How's the Market?
Right now, it all depends on your price range and your product (house vs. condo, etc.)
First principle: Supply and demand is like a seesaw.
“Sellers Win” Market
Low inventory creates upward pressure on values. The SELLER has the advantage.
“Neutral” or Balanced Market
If inventory and demand are balanced, values are normally stable. Neither buyers nor sellers have an advantage.
“Buyers Win” Market
High inventory creates downward pressure on values. The BUYER has the advantage.
New Market vs. Old Market
Condition and price are both much more of a factor in the new market than they were in the old market. (See the graph below.) Many of today’s buyer’s have a “wait and see” attitude. The buyer frenzy of the old market is over. More and more sellers are reducing their asking prices while values in most neighborhoods are either flat or going up much more slowly than they were in the old market.
Affordability in our area is suffering with high property taxes and insurance. The condo market has more variables to consider than the market for single family houses. Oceanfront locations, 55+ complexes, assessments, reserves, litigation and other factors can create unique markets for individual complexes.
More sellers are pricing themselves “out of the market”. Their properties are listed for sale, but at a price that causes the property to sit instead of causing it to sell. For additional information, please refer to our section on why some homes don’t sell.
For more exact guidance, please contact Andy directly at 954-406-3310.
Old Market
New Market
Real Estate Market Update for Broward County, Florida
All charts below are updated monthly. Select a link to jump to the corresponding chart.
Last 15 years / Averages
- Single Family Homes – average days on market and average list price to sales price ratio
- Condos, Co-ops & Townhomes – average days on market and average list price to sales price ratio
- Last 15 years, all property types, all price ranges
- Average sale price for the last 15 years
- Houses average sales price
- Condo average sales price
Single Family Houses
The orange columns indicate the average days on market to sell. The green line shows how much of their asking price sellers got on average, for the properties that sold.
Condos, Co-ops, Villas and Townhomes
The orange columns indicate the average days on market to sell. The green line shows how much of their asking price sellers got on average, for the properties that sold.
Last 15 years, all property types, all price ranges
Average Sale price (in red) for the last 15 years
Houses Average Sales Price in Red
It should be noted that the large difference between the average asking price and the average sale price is due to the extremely large number of unsold properties in the higher price ranges.
Condo Average Sale Price in Red
It should be noted that the large difference between the average asking price and the average sale price is due to the extremely large number of unsold properties in the higher price ranges.
SINGLE-FAMILY HOUSES
Houses 0 to $299,999
Houses $300,000 to $499,999
Houses $500,000 to $699,999
Houses $700,000 to $999,999
Houses $1 million to $2 million
CONDOS
Condos 0 to $249,999
Condos $250,000 to $349,999
Condos $350,000 to $499,999
Condos $500,000 to $699,999
Condos $700,000 to $999,999
Condos $1 million to $2 million
How can we help?
Do you have a question? Need more information? We can help!
Simply fill out the form and we’ll contact you with the answer, with no obligation to you. We guarantee your privacy.
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