Broward County townhome, condominium prices jump 22 percent: report

The median price of existing single-family homes in Broward County rose 8.8 percent in November compared to the same period in 2011, according to a new report from the Greater Fort Lauderdale Realtors. The median sales price of townhomes and condominiums rose 22.7 percent to $92,000 in November. “The year-over-year median price increase of Broward County residential housing continues to hold steady, while the decrease in available inventory of existing homes, as well as the increasing prices of new homes driven, in part, by rising material costs provides a support base for rising existing home prices,” said Stephen McWilliams, president of GFLR. “Pending sales continued to remain stronger in November over the previous year, while home sellers were just a few percentage points shy of receiving their asking price — both indicating continued support for rising existing single-family, condominium and townhome values and the sustained recovery of the Broward County housing market.” — Alexander Britell