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FORT LAUDERDALE \u2014 Broward County home sales of $1 million or more increased 22.6% year-over-year in August 2026, rising from 208 to 255 transactions, according to market statistics released with MIAMI REALTORS + RWorld, the MIAMI MLS and BeachesMLS.<\/p>\n
The shift comes as broader market activity shows mixed results, with total home sales down from a year earlier even as higher-priced transactions moved higher.<\/p>\n
\u201cHome buyers are moving to Broward County because of its more affordable price points, greater availability of land, zoning opportunities, overall flexibility, and more,\u201d MIAMI REALTORS + RWorld BROWARD-MIAMI President Sophia Allen said.<\/p>\n
Single-family home sales in Broward increased slightly in August, rising 0.1% year-over-year from 1,015 to 1,016. Total home sales fell 4.5% year-over-year to 1,899 transactions. Condo transactions declined 9.3% year-over-year to 883.<\/p>\n
The report said the sales totals do not include South Florida new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS.<\/p>\n
Lending constraints remain a factor in the market, the release said. It cited U.S. Department of Housing and Urban Development statistics showing that of 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for Federal Housing Administration loans. It further said just 0.9% of South Florida condo buildings are FHA approved.<\/p>\n
The release also cited a change by Fannie Mae and Freddie Mac eliminating a limited review option for many condo loans on Aug. 3.<\/p>\n
Broward condo prices increased 3.96% year-over-year in August, from $247,700 to $257,500.<\/p>\n
Inventory tightened for a seventh consecutive month. Total active listings in Broward fell 17.4% year-over-year from 16,559 to 13,679. Single-family listings decreased 22.54% from 5,489 to 4,252, and condo inventory fell 14.84% from 11,070 to 9,427.<\/p>\n
Months\u2019 supply figures indicated a seller\u2019s market for single-family homes at 4.1 months and a buyer\u2019s market for existing condominiums at 9.9 months. The release said the balanced range is between six and nine months of supply.<\/p>\n
The release also reported economic impacts tied to local home sales, citing that Broward sold 1,899 homes in August for a local economic impact of $244 million. It said Broward total dollar volume increased 5.81% year-over-year to $1.2 billion, with single-family dollar volume up 7.42% to $923 million and condo dollar volume up 1.49% to $319 million.<\/p>\n
Mortgage rates were another backdrop for buyers, the release said. It cited Freddie Mac figures showing the 30-year fixed-rate mortgage at 6.67% in August, and said rates climbed to 7.17% as of Sept. 15.<\/p>\n
\u201cWith mortgage rates poised to remain above 6.7% through year-end, expect more cash and high-end buyers to drive the South Florida real estate market and for well-priced homes to sell quickly,\u201d MIAMI REALTORS + RWorld Chief Economist Gay Cororaton said.<\/p>\n
The release said total active listings, pricing and sales timing reflected near-list sale performance, with the median share of original list price received at 96% for single-family homes and 93% for existing condominiums. It also said cash buyers represented 35.9% of Broward closed sales in August.<\/p>\n