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By Manny & Michelle Huertas
Hey there, savvy homebuyers and sellers!
Today, we're diving into the bustling real estate market of Broward County, where condo and home prices are on the rise, defying national trends. If you're considering buying or selling property in this thriving area, this blog is for you.
As you may have heard, US median home prices are down year-over-year for the first time in 11 years. However, Broward County is bucking the trend, with median home prices up a solid 8.3% year-over-year. So, what's behind this thriving local market, and how can you capitalize on it? Let's break it down.
1. Don't let the national housing data fool you. Yes, median home prices across the US are down by around 1% right now, but they've actually risen in the last 30 days from $345K to $353K. The media might be scaring people, but the market is far from weak. The national data is worth watching, but it doesn't dictate local trends. Broward County's housing market is clearly on the upswing.
2. Every market is local. This is crucial to remember when navigating the real estate world. National housing data doesn't always reflect local markets, as evidenced by Broward County's booming prices. In fact, prices haven't come close to dipping into the negative territory here, making it an excellent time to buy or sell.
With the spring market in full swing, our team is writing offers and selling properties every day of the week. So if you're thinking about diving into the Broward County real estate market, now's the time to act.
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Recent Broward County Housing Market Stats:
- Average sale price: $387K, up 7.4% since last year
- Average sale price per square foot: $280, up 8.1% since last year
- Median sale price: $390,000, up 8.3% year-over-year
- Median days on market: 63, compared to 47 days last year
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Broward County's real estate market is on fire, with prices steadily rising despite the national dip. If you're considering buying or selling a property in this flourishing market, don't hesitate to reach out. Interview us for the job, and let us know if there's anything in the world🌎 we can do for you!
Call us today or log in/sign up on our website to explore the hottest properties in Broward County.
Your dream home or investment property awaits!
Sources: ¹ Redfin calculations of home data from MLS and/or public records.