By Paul Owers, Sun Sentinel
Broward County’s median home price of $270,000 jumped 32 percent in September from a year ago, the Greater Fort Lauderdale Realtors said Monday.
The large annual increase continued a recent trend. Broward’s median now has risen year over year by more than 20 percent for 10 consecutive months.
But since hitting $275,000 in July, its highest point this year, Broward's median has dipped in August and September, suggesting the recent price spikes may start to slow down. Analysts say big price increases aren't sustainable in the long run.
During September, 1,211 Broward homes traded hands, up 13 percent from a year earlier. Another encouraging sign: more homes are hitting the market, with Broward's inventory up 1 percent from September 2012.
Meanwhile, Palm Beach County’s housing market also enjoyed a strong September, but the median price of $250,000 increased a modest 11 percent from a year ago, according to the Realtors Association of the Palm Beaches. There were 1,247 home sales, 21 percent higher than a year ago.
While Palm Beach County’s median price continues to increase year over year, it's virtually unchanged from March.