Inventory, Prices on the Rise in Broward County

As Broward County focuses on affordable housing, it looks as though the area is starting to make a conscious effort to shift toward those on the lookout for a reasonable Florida home loan. It’s about time.

After all, the number of single-family homes and condominium-townhouses on the market in Broward County in April surged - prices also continued to rise. No wonder fewer houses were being bought up.

The Realtor Association of Greater Fort Lauderdale (RAGFL) said 8,838 single-family homes were available in April, more than triple the 2,327 homes on the market for the same month the year before.

The median sales price for single-family homes was, at $354,300, up 4 percent from $340,000 in April 2005.; he median sale price for condo-townhouses in April was $210,000, up 18 percent from $178,000 the same month the year before.

RAGFL President Dori Longhini said the market is changing in favor of buyers. In other words, it’s the right time to seek out a Florida home mortgage loan.

Single-family home sales were at 746 in April, down 1,093 homes for the same month the year before, while April also saw 923 condo-townhouses sold, down 30 percent from 1,321 units for the same month the year before. The Broward housing market needs to focus on ways it can attract more owners.