“The latest market reports from March showed median sale price and closed sales reaching new heights. Broward County had a 14.1 percent year-over-year increase to $445,000. Despite the trend of increases in median sale price and closed sales, the housing inventory levels decreased 56.8 percent to 1.6 months.”
“With the demand for housing being at an all-time high in South Florida, we’re seeing buyer competition ramp up, which is creating the low inventory levels. As inventory levels continue to drop, South Florida builders haven taken notice to the increasing demand for housing.”
“They are finding effective ways to provide more opportunities to new and existing South Florida residents at an affordable price. New construction is a great investment option for homebuyers as South Florida continues to grow. Prospective homebuyers also get the benefit of being part of the design process and being able to build the dream home that they have envisioned.”
Quote From: Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®
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