“The holiday buying season is upon us, and homes are going under contract at a rate we haven’t seen in years! In October, the median time to contract in Broward County was 22 days, a 52.2 percent decrease from 2019. This decrease is due in part to the historically low levels of inventory. Our supply of inventory has decreased 39 percent to 2.5 months. Along with the 2020 trend of low inventory and low interest rates, Broward County saw increases in median sale price and closed sales. Closed Sales rose by 23.2 percent to 1,656 while the median sale price increased 14.6 percent to $415,000. If you have any questions on buying or selling this holiday season, be sure to contact a local Realtor® for their expertise,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.
Looking to buy or sell your home? Contact Jason Taub today – Resident Realtor® in Fort Lauderdale, Florida. Available 24/7.