Is Broward County, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Broward County is a buyer's market

Buyer's
Market

Difference Since February 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

$423,678

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$29,321(+7.4%)

Key Takeaway

Homes in Broward County have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Broward County was $423,678 in February 2024, up 7.4% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $165.5K$175.9K
+6.3%
2 $269.8K$293.7K
+8.9%
3 $465K$489.6K
+5.3%
4 $659.9K$676.3K
+2.5%
5+ $1.0M$1.0M
+6.8%

Summary: Broward County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 6.8%.

Median Sold Price Compared To Nearby Counties

Collier County
+31.7%
Hendry County
+12.8%
Miami-Dade County
+8.9%
Broward County
+7.4%
Palm Beach County
+6.8%

Housing Supply in Broward County, FL

How many homes are available in Broward County, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7,7799,102+17.0%

Summary: The Broward County real estate market had 9,102 homes for sale in February 2024, a 17.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1,2391,480
+19.5%
2 3,0303,560
+17.5%
3 2,0402,344
+14.9%
4 9391,082
+15.2%
5+ 531636
+19.8%

Summary: The Broward County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 19.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
871848-2.6%

Asking Price vs. Sold Price

623 Homes Were Sold
Under Asking

133 Homes Were Sold
At Asking

92 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Broward County, you may be able to get a good deal. 73.5% of homes here sold below asking price last month.

Summary: A total of 848 homes were sold or pending in Broward County in February 2024, down by 2.6% month-over-month. Of the 848 sold homes, 73% were sold under asking, 16% 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

Feb 2023Feb 2024CHANGE
48 Days55 Days+14.1%

Summary: Homes in Broward County had an average of 55 days on market in Feb 2024, up by 14.1% compared to last year.

Breakdown of Home Sale Times

343 Homes Were Sold
Under 30 Days

348 Homes Were Sold
In 30 - 90 Days

157 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Broward County has remained consistent over time.

Summary: During February 2024, 848 homes were sold in Broward County; 40% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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