As we settle into the new year, let's dive into the latest trends shaping the Broward County housing market. This month, we leverage insights from Rocket Homes data showing a market finding its footing in a new normal.
Key Takeaways
Prices
With a median sold price of, $423,678, homes in Broward County have sold for 7.4% more than they did a year ago.
Inventory
The Broward County real estate market had 9,102 homes for sale in February 2024, a 17.0% increase compared to January 2024.
Days on Market
Homes in Broward County had an average of 55 days on market in Feb 2024, up by 14.1% compared to last year.
Closed Sales
A total of 848 homes were sold or pending in Broward County in February 2024, down by 2.6% month-over-month.
Selling Competition
You may be able to get a good deal. 73.5% of homes sold below asking price last month.
Buyers or Sellers?
Broward County is a Buyers’ Housing Market, which means prices tend to be lower and homes stay on the market longer.
What does this mean for you?
Buyers
This is an exciting time! With more inventory and potentially more flexible pricing, there's a higher chance of finding your dream home.
Sellers
Be prepared to showcase the unique value of your property. Partner with a trusted real estate professional to develop a competitive strategy that attracts qualified buyers!
Remember: The market is fluid, and these are general trends. For personalized insights and expert guidance tailored to your specific needs, reach out to the trusted team at Butler Title. We're here to navigate the currents and ensure a smooth, successful transaction, no matter the market conditions.
Disclaimer: This information is based on February 2024 data from Rocket Homes and does not constitute professional financial or real estate advice. The information is provided solely for informational purposes. If you wish to obtain legal advice specific to your circumstances, please retain independent counsel of your choice.
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