Market Update: Sold Homes and Condos in Broward County, FL

Condo building in Hollywood, FL
Condo building in Hollywood, FL

Hello May! New month just started, so we can review real estate market update in Broward County, FL for the month of April 2018.

I did the research and combined information separately for single family houses and condos sold in Broward County for the periods of April 2018 and April 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:

Sold Single Family Homes – April 2018

April 2018. Market Update - Sold Homes in Broward County, FL
April 2018. Market Update – Sold single family homes in Broward County, FL

So comparing this year April housing market to the April of previous year for single family houses, we can see that that there were 1514 units sold April 2017 and 1379 sold April 2018. It was almost 9% decrease in number of sold single family homes during this April when comparing with April 2018.  The median days on the market got shorter this year – 28 days this past April and it was 30 days for the previous year. So, single family homes were selling faster this year.

The median list price increased by 9% since the last year. April 2017 list price was $334,900, and April 2018 list price was $365,000, so the price increased by $30,100.

The median sold price increased 9.55% since the last year. Median sale price for the homes sold in April 2018 was $355,000, and April 2017 price was $324,052. so the sold price median increased by $30,948.

 

Sold Condos – April 2018

April 2018. Market Update-Sold Condos in Broward County, FL
April 2018. Market Update-Sold Condos in Broward County, FL

Lets compare condos and townhomes sold during April 2018 and April 2017.  There were sold 1555 condos in April 2017 and 1550 during April 2018. So it was only 0.3% decrease in numbers of sold condos during this April when comparing with April 2017.

The median sold price increased 10.07% since the last year. The sold price April 2017 was $149,900, and April 2018 it was $165,000. So it was $15,100 increase in meadian sold price, which is 10.07 %.

Even the median listing price increased in April 2018 to 8.63% when comparing with April 2017. Median listing price in April 2018 was 170,000, and it increased from April 2017 $156,500. That was $13,500 increase in median listing price for condos.

The condos were selling faster this year : Median days on the market were 37 for April  2018, and days on the market were 44 for April 2017.

The condos were selling faster and for more money. Was it because there were less condos on the market?

 

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, FL please visit Market Update or  Local Market Conditions and Home Prices categories.