There was a 16.6% year-over-year increase in the sale of single family homes priced from $400,000 to $599,999 in Broward County in the month of December and a 40.4% increase in those over $1 million according to recently released Florida Realtors® Monthly Market Detail.
“According to the recent statistics, last year ended on a very strong note for the real estate market in Broward County,” said Ron Lennen, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. “While there was an 8.8% decrease in overall sales, we had double digit jumps of home sales in the higher priced sectors.”
The median sales price increased 6.3% to $340,000, cash transactions declined 8.8% and the median time to contract decreased 2.3% to 43 days. In addition, inventory (active listings) decreased 7.4% and the months’ supply of inventory saw no change at 3.6 months.
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Source: Florida Realtors® Monthly Market Detail – December 2017
The 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 28,000 Realtors®, 30,000 MLS subscribers, and 5 regional boards across South Florida and the Treasure Coast. For more information, visit www.rapbgflrmerge.com.