Broward County condo prices in the 2024 Summer Buying Season traded at a rich premium based on the “1% Rule” commonly used by investors.
Broward County condo prices have spiked since 2021, making it increasingly challenging for profit-driven investors who want to purchase units in popular area such as Downtown Fort Lauderdale, Hollywood Beach and increasingly Pompano Beach.
Rising property values from strong demand, skyrocketing insurance prices following the Surfside condo collapse and stubbornly high interest rates from a series of hikes by the Federal Reserve brought the South Florida housing market to a standstill in the second half of 2023.
Industry watchers are at odds as to the direction of the South Florida housing market going into 2025…