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 October. Here are statistics on single family homes.
“Our numbers continue to appear high this fall because our market was rebounding from Hurricane Irma this time last year. Closed sales, dollar volume, new listings, etc. These year-over-year numbers are atypical for Broward County,” said Ron Lennen, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
In the annual comparison, October housing data reported atypical double-digit increases for closed sales, dollar volume, and new listings with 10.1%, 17.0%, and 12.6%.
“Meanwhile, median home price is up 6.0% to $355,000, sellers are accepting offers around 96.0% of original list prices, and median time to contract remains below 45 days,” continues Lennen.
Median sale price is the preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sale prices. In October, half of Broward County’s home sales closed above $355,000 and half of them closed below $355,000.
The Realtors® of the Palm Beaches and Greater Fort Lauderdale is the 3rd largest local real estate association in the country. As one unified voice, RAPB + GFLR represents 30,000 Realtors®, 33,000 MLS subscribers, and 5 regional boards across South Florida and the Treasure Coast. For more information, contact firstname.lastname@example.org.