Local Real Estate Market Update - Broward County
The August Broward County Market Update shows a continuing trend, a market favoring home sellers. Inventory levels are at a 3.8 months supply of homes for sale and condos for sale are at a 5.6 month supply. These levels are very close to last years numbers. Supply levels of 5.5 months generally indicate the real estate market is well balanced. inventory under 5.5 months indicate a market that favors seller's. when supply is over 5.5 months, the market favors buyers.
Drilling Down Deeper Into the Numbers
Condos & Townhouses
During the month of August, sales for Condos & Townhouses in Broward County totaled 1,360 sales. This number is down 10.6% from total sales in 2016. Cash sales totaled…