The Real Deal Miami

Broward’s homes market sees double-digit gains

Sales volume and prices of homes and condos rose in Broward, further tightening supply

August 21, 2013 01:36PM

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Broward County beaches

Broward County beaches

The median price of a single-family home in Broward County leaped 27.9 percent to $275,000 in July from $215,000 a year earlier, according to the Greater Fort Lauderdale Realtors.

Sales of single-family homes in Broward County rose 12.9 percent to 1,475 in July from 1,307 a year earlier, the group said. Single-family sales were also up 8.7 percent over June, which included 1,356 closings.

The median price of a Broward condo rose 29.2 percent in July to $108,500 from $84,000 a year earlier, the group said. Broward condo sales rose 12.6 percent in July, to 1,525 closings from 1,354 a year earlier and were flat compared with June’s 1,355 closings.

The inventory of single-family homes on the Multiple Listing Service fell 10.3 percent in July to 4,297 while condo listings declined 7.1 percent to 5,985, according to the Greater Fort Lauderdale Realtors association.

Broward had just 3.5 months of supply of single-family homes listed for sale in July, signaling a tight, sellers’ market. — Emily Schmall

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