Local Real Estate Market Update - Broward County
The overall Real Estate market report for Broward County shows the trend is still in favor of sellers, indicating a sellers real estate market. As you can see from the chart below, there is a 3.9 months supply of inventory for homes for sale and 5.9 months supply of condos for sale, slightly changed from same period last year. Experts agree that 5.5 months typically indicates a balanced Market. when inventory is less than 5.5 months of supply, it is considered a seller's market. conversely, when inventory for sale exceeds 5.5 months, it signals a buyer's market.
Drilling Down Deeper Into the Numbers
Condos & Townhouses
In the month of July, There were 1,346 total sales for Condos &…