Broward County, Florida broke the record for most annual home sales in just 10 months as total sales in October 2021 pushed the market above par, according to new data from the Miami Association. of Realtors.

Broward County’s total home sales fell 8.5% year-on-year from 3,241 to 2,967 in October 2021 due to the lack of inventory and composition of Covid19 (stats are compared with the high rehabilitation demand of last year). Broward single-family house transactions fell 16.3% from 1,656 to 1,386. Existing condominium sales in Broward fell slightly by 0.3% from 1,585 to 1,581.

Since the beginning of the year, Broward has recorded 34,167 total sales of existing properties in 10 months, surpassing the previous annual record of 33,891 transactions for the full year 2016.

“It was a historic year for homes sold for real estate in Broward County, and the total would be even higher if there were more inventories,” said Patrick Simm, president of Broward-MIAMI. “The Broward and Fort Lauderdale real estate sector offers a fiscally efficient and government-friendly market with better access to water, beaches, an amazing downtown, shopping, and more. “

Sales of Broward luxury goods rise as shoppers move north-east and west coast to mega-region

Broward single-family luxury transactions ($ 1 million and up) increased 20.3% year-on-year to 142 sales in October 2021. Sales of luxury condominiums in Broward increased 65.4% ($ 1 million and beyond) year over year. -Man on 43 transactions.

There is 3.6-month offers in luxury single-family homes; 5.8 month supply of luxury condominium. The trend of the months of the luxury offer continues to decrease from month to month and from year to year for all types of properties.

Low-interest rates; Solid S&P 500; attractiveness of stable assets in a volatile economy; Homebuyers leaving the Northeast states taxable for purchase in Florida (no state income tax); and the Guidelines for Homework and Distance Learning have combined to create a strong market for luxury single-family homes.

With the rise in global vaccinations and unstable political situations around the world, the number of overseas buyers in South Florida is on the rise. Global buyers come here to get the vaccine and buy property.

Vaccinated foreigners will be able to travel back to the United States starting November 8, leading to more international investment in South Florida, a number 1 destination for foreign buyers. Global buyers are shopping in Miami because Miami is an excellent cosmetic city with better real estate prices than other similar global cities. Foreign buyers feel at home in our incredible diversity and acceptance of all cultures.

Single homes for Broward families, priced between $ 400,000 and $ 600,000, fell 6.2% year-on-year to 497 transactions in October 2021. Existing Broward condos increased between $ 400,000 and $ 600,000 90 , 7% to 143 transactions.

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