The Real Deal Miami

South Florida homes aren’t selling in a day anymore

Both residential prices and sales have cooled across tri-county area
November 10, 2014 12:45PM

marketdataHome prices and sales leveled off across South Florida during the third quarter.

Broward County’s median price for existing homes from July through September was $281,500, a 3 percent year-over-year increase, according to data from the Greater Fort Lauderdale Realtors cited by the Sun-Sentinel. Meanwhile, sales increased about 1 percent to 4,117 from 4,068.

In Palm Beach County, the median price was $273,263 during the third quarter, down less than 1 percent from 2013, the Realtors Association of the Palm Beaches said. However, sales were looking a little stronger, with an 18 percent increase to 4,370 sales.

“Right now, it’s a more normal market,” said Jon Klein, an agent for Real Living 1st Choice Realty who sells in Broward and Palm Beach counties. “Homes are not moving in a day anymore, but it’s the same old story: If you price it right and market it correctly, it will sell.” [Sun-Sentinel]Christopher Cameron