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 August. Here are statistics on single family homes.
“After a strong month of increases in July, we saw a slight shift in the real estate market in August. Cash sales are down 23.6 percent, pushing overall closed sales down 6.2 percent. The market is fluctuating and it will be interesting to follow as we head towards the fourth quarter,” said Ron Lennen, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Cash sales decreased 23.6 percent in August to 236. The decline in cash sales played a role in the closed sales decreasing 6.2 percent to 1,436. Closed sales are one of the simplest yet most important indicators for the residential real estate market.
“On the other hand, the median sale price remained steady with a slight 2.7 percent increase for the 11th consecutive month to $369,750. For tips and advice on maneuvering through current market conditions, contact a local Realtor®,” continues Lennen.
Median sale price increased 2.7 percent to $369,750, which is $9,750 higher than what was seen in August of 2018.
Realtors® of the Palm Beaches and Greater Fort Lauderdale has merged with the South Broward Board of Realtors® to form the 3rd largest local Realtor® association in the country. The newly combined association represents 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit RapbGflrMerge.com or contact Communications@rapb.com.
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