The Market Snapshot for May is out. The median sale price for single family homes is almost unchanged from a year ago. Median sales price for condos is still inching up, a 6.5% increase from last May. Inventory is higher than a year by 23.1% for single family homes and 69.5% for condos.
Something that isn't reflected in these stats are rentals. The number of available rentals in Broward County is quietly rising. Rental listings have risen almost 25% since the beginning of 2023. There are signs of weakness in the short term rental (airbnb) market too. As we move into the off season there are a lot of vacancies out there and I see many price reductions happening.
The newest listing of mine that I posted last week went pending in just 4 days. Link Here.
Subscribe to my newsletter here.
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
If You Like This Post, Please Share. Thanks!