The Real Deal Miami

Broward’s residential price increases slow significantly

But county's single-family and condo sales are rising, industry group reports
November 20, 2014 12:00PM

marketdataBroward County posted a year-over-year increase in single-family and condo sales, but the trend of slowing price increases continued, according to the latest data from Greater Fort Lauderdale Realtors.

The single-family median price in Broward climbed 1.9 percent to $275,000 in October, the industry group reported, as cited by the Miami Herald. The median condo price increased 2.9 percent to $119,900. Those year-over-year price gains represent a significant decline from the double-digit percentage jumps Broward posted earlier this year and in 2013.

Single-family home transactions surged by 14.8 percent to 1,393 sales. Condo closings rose 5.3 percent to 1,441. Single-family inventory jumped from 4,822 to 6,574 year-over-year, while condo inventory increased by 24.4 percent to 8,325 units. [Miami Herald]Eric Kalis