Home sales in Broward County picked back up in November after struggling in the months leading up to the U.S. presidential election.
Sales for existing single-family homes rose 6.5 percent in November compared to November 2015, according to the Greater Fort Lauderdale Realtors. Condo sales were up 3.3 percent year-over-year. (Miami-Dade County experienced a similar post-Donald Trump bump.)
Overall residential sales in Broward slumped 13 percent in October and 4.1 percent in September.
Prices rose in November, too. Median sales prices for single-family homes hit $318,000, up 9.7 percent annually. Prices for condos rose to $145,000, a 14.2 percent gain.
Inventory remains tight, with single-family homes having just a 3.7-month supply of inventory, down 11.9 percent year-over-year. That places the single-family market firmly in seller’s territory, driving up prices. Broward’s condo market is more balanced at 6.1 months of supply. A balanced market generally has between six and nine months worth inventory.