Home Prices Are Going Down

House in Fort Lauderdale, FL
Single family house in Fort Lauderdale, FL

I love data and numbers. The chart below shows data about sold single family houses sold in Broward County for the period from January 2008 to February 2017.

Lets look at the details of what we can see about historic sales price trends in Broward:

Home prices are going down in Broward County,FL
Single family homes prices are going down in Broward County, FL

January 2008 the median price of sold homes was $300,000 and the in March 2008 price went up to $310,000.

Since then, the median prices of sold homes were falling down, till they reached the bottom of $170,000 in February 2011.

If you bought a house during the begining of the year 2011 and would want to sell now in 2018, the median price of the sold homes almost double. Many of us remember the prices of homes reaching bottom in 2011. Then slowly prices started climbing up. The highest median price for sold homes in Broward County was last year, September 2017, at the price of $355,000. Since then prices were slowly going down. When finally in February 2018 median price was $335,000.

Nobody can tell what prices are going to be in the future. It only depends on the buyers and what are they willing to pay for the home.

The data is from MLS of the Palm Beaches and Greater Fort Lauderdale. It is deamed reliable but not guaranteed. The numbers include all single family homes that were sold in Broward County with the help of REALTOR®.

For more info regarding local real estate market, please look Local Market Conditions & Home Prices

If you would like to know what your home would sell for, please let me know.