Latest Monthly Real Estate Report for Broward, Miami-Dade, and Palm Beach

Check out the recently released monthly real estate reports for Broward, Miami-Dade, and Palm Beach. Inventory continues to rise, while sales volume and median sales prices remain flat. If you take a quick look at the graphs below for each property type and county, you’ll see that the inventory graphs show an obvious steady rise. For example, here’s the one for Broward County single-family homes:

And here’s the inventory graph for Broward condos and townhouses:

Generally, under basic economic principals, if supply increases while demand remains constant, prices decrease. And of course, if supply increases while demand decreases, prices also fall. I do not have a crystal ball but prices appear to have peaked. (The graphs linked below show that median sales prices have remained the same for about three years.)

I speak with a lot of Realtors and they all tell me the market has slowed tremendously—that sales prices and the number of closed sales are declining. In other words, the stats are lagging behind the current reality. With all the inventory, we are in a buyer’s market. And serious sellers are reducing their prices.

We welcome your comments about what you see in these reports and what you think this means for the future of our real estate market.

Here are the reports:

Due to listing data being uploaded sometimes weeks after a transaction closes, these reports are often released a few weeks behind. The delay is required to make sure the reports are as complete as possible.

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