The Real Deal Miami

Broward’s median home price climbed 26% in August

The rapid escalation in prices is expected to level when investors lose interest
September 20, 2013 11:00AM

Broward County beaches

Broward County beaches

Broward County’s housing market is nothing short of exuberant, according to August data from the Greater Fort Lauderdale Realtors group.

The county’s median price last month was $270,500, a 26 percent increase from a year ago. August marked the ninth straight month that the median gained by more than 20 percent.

Investor demand has helped revive Broward’s real estate market from a six-year bust, fueling a year of rapid price appreciation, the Sun-Sentinel reported.

Some industry observers say the pace is unsustainable.

Prices will level once investors have had their fill, giving more opportunities to traditional buyers, Lewis Goodkin, a South Florida housing consultant, told the newspaper.

“To me, that’s the sign of a healthy housing market,” he said. [Sun-Sentinel] Emily Schmall