After looking at the December real estate numbers in Broward County, transaction volume in 2019 was basically flat compared to 2018.  There were 32,799 residential transactions closed in 2018 and 32,609 during 2019.  A strong December actually helped bring the numbers up.

Here is a look at the annual number of closings since 2012:

As far as the average monthly transactions, there were 2,733 in 2018 and 2,717 in 2019. You will notice from the chart that 2015 and 2016 were the strongest part of this latest real estate cycle when we look at transaction volume.

As far as prices are concerned, there was a nice bump at the end of the year.  The average price of a single-family home sold in Broward County was a whopping $494,371 in December.  That’s up from $458,330 in November and also up from $441,043 in December 2018.  The average sale price of a condo in Broward was $230,227 in December.  That figure is up from $215,842 in November and also up from the Decmber 2018 average sale price of $212,264.  Overall, the price of condos hasn’t moved much and still hasn’t reached the last peak of $264,975 from June 2018.  That will most-likely remain the high for this cycle, but stranger things have happened.  There is a constant supply of new condo properties being delivered and here is an interesting article about the high-end New York condo market.  Typically the average sale price would be increasing if the luxury units were actively selling.  Time will tell if that market component will start feeling the heat down here in South Florida.

The last chart today clearly shows a drop in the number of properties listed for sale.  Some of this is seasonal, as sellers often remove their property from the market over the holidays, just to relist in January.  I guess we will see if that’s the case this year.  In December there were 4,824 houses on the market and 7,434 condos available.