Hows The Market
First principle: Supply and demand is like a seesaw.
Seller Advantage
Low inventory creates upward pressure on values. The SELLER has the advantage. Time (meaning at least the next year or two) is on the side of the seller.
Stable Values - Balanced Market
If inventory and demand are balanced, values are normally stable. Neither buyers nor sellers have an advantage. This type of market normally doesn’t last very long.
Buyer Advantage
Low inventory creates downward pressure on values. The BUYER has the advantage. Time (meaning at least the next year or two) is on the side of the buyer.
In this type of market, most of the properties for sale are actually priced OUT of the market, and have no real chance of selling. In order to be priced IN the market, sellers in a buyer's market must price much more competitively and aggressively than their neighbors. Only the very best deals will sell.
This is the type of market most Sellers in south Florida are accustomed to. Most of the homes for sale are priced IN the market. Prices for similar properties are in a smaller range. Only those that are severely overpriced are priced OUT of the market.
Understanding YOUR specific market
Affordability is suffering in our area due to increased sale prices, high properties taxes and expensive insurance. Keep in mind, real estate is often more local than the weather. For example: it is possible to have a neighborhood of single homes next to a condominium complex. If it rains they will both get wet. However, values could be going up in one due to low inventory while values in the other are flat or going down due to high inventory, assessments, etc.
Condo's and co-ops - The condo (and co-op) market has more variables to consider than the market for single family houses or townhomes. Oceanfront locations, 55+ complexes, assessments, reserves, minimum down payments, pending lawsuits and other factors can create unique markets for individual buildings or complexes.
What is happening in YOUR market?
First, find your product in the charts below: house, townhome, or condo.
Second, find your price range to see what the conditions are in YOUR local market.
Real Estate Market Update for Broward County, Florida
Last 15 years / Averages
- Single Family Homes – average days on market and average list price to sales price ratio
- Condos – average days on market and average list price to sales price ratio
- Townhomes – average days on market and average list price to sales price ratio
- Last 15 years, all property types, all price ranges
- Average sale price for the last 15 years
- Houses average sales price
- Condo average sales price
- Townhomes average sales price
Single Family Homes
Condos
Single Family Houses
The orange columns indicate the average days on market to sell. The green line shows how much of their asking price sellers got on average, for the properties that sold.
Condos
The orange columns indicate the average days on market to sell. The green line shows how much of their asking price sellers got on average, for the properties that sold.
Townhomes and Villas
The orange columns indicate the average days on market to sell. The green line shows how much of their asking price sellers got on average, for the properties that sold.
Last 15 years, all property types, all price ranges
Average Sale price (in red) for the last 15 years
Single Family Homes, Average Sales Price in Red, Median in Blue
It should be noted that the large difference between the average asking price and the average sale price is because there are always more unsold homes in higher price ranges. This is not the difference between what most sellers list and sell for.
Condos Average Sales Price in Red, Median in Blue
Townhomes Average Sale Price in Red, Median in Blue
It should be noted that the large difference between the average asking price and the average sale price is because there are always more unsold homes in higher price ranges. This is not the difference between what most sellers list and sell for.
SINGLE-FAMILY HOUSES
Houses in Broward County, All Price Ranges
Houses $100,000 to $299,999
Houses $300,000 to $499,999
Houses $500,000 to $699,999
Houses $700,000 to $999,999
Houses $1 million to $2 million
CONDOS
Condos $100,000 to $249,999
Condos $250,000 to $349,999
Condos $350,000 to $499,999
Condos $500,000 to $749,999
Condos $750,000 to $999,999
Condos $1,000,000 to $1,999,999
Townhomes
Townhomes $100,000 to $249,999
Townhomes $250,000 to $349,999
Townhomes $350,000 to $499,999
Townhomes $500,000 to $749,999
Townhomes $700,000 to $999,999
Townhomes $1,000,000 to $1,999,999
What about a crash?
When most people hear "crash" they think of 2008. This was Broward County's real estate market in 2007 and 2008. We also had a tidal wave of foreclosures! Mortgage rates were over 6% and "No-Doc" loans were not unusual. ***This is what a REAL crash looks like.***
Current Inventory is still below 2019 pre-Covid levels
Single Family For Sale/Sold chart
Condo For Sale/Sold Chart
Testimonials
"
Amy was an absolute dream to work with. She was with with me every step of the way -- from getting the house ready for sale, pricing it, marketing it, and finding a buyer at my asking price within 48 hours of my house being placed officially on the market. Amy had my back all the away in handling the issues that arose as we headed toward closing. I can't thank her enough for her expertise, patience and support throughout the entire process.
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- Laurie Fitz
"
Amy LaBarbera was a pleasure to work with. She is totally professional and knows what she is doing. She handled everything for me and it was a perfect experience. I never had a worry. I totally recommend her service and would use her services again in a heartbeat.
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- Leslie DuBois (Homeowner )
"
Amy is one of the best Real Estate Professionals in the South Florida area. We would use her again for purchasing our next home, if we not moving out of the state. Thank you again Amy!
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- John Richey
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Amy was amazing to work with. Throughout the entire process, Amy was responsive, and gave suggestions to make the quickest and biggest impact for selling my house. I always felt that she had my best interest at heart and it wasn't just a "quick sell" to have a listing, which I greatly appreciated. Amy was a true professional and came prepared with data to help find the right price point and she consistently stayed abreast of the local market conditions to make sure we were priced accordingly. She was prepared and showed up for every meeting, did follow ups, was on time, and gave me feedback in a timely manner. Overall it was a great experience and would use her again and would recommend her to family and friends. By the end of my closing on my property, I felt like she was more like a friend than just a realtor.
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- Teresa May
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Amy is a true professional, and excellent to work with! She made a fraught process of buying our new home easy from start to finish! Amy is highly experienced, knowledgeable, and guided us every step of the way. She is a pleasure to work with, an excellent communicator, and worked to make the entire path to our new home a great experience! We highly recommend her!!
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- Helen Skinner
MIAMI ASSOCIATION OF REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The data is provided exclusively for the user's personal non-commercial use, and may not be used for any purpose other than to indentify properties that the user may be interested in purchasing or leasing. The properties displayed may not be all of the properties in the MLS's database, or
Beaches MLS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
