Welcome to this month’s Broward County real estate market report for December 2020. The Covid-19 situation has accelerated buying and selling trends in Broward County. To find out more how Covid has affected the real estate market in Broward County read this helpful report.
Are you ready to buy your first, second, or third home? We can help! Start your search here by using our home search tool to find properties by price, size, or location. Make sure to save your favorites and get signed up to be notified as soon as new matching properties become available.
Do you need to sell your home or condo? Let us help with that. Begin by finding out your home’s market potential by using our free home valuation tool. Answer some basic questions about your home, then will provide you an estimate of what your home might sell for. Give us a call at (954) 755-7011 today and we would be happy to answer all your questions!
Broward County Housing Stats
The statewide median sales price for single family existing homes in Florida rose 13.2% to $299,900 compared to one year ago.
At the current pace of sales in Broward County, Florida, there is approximately 2.6 months of single-family home inventory available, favoring a sellers market. The amount of single family home inventory dropped 39.3% from 5,330 one year ago to 3,234 at the end of 3rd quarter.
For condos in Florida, the statewide sales price for condos at the end of the 3rd quarter was $215,000, up 13.2% from one year ago.
There is approximately 6.5 months of supply of condos available to buyers in Broward County, representing a balanced market. Condo supply increased year to year up from 7,655 to 7,784.
At the end of the 3rd quarter, the median percent of list price received by sellers of existing single family homes was 97.0%. The median for sellers of condos during this same period was 95%.
The median number of days on the market before a single family home sold was 27 days, a decrease from 44 days this time last year.
Condos in Broward County were on the market for a median of 52 days, down only slightly from 53 days during 3rd quarter 2019.
What Does This Mean For Buyers In Broward County?
Buyers should expect a competitive market in Broward County as we head into the winter season. As buyer preferences shift and families relocate to Florida, demand for single family homes is outpacing supply and putting upward pressure on prices.
Buyers should be decisive and ready to act when a property is found. Buyers who can make their offer stand out are at an advantage over everyone else. Give us a call today at (954) 755-7011 and we can show you how we help buyers in this competitive real estate market.
What Does This Mean For Sellers In Broward County?
If you are ready to cash in your investment in your home, now is a good time to sell. As the Covid situation has created an influx of buyers to Broward County. With prices trending upward and low-interest rates enticing buyers, single-family homes are in great demand.
Sellers should know their home’s worth, and have an agent on their side who understands the market and knows what it takes to market and sell your home. We work to price your home competitively and market it to the most qualified of buyers. Give us a call at (954) 755-7011 to get started!
Broward County Homes for Sale
Here are the most recent single-home listings just added to the database in the median sale price range for Broward County. All homes here are priced at $413,500 or less.
Broward County Condo for Sale
Here are the most recent condominium listings just added to the database in the median sale price range for Broward County. All condo homes here are priced at $197,750 or less.