In July, Broward County’s condo market saw a mixed performance, with a rise in the number of sales but a dip in total dollar volume compared to the previous month. Despite closing more deals—824 compared to June’s 808—the overall sales volume dropped from $285 million to $261 million, indicating that the properties sold were, on average, less expensive.
The median sale price also reflected this trend, slipping slightly from $240,000 in June to $235,000 in July. Similarly, the median price per square foot fell from $242 to $232, pointing to a softening in market prices.
Notably, the luxury segment still made a strong showing. The highest sale in July was Unit 2001 at the Four Seasons Residences in Fort Lauderdale, which fetched $8.2 million, or $2,130 per square foot, after nearly two years on the market. This sale exceeded June’s priciest transaction, showing that high-end properties continue to command significant prices, even as the broader market cools.
On the other end of the spectrum, the most affordable sale was Unit 417 at Castle Gardens in Lauderhill, which sold for just $50,000, or $54 per square foot, highlighting the wide range of property values across Broward County.
While the market’s volume and prices show some signs of adjustment, the diversity in sales—from luxury beachfront condos to more modest units—demonstrates the varied opportunities available in Broward’s real estate market. As the market evolves, it will be interesting to see whether the trends of declining prices and increasing sales continue, or if Broward County’s condo market will find a new equilibrium.
