The Sun-Sentinel is reporting that the average price for homes in Broward County grew to $180,000 in February, which is a six percent increase from last year. Home sales went from 909 to 913.
In Palm Beach County, the average in February was $190,000, which went down 10 percent from February 2011, according to the Realtors Association of the Palm Beaches. Home sales went up seven percent, from 772 to 824.
Statewide, the median price for existing homes grew seven percent in February from last year to $134,000, but sales fell 4.8 percent, the Florida Realtors said. Prices are flattening and the number of homes for sale is down in many markets.
According to Florida Realtors Chief Economist John Tuccillo, the Florida real estate market is “moving from being a buyer’s market to a balanced market.”