How's the market doing?
The numbers from the Realtor Association of the Palm Beaches and Greater Fort Lauderdale MLS are in for the month of July 2019. Sales growth in Florida and South Florida in particularly has been outpacing the rest of the country. The number of closed sales of single family homes in July of 2019 is up 11.9% over the same period last year. Condos and Townhouses are also stronger by 7.4%.
The median prices for both single family and condos rose by approximately 5%. The Miami Herald is reporting that sales growth for homes over $1,000,000 has jumped 39%. This is a sector has has been flat for while.
The inventory picture remains about the same. There is 4.2 months worth of inventory for single family homes. This favors sellers slightly. There is 5.5 months worth of inventory of condos in Broward County which means the market is balanced. It favors neither the buyer of seller.
Related:
Market Update For Broward County June 2019
3151 NE 51st St Apt 101E - Another Success Story
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