Is Broward County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$435,440
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Broward County have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Broward County was $435,440 in June 2024, up 8.8% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $180K | +5.9% |
| 2 Bedrooms | $279.5K | $296.6K | +6.1% |
| 3 Bedrooms | $469.9K | $501.4K | +6.7% |
| 4 Bedrooms | $655.7K | $697.4K | +6.4% |
| 5+ Bedrooms | $1.0M | $1.1M | +15.7% |
Summary: Broward County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Counties
| Miami-Dade County | $490.2K | $539.4K | +10.0% |
| Palm Beach County | $448.1K | $489.6K | +9.3% |
| Broward County | $400.2K | $435.4K | +8.8% |
| Collier County | $625K | $649.6K | +3.9% |
| Hendry County | $300K | $304.5K | +1.5% |
Housing Supply in Broward County, FL
How many homes are available in Broward County, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 9,601 | 10,055 | +4.7% |
Summary: The Broward County real estate market had 10,055 homes for sale in June 2024, a 4.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,410 | 1,483 | +5.2% |
| 2 Bedrooms | 3,689 | 3,907 | +5.9% |
| 3 Bedrooms | 2,611 | 2,673 | +2.4% |
| 4 Bedrooms | 1,216 | 1,286 | +5.8% |
| 5+ Bedrooms | 675 | 706 | +4.6% |
Summary: The Broward County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.2%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 4.6%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1,380 | 1,040 | -24.6% |
Asking Price vs. Sold Price
754 Homes Were Sold
Under Asking
152 Homes Were Sold
At Asking
134 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. 72.5% of homes here sold below asking price last month.
Summary: A total of 1,040 homes were sold or pending in Broward County in June 2024, down by 24.6% month-over-month. Of the 1,040 sold homes, 73% were sold under asking, 15% were sold at asking, and 13% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 43 Days | 52 Days | +20.6% |
Summary: Homes in Broward County had an average of 52 days on market in Jun 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
499 Homes Were Sold
Under 30 Days
344 Homes Were Sold
In 30 - 90 Days
197 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 June 2024, 1040 homes were sold in Broward County; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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