January 2024
Broward County Market Update
The Broward County real estate market kicked off 2025 with significant trends across both single-family homes and townhouse/condo sectors. Buyers and sellers are navigating evolving inventory levels, fluctuating sales, and price adjustments that are shaping market dynamics.
Broward County Single-Family Homes
The single-family home market in Broward County saw continued growth in January:
-
Closed Sales: 765, up 8.2% from January 2024, reflecting increased buyer activity.
-
Median Sales Price: $640,000, marking an 11% rise year-over-year, indicating sustained price appreciation.
-
Active Inventory: 5,213 homes, up 36%, giving buyers more options.
-
Months Supply of Inventory: Increased to 5.1 months from 3.7 months, pointing toward a more balanced market.
-
New Listings: 1,845, up 15%, showing that more sellers are entering the market.
-
New Pending Sales: 1,038, a modest 0.6% rise from last year.
Broward County Townhouses and Condos
The townhouse and condo market in Broward County experienced contrasting trends:
-
Closed Sales: 756, down 12% year-over-year, suggesting reduced buyer demand.
-
Median Sales Price: $272,000, a slight 1.1% decrease, offering more affordable options.
-
Active Inventory: 11,261 units, up 50%, significantly boosting buyer choices.
-
Months Supply of Inventory: Rose to 10.8 months from 6.2 months, indicating a shift towards a buyer’s market.
-
New Listings: 2,706, down 1.4%, signaling fewer new properties entering the market.
-
New Pending Sales: 998, a 19% drop, highlighting a slowdown in buyer activity.
Broward County real estate kicked off 2025 with rising inventory and shifting sales trends. Single-family homes saw price growth and increased activity, while townhouse and condo sales slowed despite more options for buyers.
