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Sunday, November 24, 2024

Home prices in Broward County increased

Webp brenda d forman

Brenda D. Forman, Clerk of Broward County | https://www.electbrendaforman.net/

Brenda D. Forman, Clerk of Broward County | https://www.electbrendaforman.net/

The median sale price of a home sold in the first quarter of 2024 in Broward County rose by $40,000, while total sales decreased by 8.4%, according to BlockShopper.com.

From January through March of 2024, 6,754 homes were sold in the county, with sale prices around $390,000. This is an 11.4% increase over the $350,000 median sale price during the same period in 2023, when there were 7,373 homes sold.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Broward County from January 2023 to March 2024.

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024$350,000$350,000$370,000$370,000$380,000$380,000$375,000$375,000$390,000$390,000

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