Latest Broward County Housing Statistics Show Continued Confidence in Market Stability

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Broward County Housing Statistics, August 2014

As we see the increased inventory in the market place, there is a continued confidence in both the buyers and sellers, that they will find what they are ultimately looking for...

The rising trend of median sale prices for both single-family homes and townhouses/condominiums continued in August from those numbers one year ago, according to statistics released today by the Greater Fort Lauderdale Realtors® (GFLR), the largest professional Broward County-based association of licensed real estate brokers and sales associates. The median sale price for single-family homes is up 7% (from $271,000 in August of 2013 to $290,000 in August of 2014), while townhomes/condominiums are up 1.7% (from $118,000 to $120,000), respectively.

The number of new listings has seen mixed results in single-family homes and townhomes/condominiums, up 6.8% in single-family homes (2,192 to 2,342) and down 2.1% in townhouses/condominiums (2,408 to 2,358), bringing the months’ supply of inventory from 4.4 to 5.8 in its current state for townhomes/condominiums and from 3.6 to 5.1 for single-family homes. Those numbers represent an increase of 43.8% for single-family homes and 33.1% in townhomes/condominiums.

“As we see the increased inventory in the market place, there is a continued confidence in both the buyers and sellers that they will find what they are looking for: sellers ultimately selling for close to their original asking price and buyers finding a home worth the value they are willing to pay,” said Marnie E. Allen, e-PRO, GRI, president of the Greater Fort Lauderdale Realtors®.

The number of closed short sales for single-family homes (SFH) is down 35.4% from August of last year (229 to 148); while the number closed foreclosure sales has increased by 15.3% in the past year (157 to 181). The number of closed short sales for townhouses/condominiums is down 60.4% percent from August of last year (169 to 67); while the number closed foreclosure sales increased by 24.4% from August 2013 (225 to 280).

The total number of closed sales for existing single-family homes decreased slightly by 6.8% to 1,295 from 1,389 in August of last year. The total number of closed sales for existing townhomes/condominiums decreased by 9.1% down to 1,382 from 1,520 in August 2014. Cash sales for single-family homes decreased by 12.5%, while cash sales for townhomes/condominiums dipped by 9.7% across Broward County.

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About Greater Fort Lauderdale Realtors®
Greater Fort Lauderdale Realtors® is the largest Broward-based professional association of real estate brokers and sales associates conducting business throughout South Florida while focusing on Broward County. GFLR provides multiple listing services (MLS), educational programs, ethical guidance and other services that enable licensed real estate professionals to help people buy and sell homes in Broward County and throughout South Florida. For more information visit: http://www.r-world.com.

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Casey Angel
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