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 December. Here are statistics on single family homes.
“The statistic that stands out in the December Market Report is the 22.2% increase to 4.4 months’ supply of inventory. While 4.4 months’ supply of inventory is still in favor of the seller, the market is starting to show signs of a possible shift to a more balanced market in the future,” said Jeff Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
The supply of inventory for December 2018 was 4.4 months, which is a 22.2% increase year-over-year. As we mentioned in our November 2018 Market Stats Report, we continue to see substantial growth in the months' supply of inventory. Broward County is moving towards 5.5 months’ supply of inventory, which is the benchmark of a balanced market.
“Year-over-year, there was a 2.9 percent increase in median sale price to $350,000. The information gathered in the December Market Report shows that if you are contemplating selling your home, you might want to take advantage of the current market conditions that are still favorable to the seller,” continues Levine.
We saw a $10,000 increase in median sale price in December 2018 to $350,000.
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 & the Treasure Coast. For more info, contact firstname.lastname@example.org.