Broward County home prices up 9 percent | House Keys blog.

Home prices in Broward and Palm Beach counties increased in March from a year ago, local Realtor boards said Thursday.

Broward County’s median rose 9 percent to $190,600, according to the the Greater Fort Lauderdale Realtors. Sales increased slightly, to 1,179 from 1,168.

In Palm Beach County, the median price for March was $197,000, up 4 percent from a year ago, according to the Realtors Association of the Palm Beaches. Sales declined 7 percent.

Sales are leveling off or declining in South Florida because buyers are having trouble finding available homes, real estate agents say. The inventory of homes for sale is down sharply in both counties from a year ago.

Frustrated buyers often search for months before getting a contract, said Stephen B. McWilliam, president of Greater Fort Lauderdale Realtors.

“A lot of their offers are getting rejected because of the competition in the marketplace,” he said.

 

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