Exploring Broward County's Housing Market

Curious about the current state of the housing market in Broward County?

As of December 2023, the median home price in Broward County has experienced a notable 6.2% increase from the previous year, reaching $428,874. The average time a home spends on the market is now 57 days, slightly more than the 55 days recorded last year. Typically, these homes enter pending status within approximately 28 days. The median sale price per square foot in Broward County is now $299, marking a 10.3% rise compared to the previous year.

Notably, there were 2,027 homes sold in December this year, indicating a decrease from the 2,132 homes sold during the same period last year.

Also during this month, Broward County witnessed 1,004 new listings, maintaining a level comparable to 2022. The county observed a slight reduction in in-ventory, with active listings decreasing from 3,582 to 3,543 compared to the previous year. The overall dollar volume for Broward County reached $656.1 million this month, surpassing the $621.4 million recorded in 2022.

Broward existing condo sales decreased 6.31% year-over-year, from 1,094 in December 2022 to 1,025 in December 2023. The condo market has been more impacted by lack of inventory at key price points and elevated mortgage rates.