Looking for a house under $350,000? This Broward neighborhood is a winner
First-time home buyers went west — to ZIP code 33024 — in 2020, even as prices continued on a steady rise.
More single-family homes priced under $400,000 were sold in in the section of Hollywood west of the Florida Turnpike than any other area of Broward County between January and October of last year. According to data provided by the Miami Association of Realtors, that added up to 457 houses. (In Miami-Dade, Homestead led with 429.)
The two biggest lures: the neighborhood’s central location between Miami and Boca Raton, and bang for the buck, said Dee Emmanuel, a Hollywood-based Realtor for the Keyes Company.
Current listings on Realtor.com tell the story. The owners of a four bedroom, three-bath house spanning 1,530 square feet are asking $399,999. A three bedroom, one-bath fixer-upper covering 1,110 square feet is listed for $250,000. Many houses in the ZIP code come with a pool, garage and expansive backyard.
The median price for a single-family house in the 33024 was $329,000 during the third quarter 2020, below the Broward median sales price of $425,000 but up 6.1% from 2019. The neighborhood lies just north of North Perry Airport and just south of Hard Rock Casino.
“What it boils down to is what can someone afford,” Emmanuel said.
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First-time home buyers — often newlyweds and families with kids — took advantage of low interest rates and the 3.5% down payment floor that comes with a Federal Housing Administration, or FHA, loan, Emmanuel said. The FHA loan cap is $402,500 for a single-family home in Hollywood.
Across Broward’s most popular ZIP codes, prices were up — in some cases significantly. They were:
▪ 33064 in Pompano Beach, stretching from the coast to west of I-95, with 438 sales and a median sales price of $295,000, up a whopping 25.7% from the previous year
▪ 33023 in Miramar, just east of 33024, with 408 sales and a median price of $299,950, up 9.1%
▪ 33312 in Fort Lauderdale, mostly west of I-95, with 335 and a median price of $355,000, up 17.3%
▪ 33063 in Margate, with 314 sales and a median price of $330,000, up 8.4%
▪ ZIP Code 33024: Up 6.1%, from $308,931 to $329,000
▪ ZIP Code 33064: Up 25.7%, from $219,185 to $295,000
▪ ZIP Code 33023: Up 9.1%, from $272,654.55 to $299,950
▪ ZIP Code 33063: Up 8.4%, from $302,280 to $330,000
This story was originally published January 21, 2021 at 7:00 AM.
