Market Update: Sold Homes and Condos in Broward County

Market Update Broward County. Feb 2018
Market Update: Broward County.February 2018

Hello March! New month started, so we can review the previous month’s real estate sales in Broward County, FL.

I did the research and put together information separately for single family houses and condos sold in Broward County for the periods of February 2018 and February 2017.

Once I have the sale numbers from the current year and the previous year for the same periods, we can understand how real estate sales changed since the last year.

The results are here:

Sold Houses:

 

SHF sold in Broward Feb 2018
Market Update: Houses sold in Broward County,FL. Source:RAPB & GFLR, MLS of the Palm Beaches and Greater Fort Lauderdale.

We can compare the housing market now to the housing market that was for the previous year same period. We can see that that there were 1085 units sold February 2017 and 1052 sold February 2018. It was over 3% decrease in sold single family homes during this February when comparing with February 2017. The median sale price for homes increased 11.5% since the last year. Even the median list price increased by 11.6% Days on the market were 32 for February 2018, and 38 for February 2017. So, the homes sold much faster this year to compare with the last year- at almost 16% faster!

The single family house price increased by 11% since the last year. Do you think it was because less houses there were for sale?

Sold Condos:

Condos sold in Broward.Feb 2018
Market Update: Condos Sold in Broward County,FL. Source:RAPB & GFLR, MLS of the Palm Beaches and Greater Fort Lauderdale.

Lets compare condos sold during February 2018 and February 2017.  There were sold 1074 condos in February 2018 and 1267 during February 2017. So it was a  15.23% decrease in sold condos. The median sold price was $159,000 for February 2018, and $145,000 for February 2017, so it increased almost 9.7% since the last year. Even the median listing price increased 18% to compare with the same period 2016- it went from $195,678 in Februay 2017 to $231,152 February 2018. The condos were selling faster this year too: Median days on the market were 47 for this past february, and days on the market were 49 for February 2017. It decreased by 4%.

The condos were selling faster and for more money to compare with the same period last year. Was it because there were less condos for sale ?

The numbers I used to make this table were taken from the MLS fo Palm Beaches & Greater Fort Lauderdale. These numbers are said to be reliable but are not guaranteed.

If you are interested in more information about home sales in Broward County, please visit Local Market Conditions and Home Prices category.

If you have any questions about local real estate market, please let me know. Do you own a house and are you thinking of selling it? Let me know, so I can do a current market value for your home and do a CMA. If you are looking to buy a hme, please let me know so I can help you to find it.