Below you will find the statistics showing real estate market conditions for Single Family Homes sold for $1 million to $5 million in Broward County, Florida during the month of March 2023.
We are starting to see median prices and new listings moving up. This may be the beginning of a slight comeback of the market. It might be with interest rates leveling off we may see buyers coming back to the market.
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Median Sale Price
We had a bit of a pull back this month with the median sale price dropping 7.9% over last year.
Closed Sales
Big jump this month for month over month closed sales with a 45.3% increase. However, it is still a 28.6% drop over last year.
New Listings
New listings climbed back a bit with a 20.9% increase over last month. But still not quite reaching the levels of last year. Year over year we saw a 5.3% drop.
Median Days on Market
The median days on market still hovering around the 50 day mark coming in at 55 days this month.
Months Supply
We see a nice reduction in the monthly supply of homes with a 33.3% drop from last month. However, this is a 100% increase over last year.
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What You Need to Know
Before Listing Your Home for Sale