Broward County Monthly Market Snapshot

“Housing inventory has increased for the second straight month in Broward County. With the federal interest rate hikes we’ve seen throughout the year, we knew this was going to play a role in shifting the market. In June, we saw inventory in Broward County increase 22.5 percent to 2,798 listings and supply of inventory rise 35.7 percent to 1.9 months. Despite more inventory entering the market, our median home price continued to increase at 18.4 percent to $590,000. However, it’s worth noting that closed sales are decreasing. Sellers who have been waiting for the opportune time to list their property should speak to a local REALTOR® now. Only a REALTOR® has the expertise to help you sell your home before the market levels off in your unique community,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie REALTORS®