Broward single-family prices rise 13 percent

The median sales price of single-family homes in Broward County rose by 13.2 percent in July compared to the same period in 2011, according to data released today by the Greater Fort Lauderdale Realtors. The median sales price of condominiums has increased by 5 percent to $84,000 in the same period. On a month-to-month basis, however, single-family prices were flat in June and July, while condos saw a 2.2 percent decrease. “While it appears that median housing prices are declining slightly from June to July, prices are higher than a year ago, and the available housing inventory is still declining,” said Stephen McWilliam, president of the Greater Fort Lauderdale Realtors. “As long as demand for homes remains strong, housing prices will continue to increase.” — Alexander Britell