Fort Lauderdale Market Update | Broward County October 2018

Posted by John Sabia on Monday, December 10th, 2018 at 12:25pm.

The numbers are in for the Broward County Real Estate Market Update for October 2018:

Single Family Homes

The number of closed sales for Single Family Homes in October 2018 for Broward County Florida was up by 121 sales (10.1%) with 38 more registered as cash sales (15.1%) as compared to same period last year. The Median Sales Price was up by $20,000 (6.0%) and Median Days To Contract was just one day more. The total inventory for homes for sale was higher by 795 more properties (15.6%). The total months supply was up by slightly at 4 1/2 months which is still below 6 months, which most experts agree is the base line for a balanced real estate market. The 4.5 months indicates that it is still a seller's market.

Condos & Townhouses

The number of Closed Sales for Condominiums & Townhouses in October was up by 246 sales (20%) as compared to October 2017, with 147 more sales registered as all cash transactions (22.9%). The Median Sales Price was up by $2,000 (1.3%) and Median Days To Contract was 11 days shorter (-19%). The total inventor in October for condos for sale, was 328 more properties (4.3%). The total months supply was down slightly at 5.6 months which indicates a more balanced market.

Broward County Market Update Snapshot

photo - broward county market update October 2018 | johnsabia.com/blog

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John Sabia

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