Broward Single Family Stats – January 2018
Florida Realtors has released the January 2018 stats for single family homes and the numbers are exciting for Broward county homeowners. National real estate news reports the current market is in a state of flux and riddled with uncertainty. There are a few certainties for our Broward County, single family home real estate market.
According to the most recent report, there were three fewer closed sales in January 2018 than January 2017. What may be missed by simply looking at the numbers is where those three transactions actually were. Unsurprisingly, there were 81 more traditional sales transaction that the prior year and 58 fewer foreclosure sales. Both of these numbers bode well for property owners and resulted in a 9.4% increase in median sales price year-over-year to $350,000.
To further encourage homeowner optimism is the $443.6 Million dollar volume of properties closed in the first month of the year. By comparison, January 2017 yielded $374.6 Million which is an 18.4% increase, year-over-year.
With buyers continuing to recognize the value of Broward County single family homes, analysts anticipate prices to continue the upward trend as inventory levels attempt to keep up with the demand.