Summary of Monthly Market Detail of Single Family Homes in Broward County for January 2015, provided originally by the Greater Fort Lauderdale REALTORS®.
Recently, the attorneys at Khani & Auerbach had the privilege of attending an industry meeting where they heard a representative from the Greater Fort Lauderdale REALTORS® group provide some insight on real estate changes in the Single Family Home market in Broward County. The changes were not significant, but definitely indicate a return to a healthy real estate market in South Florida.
While closed sales, cash transactions, new pending sales, average percent of original list price received and pending inventory have decreased from January 2014, there are some great statistics for Single Family Homes in Broward County that have increased. New listings, median sales price, average sales price, active listings (inventory) and months supply of inventory have all increased. Among the good news, the bad news is that the median days on the market have also increased by 28.9% since January 2014, up from 38 days to 49 days.
So, of all these statistics, you might be most interested to know 2 figures, Median Sales Price and Average Sales Price. The Median Sales Price for January 2015 was $265,000 (up 1.9% from January 2014) and the Average Sales Price is $342,106 (Up 1.1% from January 2014).
Overall, these indicators are a sign that the market is rebounding in a very healthy way, without too much decrease or increase in a short amount of time. The next data release from the Greater Fort Lauderdale REALTORS® is expected in on March 23, 2015.