Population of Broward County
The housing market in Florida is extensive and diverse, comprising various types of residential properties. Here are some key statistics for 2024:
Single-Family Homes
- Total Number: Approximately 9.6 million single-family homes.
- Median Sale Price: $415,000, reflecting a year-over-year increase of 3.8%.
Condominiums and Townhomes
- Total Number: About 1.5 million condos and townhomes.
- Median Sale Price: $325,500, which marks a 2.8% increase compared to the previous year.
Apartments
- Florida has millions of apartment units, catering to a wide range of residents including full-time residents, seasonal visitors, and investors.
Market Trends
Home Values: The average home value in Florida is around $399,944, with a year-over-year increase of 3.2%.
Active Listings: The inventory of homes actively for sale is substantial, with more than half of the available inventory located in the southern regions of the state.
Demographics of Ownership
Full-time residents form the majority of property owners.A significant portion of properties is owned by foreign buyers and individuals looking for secondary homes, although their percentage has been declining due to high competition from domestic buyers.
If you'd like guidance from a licensed Florida Realtor®️, meet Drew virtually or contact Drew Becker. For more detailed and updated information, you can access various market reports provided by Florida Realtors and Redfin. These sources offer comprehensive data on the state's housing market, including monthly, quarterly, and annual reports on single-family homes, condos, and townhomes.