Median prices, inventory levels rise in county last month February 21, 2014 10:30AM
In a sign that 2014 could indeed be the year when the resurgent housing market cools off, Broward County posted a decline in residential sales last month.
Single-family home sales dropped 4.3 percent in Broward to 989 in January, the Miami Herald reported, citing figures from Greater Fort Lauderdale Realtors. Condo sales fell 4.5 percent to 1,132. The median single-family sale price jumped 16 percent to $260,000, while the median condo price surged 23.8 percent to $117,500.
Greater Fort Lauderdale Realtors president Marnie Allen dismissed the sales drop-off as a “minor adjustment that is typical of previous Januarys” after homebuyers scramble to close purchases by the end of a calendar year.
An increase in for-sale inventory could slow down the pricing gains, however. Single-family inventory in Broward rose 18.3 percent in January, while condo inventory jumped 19.6 percent. [Miami Herald] — Eric Kalis