Here is the market snapshot for Broward County for August 2019 and how it compares to to August of the prior year. Sales of single family homes was down 6.2% and sales of condos and townhomes was down 1.4%. This decline in volume can mostly be blamed on hurricane Dorian. It formed in the Atlantic during the last week in August and was a major disruption in the market. It passed by Florida the first week of Sept and we will probably see similar declines next month.
Median sales prices continue to rise. They were up 2.7% for Single Family homes and 6.7% for Condos. As for the inventory picture, the number of condos on the market did not change much. There was a 3% decline in the number of single family homes available for sale compared to the prior year.
There was a noticeable drop in average mortgage interest rates during August 2019. They were down from 4.07% in July to 3.81% in August. Overall we are in a healthy and balance market.
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
If You Like This Post, Please Share. Thanks!