Is Broward County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Broward County was a Seller's Market.
Key Takeaway
Broward County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Broward County, FL
How much do homes in Broward County, FL cost?
Median Sold Price
$427,461
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Broward County have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Broward County was $427,461 in March 2024, up 8.2% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.3K | $178.7K | +6.9% |
| 2 Bedrooms | $272.7K | $294.9K | +8.2% |
| 3 Bedrooms | $467.5K | $492.5K | +5.4% |
| 4 Bedrooms | $655.7K | $687.3K | +4.8% |
| 5+ Bedrooms | $1.0M | $1.1M | +7.3% |
Summary: Broward County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Counties
| Collier County | $532.6K | $645.8K | +21.3% |
| Miami-Dade County | $482.6K | $528.1K | +9.4% |
| Broward County | $395.1K | $427.4K | +8.2% |
| Hendry County | $288.4K | $310K | +7.5% |
| Palm Beach County | $444.6K | $476.9K | +7.3% |
Housing Supply in Broward County, FL
How many homes are available in Broward County, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8,491 | 9,551 | +12.5% |
Summary: The Broward County real estate market had 9,551 homes for sale in March 2024, a 12.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,360 | 1,555 | +14.3% |
| 2 Bedrooms | 3,286 | 3,682 | +12.1% |
| 3 Bedrooms | 2,235 | 2,506 | +12.1% |
| 4 Bedrooms | 1,035 | 1,155 | +11.6% |
| 5+ Bedrooms | 575 | 653 | +13.6% |
Summary: The Broward County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 995 | 1,081 | +8.6% |
Asking Price vs. Sold Price
765 Homes Were Sold
Under Asking
201 Homes Were Sold
At Asking
115 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Broward County, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
Summary: A total of 1,081 homes were sold or pending in Broward County in March 2024, up by 8.6% month-over-month. Of the 1,081 sold homes, 71% were sold under asking, 19% were sold at asking, and 11% were sold over asking.
Days on Market for Broward County, FL
How long does it take to sell a home in Broward County, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 53 Days | +4.5% |
Summary: Homes in Broward County had an average of 53 days on market in Mar 2024, up by 4.5% compared to last year.
Breakdown of Home Sale Times
522 Homes Were Sold
Under 30 Days
338 Homes Were Sold
In 30 - 90 Days
221 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Broward County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1081 homes were sold in Broward County; 48% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.