Broward home prices are up while Palm Beach County prices drop

KentBroward home prices up 7 percent; Palm Beach County sees 2 percent drop

Broward County home prices increased in August, but sales declined – a mixed bag we might as well get used to, analysts say.

The countywide median price for existing single-family homes last month was $290,000, up 7 percent from a year earlier, the Greater Fort Lauderdale Realtors said Monday. The increase was well below 2013 levels but higher than the statewide average of 3.4 percent.

Still, sales fell 7 percent, to 1,295 from 1,389 in August 2013.

In Palm Beach County, the median price of $270,000 dipped 2 percent from a year ago – the first decline in 27 months. But there were 1,500 sales, 16 percent higher than August 2013.  

Market followers insist this isn’t the start of another housing free fall. Rather, it’s a necessary slowdown to prevent a future bubble, they say.

Source: www.sun-sentinel.com