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 June. Here are statistics on single family homes.
“Closed sales are down and time to contract is rising. In June, we saw a 11.2 percent drop in closed sales. Meanwhile, median time to contract rose 25.8 percent,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale and the South Broward Board of Realtors®.
There were 1,464 closed sales in June 2019 compared to last year’s 1,648. Since closed sales are affected by seasonal cycles, actual trends are more accurately represented by analyzing the year-over-year changes.
“The market is changing. If your home has been listed for a while, be open to a new comparative market analysis from your local Realtor®,” continues Lennen.
A comparative market analysis, or CMA, estimates a home's value based on the recent sales of similar real estate in the area. Reviewing comparable properties with a local Realtor® is an important part of both the selling and buying process.
Realtors® of the Palm Beaches and Greater Fort Lauderdale & South Broward Board of 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, contact firstname.lastname@example.org.