Realtors® to show them in real time,” 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.