The Real Deal Miami

Broward’s median home price holds strong with 23 percent year-over-year rise

Median prices of condos rise 22 percent -- to $105K, report says
July 23, 2013 04:00PM


Fort Lauderdale (Credit: World Property Channel)

Broward County is seeing a year-over-year surge in median home prices in June, the seventh straight month of a jump of more than 20 percent, the Sun Sentinel reported.

The median price for existing single-family homes in Broward rose 23 percent year-over-year, to $265,000, the Greater Fort Lauderdale Realtors told the newspaper. Home sales increases slightly – 3 percent – to 1,356, the report said. Condominium sales fell 9 percent year-over-year, though median prices of condos rose 22 percent, to $105,000.

Meanwhile, Miami-Dade County home sales recently hit a seven-year peak. A second-quarter market report by brokerage Douglas Elliman showed sales in the greater Miami area jumped 15.4 percent to 6,416 condos, townhouses or single-family homes as prices rose 19.1 percent and inventory, particularly of distressed properties, contracted sharply compared to the same period a year ago, as previously reported.

Figures for Palm Beach County and the state have not been released due to a technical problem, the newspaper said. [Sun Sentinel]Mark Maurer