Real Estate News

Broward home sales fall in October

Home sales in Broward County fell in October in line with a general malaise in South Florida’s real estate market, but prices continued to rise.

Broward County saw 2,501 sales of existing homes in October, a 13 percent drop from October 2015. Condos and single-family homes saw roughly an equal decline. Much of the drop-off happened because fewer foreclosed homes are coming up for sale, thanks to an improved economy. But uncertainty over the election and a lack of foreign buyers also depressed sales over the summer.

The good news for sellers is that prices are still going up because of low inventory.

Median sales prices for Broward condos and townhomes hit $145,000 in October, up 12 percent year-over-year. Prices for single-family homes were $325,000, also up 12 percent.

Sales figures for Miami-Dade County will be released Tuesday.