We are almost finished with 2019 and we have a few charts of the residential activity in the Fort Lauderdale area. First, let’s see how the transaction activity looks. There were 5,392 single-family homes sales closed and 8,002 condo deals closed in Broward County during the month of November, for a total of 13,331 transactions. This total represents a 7% decline from the 14,356 closed sales in November 2018.
Average sale prices
The average sale price of a single-family home in Broward was $458,330, up slightly from $444,247 in November 2018. Condo prices in the Fort Lauderdale area declined 2% from $220,268 last year to $215,842. You will notice from the chart that condo prices really haven’t moved much after peaking in June 2018.
There were 5,329 houses and 8,002 condos for a total of 13,331 properties on the market in the month of November throughout Broward County. This represents a 7% decline from the 14,356 properties that were available on the market in November 2018. You will notice from the chart that the inventory of condos appears to be climbing. That is worth watching as we move into 2020.
Average monthly transaction volume
There have been a total of 29,912 residential sales in Broward through the end of November, which makes brings the monthly average to 2,719 closings. In 2018 the monthly average was 2,733 closings, which means we are basically unchanged.