The Real Deal Miami

Broward sees slight increase in home prices in January

Increase in home prices in January slowed compared to 2013 and 2014
February 23, 2015 12:00PM

Average home prices for Broward County are up so far this year.

The median price of single-family homes in the county was $265,000 — a 2 percent increase from January 2014. The county saw gains in the double digits in 2013 and 2014, but now the surge has slowed, according to a published report. 

Typically, prices rise 3 to 4 percent annually, the Sun Sentinel reported. Home sales dipped less than 1 percent in January compared to the same month last year, with 983 sales opposed to 989.

Stephen B. McWilliam, president of Florida State Realty Group in Fort Lauderdale, told the newspaper that prices should remain stable, and he doesn’t expect anything to cause a continued depreciation.

“There’s nothing occurring in the market to cause that kind of trauma,” he said to the Sun Sentinel.  [Sun Sentinel]Sean Stewart-Muniz