Market Update: Sold Homes and Condos in Broward County

Stairs. Condo Building in Fort Lauderdale, FL
Stairs. Condo building in Fort Lauderdale, FL

It is a new month again – April. It means we can look at the real estate market in Broward County for the month of March and compare it to the March 2017. Let’s see how market changed since the last year.

I did the research and used information separately for single family houses and condos sold in Broward County for the periods of March 2018 and March 2017. Once I have the sale numbers from the current year and the previous year the same periods, it is much easier to understand how real estate sales changed since the last year.

And here are the results:

HOUSES SOLD IN BROWARD- MARCH 2018

Market Update- Houses Sold in Broward,FL. March 2018
Market Update: Single family houses sold in Broward County, FL. March 2018

By comparing the housing market to the previous year same period for single family houses, we can see that that there were 1268 units sold during March 2018 and 1599 sold March 2017. There were 331 houses sold LESS this march in comparing with the same period last year. So it means it was over 20.70% decrease in sold single family homes during this March when comparing with March 2017.

The median sale price for homes increased 7.58% since the last year. It went from $330,000 last March the $355,000 this March 2018. The sold price average decreased by only 0.7%, so we can say it stayed the same.

The listing price average decreased this year too: from $455,449 March 2017 to the $448,629 this March 2018. The listing price average decreased by 1.5%. While listing price median increased by 6.64% – it went from $339,000 March 2017 to $361,500 in March 2018.

Days on the market increased from 31 in March 2017, to the days on the market 33 for March 2018. Houses were longer on the marker by for 2 days or 6.45% increase.

 

CONDOS SOLD IN BROWARD COUNTY- MARCH 2018

Market Update-Condos Sold in Broward,FL. March 2018
Market Update: condos sold in Broward County, FL. March 2018

Lets compare condos sold during March 2018 and March 2017.

There were sold 1694 condos in March 2017 and 1398 during March 2018. It was 296 condos sold this year in comparing with the same period last year, so it was a  17.47% decrease in sold condos.

The average listing price increased 15.21%. It went up from $199,743 March 2017 to the $230,130 during March 2018.

But the listing median price decreased 9.55%, when from last year March $149,250 went down to $135,000 this March 2018.

Lets look at the numbers for sold condo units: average sold price increased almost 16%. It went from $189,600 during March 2017 to the $219,860 March 2018.

While the median sold price increaded by 12.68% – it went from $142,000 March 2017 to the $160,000 during March 2018.

. The condos were selling a little bit faster this year: median days on the market were 44 for March 2018 and, and days on the market were 45 for March 2017.

 

The numbers I used to make these tables were taken from the MLS of the 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 comparative market analysis of your home.