Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year end data for 2018. Here are statistics on single family homes.
“Broward County is slowly transitioning from a seller’s market to a buyer’s market. This is evident when looking at the 0.6 percent decrease in closed sales and 8.4 percent decrease in closed sales paid in cash,” said Ron Lennen Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale
We continue to see substantial growth in the months' supply of inventory. The months' supply of inventory for 2018 was 4.4 which is a 22.2 percent increase compared to 2017. Broward County is moving towards 5.5 months’ supply of inventory, which is the benchmark of a balanced market.
“When it comes to listing your property, appearance is key and so is pricing to sell. If you are interested in selling, call a local Realtor® so they can help you price correctly and make your property appeal to potential buyers,” continues Lennen.
The median sale price increased 4.6 percent to $353,500 in 2018. There was also a small increase in median percent of original list price received to 96 percent.
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.