South Florida’s housing recovery is on strong footing.
In Broward County, the median price of an existing single-family home surged 21.1 percent to $230,000 in December from a year earlier, according to the Greater Fort Lauderdale Realtors.
The median price of an existing condo or townhouse in Broward in December jumped 24.7 percent to $95,100 year over year, the group said.
Sales of single-family homes in Broward climbed 14.9 percent in December year over year while the volume of condo and townhouse closings increased 4.7 percent over the period.
The inventory of single-family homes in Broward fell 35.5 percent in December from a year earlier, while the inventory of condos and townhomes on the market declined 25.2 percent year over year, the Fort Lauderdale group said.
“Buyers are quite surprised there is not more inventory after everything they have been hearing,’’ said Eyvonne Kafourus, an agent with Prudential in Fort Lauderdale. “I see a lot of people coming in from other states, for job transfers and retirement.’’
“Buyers are getting aggravated because they are losing deals,’’ said Charles Bonfiglio, president of the Greater Fort Lauderdale Realtors. “Eighty to 90 percent [of sales] are multiple offer situations. They’ve got to move quickly.’’
The median days on the market for a single-family home in Broward declined to 37 days in December from 56 days a year earlier, the Realtors group said.
Florida has been seeing a flow of new arrivals after a period of exodus during the downturn.
“We’ve obviously turned the corner. We’ve noticed inventory tightening up,’’ said Philip Vias, a broker associate with Prudential in Fort Lauderdale.
Vias said more buyers seem to be coming in from the Northeast. “What’s held things up is homes weren’t selling up north. North it’s starting to trickle down.’’
Statewide in Florida, single-family home sales climbed 15.8 percent in December from a year earlier as the median price increased 14.1 percent to $154,000.
Existing home sales and prices rose in Broward in December
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Existing home sales and prices rose in Broward in December
