Broward County’s real-estate market slowed down in September, with sales of existing homes and condos falling 4.1 percent compared with the same month a year ago.
Broward saw 1,467 existing single-family sales in September, down 3 percent from the same month in 2015, according to a monthly report released Friday by the Greater Fort Lauderdale Realtors. Year over year, existing condo decreased 5.3 percent, to 1,360 units, the report said.
Despite slowing sales, the median single-family home price was $325,000, up 12 percent from a year ago. The median condo/townhouse price was up 12.8 percent, to $150,000. The median means half the properties sold for more and half for less.
The supply of unsold homes was down for single family homes, with 3.7 months of inventory on the market, indicating a seller’s market. But for condominiums and townhouses, the supply increased 1.8 percent, to 5.8 months on the market. Inventories more than 6 months is generally considered a buyer’s market.
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The number of foreclosures of single-family homes and condos/townhouses in Broward was down 57.4 percent from a year ago.
Miami-Dade’s monthly report, which was released Thursday, also showed slowing sales, particularly for high-end properties, and rising prices for both single-family homes and condos.