The Real Deal Miami

Broward residential sales, prices increase

Homes, condos in county sell faster at end of 2013
January 23, 2014 12:45PM

up arrowResidential sales and prices rose in Broward County last month, a sign buyers remain enthusiastic about the market.

Single-family home sales jumped from 1,238 in December 2012 to 1,300 last month for a gain of five percent, the Miami Herald reported. Median single-family prices climbed nearly 17 percent to $268,950 during that span.

Year-over-year condo sales in Broward declined by 1.5 percent to 1,340 closings in December. But the median condo price surged 26.2 percent to $120,000.

Homes and condos are spending slightly less time on the market before being sold. Single-family homes sold at a median rate of 31 days, down from 37 in December 2012. Condos sold in 40 days, compared with 41 days a year earlier.

Broward had a four-month supply of single-family homes up for sale and a 5.1-month supply of condos last month. [Miami Herald]Eric Kalis