South Florida Real Estate Market Update | October 2021

Gloria Heck
Gloria Heck
Published on October 1, 2021
South Florida Real Estate Market Update | October 2021

Here’s an update on what’s going on in the Real Estate Market for Southeast Florida. We will break this down by each county starting off with Miami.

Miami

There were 1105 single family homes sold in the last 30 days. The median price was $485,000 which is down from last month’s median price of $500,500, but a 14% increase year over year. Sellers are getting 99% of their asking price with homes going under contract in 16 days vs 29 last year.

miami real estate market update
Miami Real Estate Market Update

Broward County

For Broward County there were 1306 single family homes sold in the last 30 days. The median price was $500,000 which is up from last month’s median price of $495,000. But an 18% increase year over year. Sellers are getting 100% of their asking price with homes going under contract in 13 days vs 20 last year.

Broward County Real Estate Market Update

Palm Beach County

For Palm Beach County there were 1184 single family homes sold in the last 30 days. The median price was $500,000 which is up from last month’s median price of $480,000. But an 19% increase year over year. Sellers are getting 100% of their asking price with homes going under contract in 11 days vs 20 last year.

Palm Beach County Real Estate Market Update

In all three counties inventory of homes in the market month over month is down. What does all this mean? The Real Estate market in Southeast Florida is still sizzling hot. It was my opinion that things would slow down a bit as we ended the year, but folks, that is not happening. If you are a seller, you can still sell and take advantage of a great market.  Check out my video to prepare your home for sale. If you are a buyer, interest rates are still low depending upon your credit, etc. But the average interest rate is around 3%, which is actually lower than projected at the start of the year. Buyers you need to be prepared to compete in this market. Checkout my video to help you prepare.

Want to know the value of your home?
Gloria will figure it out for you for FREE.

Let's Talk Real Estate!

chat_bubble
close
Request a FREE online home valuation
LET'S DO IT!
X