Broward County, FL Real Estate Market Update: Homes for Sale – May 2018

Palm in front of the house in Davie, FL
Palm in front of the house in Davie, FL

It is the end of another month, May, so we can review the real estate market in Broward County, FL during this month.

Lets look at the info table I made using the information I got from MLS REALTORS® of the Palm Beaches and Greater Fort Lauderdale. Here is the current information about homes for sale in Broward County, Fl during the month of May 2018:

Market Update_Broward County, FL homes for sale-May 2018
Market Update: Broward County, FL homes for sale-May 2018

There are 4578 single family houses available for sale in Broward County, FL and 1267 new active listings during month of May.

Houses listed at the price of $251,000-$500,000 are selling the fastest, which is 39 days. This price range also has the biggest number of active single family homes- 2056, with new homes for sale 878.

The next very popular price range group is houses listed between $501,000-$750,000. There are 971 homes for sale in this price group, and 322 of those a new listings.

Median days on the market for the houses under a million dollars are about 65 days, and median  days on the market for the houses over a million is is around 140 days.

The data used to make the chart from the MLS REALTORS® of The Palm Beaches and Greater Fort Lauderdale, which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date information about local home sales.

If you want more information about local market, please look into Local Market Conditions and Home Prices category or Market Update category.

If you are looking for a house to buy or sell, please let me know. I would like to help!

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.

Active Listings in Broward County

House for Sale Active Listings New Listings Average Median
$100,000 and Under 73 25 $71,338 $75,000
$101,000-$200,000 456 173 $166,426 $170,000
$201,000-$300,000 783 344 $257,055 $255,000
$301,000-$400,000 950 421 $356,038 $355,000
$401,000-$500,000 700 284 $451,912 $449,900
$501,000-$600,000 497 181 $556,912 $550,000
$601,000-$700,000 339 115 $661,240 $657,700
$701,000-$800,000 237 81 $762,541 $764,000
$801,000-$900,000 162 51 $864,092 $868,750
$901,000-$1,000,000 147 36 $967,052 $975,000
$1,001,000-$1,500,000 387 101 $1,259,139 $1,249,000
$1,501,000-$2,000,000 193 42 $1,778,519 $1,790,000
$2,000,000 and Above 464 69 $4,497,894 $3,395,000

Active listings in Broward County in January 2017.

How do you talk about real estate? It is by numbers. Numbers help understand it. Active listings in Broward County are 5388, and new listings are 1923. Average days on market is running at a little over 70 days for houses under a million, and over 110 days for houses over a million dollars.

The data used to make the chart from the Greater Fort Lauderdale MLS which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date data about local home sales.

If you want more information about local market, please look into Market Update or  Local Market Conditions and Home Prices categories on my blog.