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Broward County, FL 52% Absorption Rate.

The Absorption Rate

The Absorption Rate shows us how quickly properties sell or are *absorbed by the market. This rate helps determine the balance between supply and demand.

Calculating the Absorption Rate

To calculate the absorption rate, divide the number of properties sold in the last 30 days by the total number of houses available for sale. The resulting figure represents the rate at which properties are being absorbed or sold. For this rate we assume that no new listings will enter the market.

For example, if there were 100 homes available for sale at the beginning of the month, and by the end of the month, 20 homes were sold, the absorption rate would be 20% (20 homes sold divided by 100 homes available).

Interpreting the Absorption Rate

A high absorption rate indicates a strong demand and a seller's market, where properties are being sold quickly. Conversely, a low absorption rate suggests a slower market and potentially a buyer's market, where properties may take longer to sell.

Broward County Absorption Rate

Currently, the absorption rate is 0.52% for houses and 0.53% for condos, indicating a strong seller's market.

City-specific Absorption Rates

Interestingly, even within Broward County, each city has different absorption rates. It's important to consider these variations when you are ready to make a Real estate move.

Section 2: Price Reductions

Price reductions are another aspect to consider when evaluating the real estate market. They provide insights into the dynamics of supply and demand, as well as pricing strategies.

Percentage of Listings with Price Reductions

Out of the 2,630 active listings on the Multiple Listing Service (MLS), a significant 819 houses have reduced their original asking price, not just once, but two or more times. This represents over 30% of the market.

What does this tell us?

Pricing is important!

Pricing Strategy and Market Trends

Even in a strong seller's market like this one, when we see a substantial portion (30%) of the market reducing their asking prices, it raise questions about pricing strategy.

If you ever have a question, feel free to call me, I will be happy to help in Broward County, Fl.

Cecilia La Rosa 754-273-0265


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