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 February. Here are statistics on single family homes.
“In Broward County we saw for the third consecutive month a decrease in year-over-year closed sales. This is a trend that is worth examining over the next couple of months,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Despite seeing a decrease in closed sales, there was an increase in median sale price to $350,000. This is a 4.5 percent jump from what we saw in February of 2018 with $335,000. The median days to contract also increased 27.3 percent to 56 days.
“On the other hand, we saw quite a jump in months’ supply of inventory and active listings in single family homes. Active listings increased by 16.5 percent and months’ supply of inventory increased by 20 percent year-over-year. Broward County is currently transitioning into a buyers’ market, so now would be a great time to list your home with a local Realtor®,” continues Lennen.
The supply of inventory for February 2019 was 4.8 months, which is a 20 percent increase year-over-year from the 4.0 months in February 2018. In active listings, we saw a 16.5% increase year-over-year to 6,145.
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.