Broward County Market Report Broward County Market Report | Page 2

Closed Sales
Monthly
Market Detail - May 2024 Single-Family Homes Broward County
Summary Statistics
May 2024
May 2023
Percent Change Year-over-Year
Closed Sales Paid in Cash
1,249 1,252 -0.2 % 304 291 4.5 %
Median Sale Price $ 625,000
$ 585,000 6.8 %
Average Sale Price Dollar Volume
$ 859,565 $ 779,773 10.2 % $ 1.1 Billion $ 976.3 Million 10.0 %
Median Percent of Original List Price Received
96.5 % 97.3 % -0.8 %
Median Time to Contract 29 Days 25 Days 16.0 %
Median Time to Sale
67 Days
65 Days
3.1 %
New Pending Sales New Listings
1,301 1,819
1,311 -0.8 %
1,545 17.7 %
Pending Inventory 1,750 Inventory ( Active Listings ) 4,359 Months Supply of Inventory 4.3
1,990 -12.1 % 2,727 59.8 % 2.6 65.4 %

Closed Sales

The number of sales transactions which closed during the month
Economists ' note : Closed Sales are one of the simplest — yet most important — indicators for the residential real estate market . When comparing Closed Sales across markets of different sizes , we recommend comparing the percent changes in sales rather than the number of sales . Closed Sales ( and many other market metrics ) are affected by seasonal cycles , so actual trends are more accurately represented by year-over-year changes ( i . e . comparing a month ' s sales to the amount of sales in the same month in the previous year ), rather than changes from one month to the next .
Month
Closed Sales
Percent Change
Year-over-Year
Year-to-Date
5,067
-0.9%
May 2024
1,249
-0.2%
April 2024
1,196
10.5 %
March 2024
1,084
-14.7%
February 2024
831
-0.2%
January 2024
707
4.4 %
December 2023
876
0.0 %
November 2023
821
-5.7%
October 2023
983
-2.8%
September 2023
1,056
2.2 %
August 2023
1,178
-2.0%
July 2023
1,052
-13.3%
June 2023
1,256
-12.8%
May 2023
1,252
-12.5%
2,000
2020 2021 2022 2023
1,500
1,000
500
0
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M
Produced by Florida Realtors ® with data provided by Florida ' s multiple listing services . Statistics for each month compiled from MLS feeds on the 15th day of the following month . Data released on Friday , June 21 , 2024 . Next data release is Tuesday , July 23 , 2024 .