According to the Greater Fort Lauderdale Board Of Realtor in Sun-Sentinel real estate article, February home prices up in Broward, down in Palm Beach County, the median homes price in Broward County rose 12 percent from last year showing a continued increase in the local real estate market along with a 6 percent increase in overall sales. The market’s vibrant explosion in prices and sales has slowed down significantly. In fact, there was a 20 percent decrease in cash transactions from last year, showing a drop in real estate investors. Other signs that the market is cooling down is that Broward County homes are taking longer to sell than they did just a year ago. With February home prices in Broward County up 12 percent, home sales are still moving well.
As a South Florida real estate professional, I meet dozens of buyers and sellers on a weekly basis. I express to our clients that the local market is ever-changing! Currently, I see that the statistics shows that the overall Parkland and South Florida market stabilizing. I do see a good spring selling season, as interest rates will still be at record low levels for buyers relocating to the area along with low available home inventory.
Homes that are priced right are selling quickly, sometimes with multiple buyer offers. Even with the Federal Reserve announcing that they will eventually be raising interest rates, buyers are still taking advantage of historically low interest rates. This is a major reasons why Broward County home prices are up 12 percent. Today, buyers are taking a little more time to pull the trigger on a purchase contract, as the cash investor competition is almost non-existent. The reasons for the lack of cash real estate investors is due to home prices appreciating, which caused a decrease in rental income. These same cash investors that were gobbling up thousands of South Florida real estate properties in the past few years are now seeing other investment opportunity like in the stock market.
If you read my Parkland Parrot Real Estate Website, you know that the Parkland and Coral Springs real estate market is changing on a regular basis. Values here can vary dramatically from neighborhood to neighborhood. Whether you are buying or selling, relocating, or moving to Parkland, Coral Springs Coconut Creek, or the surrounding areas in South Florida, it is more important than ever to work with a local Realtor who has experience and knowledge of the market and is a full-time real estate consultant. I am honored to be the #12 top producing RE/MAX real estate agent in the entire State of Florida for 2014 along with being one of the top Realtors in Parkland and South Florida. I am also the top real estate agent at RE/MAX ParkCreek again for 2014.
I can be reached anytime on my cell at 954-609-0591 if you and your family are looking to buy, sell, or rent a home or you can fill out a contact form here and I will gladly give you a call back to discuss your real estate needs. My best marketing is YOU! Please visit our Client Testimonial Page to read more about the experiences of working with our team. Call me for your customized marketing plan and comparative market analysis! Let my full service and aggressive marketing campaign work for you and your family! Please give me a call at: 954-609-0591.