The Broward County Market Snapshot is out for July 2022. Closed sales for single family homes is down 27.8% and 31.9% for condos compared to July 2021. Does this mean prices are coming down? Not yet! Sales price are up 21.2% for single family homes ad 23.3 for condos. The key statistic to watch is Months Supply of Inventory. While that number is less than 6 months we are still in a sellers market. Inventory for single family homes is up 60% from a year ago. but we still have a long way to go before ourselves in a balanced market. Remember all real estate is local. You can't apply national real estate news to what is happening here in south Florida.
Featured Properties
The Best From the MLS this Week.
1. Terra Mar Isle Estates 2/2 home a block to the beach $899,990
2. Ocean Colony Condo - 2/2 $525,000
3. Palm Aire condo - 3/2 $380,000
Real Estate News and Local Interest
- LIVE! RESORTS POMPANO: TOPGOLF VENUE, RETAIL CENTER, PUBLIX APPROVED
- Home Prices Just Dipped—Does That Mean They’re Poised To Plummet This Fall?
- Top 10 most expensive houses sold in Broward County last week
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!