Broward County June'23 Market Report
Statistics for the real estate market in Broward County, Florida for the month of June 2023.
As of June 2023, Broward County is experiencing a market with 2.74 month supply of inventory. What does this mean? Well, it indicates the number of months it would take to sell all the current homes on the market, assuming no new listings are added. This figure gives us a clear indication that the market is favoring sellers as the supply is relatively low. But here's an interesting insight over the last 12 months, we've seen a significant increase of 36.32 percent in the months supply of inventory. This tells us that the market is gradually shifting towards a more balanced state, providing potential opportunities for both buyers and sellers.
Now let's talk about the list to sold price percentage. Currently, homes in Broward County are selling at an impressive 97.2% of their listing price. This indicates a strong demand on a competitive market. Where sellers have been able to negotiate favorable terms. So if you're a seller, this is great news for.
Moving on, let's discuss the median days on market. In Broward County, homes are spending a median of just 23 days on the market before they're sold. This is a clear testament to the high demand and the active buying activity in our area. Buyers need to be quick and well prepared to secure their dream home as properties are moving swiftly.
Finally, let’s talk about the median sold price in Broward County, currently the median sold price, stands at an impressive $435,000. This showcases the strong and consistent growth in our local real estate market.
Whether you're a buyer or seller, it's important to understand these trends to make informed decisions that align with your goals.
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Please see the attached file containing the Broward County Monthly Market Report for the last month of June: Broward_County_Residential_Market_Trends_-_Realtors_Property_Resource.pdf
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