An increase in sales prices and a decrease in closed sales and inventory are the key takeaways of
the April 2017 Broward County housing market; this according to statistics released today by the
Greater Fort Lauderdale REALTORS ® , the largest professional Broward County-based
association of licensed real estate brokers and sales associates.
Median sale prices for multifamily homes rose from $135,000 in April 2016 to $148,500 in April
2017, an increase of 10%. Median sale prices for single family homes rose from $310,000 in
April 2016 to $330,000 in April 2017, a large increase of 6.5%.
The average sale prices rose in both categories as well. The average sale price for multifamily
homes was $189,735 in April 2016 and rose to $196,509 by April 2017. This represents an
increase of 3.6%. The average sale price for single family homes was $377,965 in April 2016
and rose to $397,005 by April 2017. This represents an increase of 5%.
Closed sales were down across the board. They decreased by 2% in multifamily homes, from
1,520 in April 2016 to 1,489 last month. The number of sales paid in cash also decreased year-
over-year, from 973 in April 2016 to 919 in April 2017. This represents a decrease of 5.5%.
Closed sales were down by 4.3% in single family homes, from 1,463 in April 2016 to 1,400 last
month. The number of sales paid in cash decreased as well. These fell a significant 20.9%, from
378 in April 2016 to 299 in April 2017.
Listings for multifamily homes also decreased. The number of multifamily homes introduced to
the market fell by 8.9%. Pending inventory fell by 8.4%. Active listings fell by 9.3%. Months
supply of inventory fell by 9%.
