Broward’s median home price hits post-2008 peak

Miami /
Aug.August 23, 2015 09:00 AM

The Realtors organization reported that the median sale price of an existing single-family home in Broward County was $312,000 in July, 10 percent higher than a year earlier and the highest level since 2008.

The number of sales of existing single-family homes in Broward totaled 1,683 in July, an 11 percent increase from July 2014.

The Realtors also reported that the median sale price of existing single-family homes in Palm Beach County was 289,250 in July, up 3 percent from the same month last year.

The number of sales in Palm Beach County increased to 1,810 in July from 1,515 a year earlier, a 20 percent increase.

“It’s a seller’s market,” according to Wendy Newman-Scheppke, a real estate agent covering Broward and Palm Beach County. “Sellers are asking for what they need versus what the value is.”

In both Broward and Palm Beach, however, there were fewer single-family home sales in July than in June, and the unsold inventory shrank.

The number of homes listed for sale at the end of July was 6,233 in Broward, slightly fewer than a year earlier, and 6,761 in Palm Beach County, down 7 percent from the end of July 2014.

“We’re not in any great danger of a runaway market because mortgages are still difficult to get for most households,” said John Tucillo, chief economist of Florida Realtors. [Sun Sentinel] – Mike Seemuth


Related Articles

arrow_forward_ios
Attorney sells oceanfront Delray Beach mansion for $34M
Attorney sells oceanfront Delray Beach mansion for $34M
Attorney sells oceanfront Delray Beach mansion for $34M
Los Angeles Chargers defensive end Joey Bosa buys a waterfront Fort Lauderdale house for $6M (Daniel Petroni Photography, Getty)
$6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale home
$6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale home
TA Realty sells Palm Beach Gardens office building for $17M
TA Realty sells Palm Beach Gardens office building for $17M
TA Realty sells Palm Beach Gardens office building for $17M
Encore Capital’s Art Falcone and Vision Properties’ Fred Arena with 61 North University Drive in Plantation (Rescore, LoopNet)
Art Falcone’s Encore Capital sells Plantation Walk office building for $58M
Art Falcone’s Encore Capital sells Plantation Walk office building for $58M
JB Capital co-principals Jessica Giguere and Ben Karp with the retail center (Atlantic Retail, JB Capital)
JB Capital and partner pay $26M for Fresh Market-anchored Jupiter retail center
JB Capital and partner pay $26M for Fresh Market-anchored Jupiter retail center
Rockpoint, InSite buy B Ocean Resort Fort Lauderdale for $127M
Rockpoint, InSite buy B Ocean Resort Fort Lauderdale for $127M
Rockpoint, InSite buy B Ocean Resort Fort Lauderdale for $127M
Forte Capital Management buys Hollywood medical offices for $11M
Forte Capital Management buys Hollywood medical offices for $11M
Forte Capital Management buys Hollywood medical offices for $11M
Boston Bruins co-owner buys Wellington equestrian estate for $11M
Boston Bruins co-owner buys Wellington equestrian estate for $11M
Boston Bruins co-owner buys Wellington equestrian estate for $11M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...