December 2020 Broward County Real Estate Market

December 2020 Broward Real Estate Quick FactsDecember is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.

  • New Listings increased 5.2 percent for Single Family homes and 9.4 percent for Townhouse/Condo homes.
  • Pending Sales increased 41.8 percent for Single Family homes and 45.3 percent for Townhouse/Condo homes.
  • Inventory decreased 43.9 percent for Single Family homes and 8.2 percent for Townhouse/Condo homes.
  • Median Sales Price increased 13.1 percent to $426,500 for Single Family homes and 11.8 percent to $200,750 for Townhouse/Condo homes.
  • Median Time to Contract decreased 52.8 percent for Single Family homes and 7.1 percent for Townhouse/Condo homes. Months Supply of
  • Inventory decreased 47.4 percent for Single Family homes and 7.4 percent for Townhouse/Condo homes.

With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue the trends we saw in the second half of 2020. Low inventory and multiple offers on in- demand properties and market segments are likely to remain common while the market waits and hopes for a boost in new construction and a surge in home sellers to help provide more balance to the market.