Broward County Home Sales Remain Steady

In the Broward County housing market, things remain relatively calm.

The median price for a single-family home in the area is down by 1 percent, year-over-year, while the price for a condominium-townhomes rose 4 percent.

Numbers from the Realtor Association of Greater Fort Lauderdale show the single-family home median price was $359,950 for October, down just $50 from September’s figure of $360,000.

The year-ago median price was $365,000. It’s a reasonable figure for anyone seeking a Florida mortgage.

October’s median price for a condo-townhome in Broward was $207,500, up 1 percent from $205,000 last month and up 4 percent from last year’s $199,000 median.

However, inventory is continuing to grow.

New listings were up 14 percent, from 7,867 to 8,963, over the month, as available inventory of both single-family homes and condo-townhouses combined rose 2.5 percent, to 24,780 from 24,179. Once again, this is good news for those considering Florida mortgage loans.

The total dollar volume of single-family home sales was up 2 percent, or $6.2 million, to $300.3 million from September’s $294.1 million. The total volume for condo-townhomes, $151.6 million, was down $1.2 million, or 1 percent, from $152.8 million the previous month.

“The bottom line is that while the temperature of the market has stabilized, South Florida is still one of the hottest real estate markets in the nation,” RAGFL President Dorine Longhini said. “It is an opportune time for both buyers and sellers to make transactions while interest rates are near record lows, inventory is solid and the market is continuing to get stronger by the month. South Florida is still a great place to live - and buy.”