Welcome to this month’s month’s Broward County, Florida real estate market report. Florida has become a destination for people wanting to relocate from states that still have restrictions in place and has pushed single-family home and condo prices upward. So how much does it cost to buy a home in Broward County?
Are you ready to buy a home in Broward County, Florida? Start your search here with our easy-to-use search tool to find homes or condos by price, size, location, and more! Be sure to save your favorite properties to tour, then be sure to sign up to be notified as soon as new listings hit the market!
Are you ready to sell your home and cash in your investment? Start here by finding out how much your property may be worth by using our free home valuation tool. It is simple and quick, answer some basic questions about your property and we will provide you with a competitive market summary that will suggest a starting list price for your property.
Broward County Housing Stats
Total sales volume has increased 83.9% from last year, up from $673 million to $1.2 billion in sales volume.
The statewide median sale price was $327,000 at the end of March, up 18.9% from the previous year.
Total home sales in Broward County jumped 41.8% year over year in March 2021, up from 2,835 to 4,021. The number of single-family home sales for the same period rose 39.3% from 1,342 to 1,870.
Homes in Broward County are going under contract at a faster than at this time one year ago, in fact, 62.8% faster, shrinking from an average of 63 days on market before being sold to just 16 days.
Sellers of single-family homes are receiving approximately 98.5% of their asking price at closing, this ratio has ticked up 2.3% from 96.3% one year ago.
Transactions of single-family luxury ($1 million and up) homes surged 150%, 210 sold, compared to this time one year ago.
Broward County Condo Stats
The total dollar volume of condo sales in Broward County increased 78.6% year to year, up from $352,000,000 to $628,000,000.
Broward County’s existing condo transactions increased 44.1% from 1,493 one year ago to 2,151 at the end of March.
Luxury condo sales increased 220% to 80 transactions during the month of March.
Condos are going under contract faster as well, dropping 21.6% from 51 days to 40 days on the market before being sold.
Sellers of condos in Broward County are receiving 95.7% of their asking price at closing, up from 94.6% at the end of the previous March.
Condo inventory available to buyers in Broward County fell 30.9% year to year, from 8,109 to 5,658 at the end of last month.
What Does This Mean For Buyers In Broward County?
If you are planning to buy a home in Broward County act with the utmost urgency. The demand for homes in Broward County is outpacing demand, and as prices rise, buyers will see their purchasing power erode. Once a property is found, a buyer should have financing in place and be prepared to act quickly.
The real estate market is heating up in Broward County and there is intense competition for homes. We help buyers find a great home, submit an offer that stands out, and get you in a home quickly. Give us a call today at (954) 755-7011 to get started!
What Does This Mean For Sellers In Broward County?
The real estate market in Broward County currently favors sellers. There is only 1.6 months of single-family housing inventory available, and 4.1 months of condo inventory. Homes priced in the $400-600,000 are seeing particularly strong demand. As long as interest rates remain attractive and many people relocating to Florida, expect this trend to continue.
If you are ready to take advantage of the seller’s market and cash in your investment, we can help! We put our expertise to work for you to show off the most in-demand features of your home and market it to the most qualified of buyers! Give us a call today 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 average sale price range for Broward County. All homes here are priced at $445,000 or less.
Broward County Condo for Sale
Here are the most recent condominium listings just added to the database in the average sale price range for Broward County. All condo homes here are priced at $210,00 or less.