Broward Pending Home Sales Increase 10 Percent

by admin

Total cumulative pending home sales in Broward County increased 9.8 percent in December compared to a year earlier, from 6,898 to 7,571, and decreased 0.9 percent, from 7,638, compared to the previous month according to the MIAMI Association of Realtors and the Southeast Florida Multiple Listing Service (SEFMLS).

Apartments and marina in Fort Lauderdale

Apartments and marina in Fort Lauderdale - By Paul Thompson/Corbis

“December pending sales figures denote stability in the Broward real estate market resulting from local and international buyer interest and demand,” says Terri Bersach, 2010 president of the Broward County Board of Governors of the MIAMI Association of Realtors. “As an indication of future sales, current pending sales indicate demand for local properties should carry on into the future, as buyers continue to take advantage of local opportunities and endless amenities.”

Pending condominium sales in Broward again performed better than that of single-family homes in December. Pending condominium sales in Broward were 14.4 percent higher than they were in December 2009, up from 3,780 to 4,324, and were .4 percent lower than they were the previous month, down from 4,343.

Compared to December 2009, Broward pending sales of single-family homes rose 4.1 percent, from 3,118 to 3,247, and decreased 1.5 percent, down from 3,295, compared to the previous month.

In neighboring Dade County, total cumulative pending home sales increased 28.8 percent in December compared to a year earlier, from 8,105 to 10,437, and decreased .6 percent, down from 10,495, compared to the previous month.

A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales.

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  • Alexander Jack says:

    Are these pending sales all based in foreclosure, short sale and REO’s or they are real estate regular sales ?Does that mean the market is improving? Is great to hear that people are buying properties once again! hope 2011 brings even more enthusiastic numbers.

  • admin says:

    @Alexander Jack –

    This figure includes pending sales of all properties in Broward county, including foreclosures. According to the MIAMI Association of Realtors, distressed properties actually accounted for 76.7 of all pending home sales in December!

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