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South Florida Housing Market Popped in 2012

Thu Jan 24, 2013 on Blog

American Real EstateSouth Florida home prices rose in December, an upbeat end to a year in which sellers regained the upper hand.

Broward County’s median price for existing homes last month hit $230,000, the highest of 2012 and a 21 percent increase from a year earlier, the Greater Fort Lauderdale Realtors said Tuesday. Broward’s median increased on an annual basis in every month during 2012.

There were 1,238 Broward homes changing hands, up 15 percent from December 2011. Cash deals rose 35 percent, to 549 from 407.

Palm Beach County’s median price also rose by 21 percent in December, reaching $229,750, according to the Realtors Association of the Palm Beaches. The county had 1,184 sales – roughly half in cash — a 15 percent increase from a year ago.

 Read Paul Owers’ full report in the South Florida Sun-Sentinel