BY MARTHA BRANNIGAN
MIAMIHERALD.COM
Amid strong sales, South Florida home prices are still making solid gains — although the rate is slowing.
The median price of a single-family home in Broward County rose 16.9 percent to $268,950 in December from $230,000 a year earlier. It was essentially flat with November.
Sales of single-family homes in Broward rose 5 percent to 1,300 closings from 1,238 in December 2012 and were up 20.8 percent from November, the Greater Fort Lauderdale Realtors said.
The median price of a Broward condominium jumped 26.2 percent to $120,000 from $95,100 a year earlier and was up 2.6 percent from November, the Greater Fort Lauderdale Realtors said. Condo sales in Broward slipped 1.5 percent to 1,340 closings in December from 1,361 a year earlier. Sales increased 11. 1 percent from the prior month.
“The moderate supply of inventory, continued leveling of the number of homes coming on the market and a slight moderation in housing prices indicates that Broward County ended 2013 with a stable housing market,” Marnie E. Allen, president of the Greater Fort Lauderdale Realtors, said in a statement.
The sharp rise in home prices over the past couple years has encouraged more owners to put their properties on the market. The inventory of single-family homes increased 16 percent year over year and the number of condos listed with the Multiple Listing Service expanded 18.9 percent from December 2012.
Homebuyers’ enthusiasm remained strong in Broward in December: Single-family homes were sold at a median pace of 31 days, down from 37 a year earlier, and condos went at a median of 40 days, down from 41 a year earlier.
With strong demand, Broward had just a 4-month supply of single-family homes listed for sale and a 5.1-month supply of condos in December. That signals it’s still a seller’s market, where sellers have the upper hand to stand firm on prices. Single-family homes fetched 95.2 percent of their original asking price and condos reaped 94.2 percent, the Realtors group said.
No comments:
Post a Comment