Broward County’s Real Estate Market Post-COVID-19

As South Florida moves into the next phase of the COVID-19 pandemic recovery, home sales in Broward County, which is at the center of the region, are also struggling to recover. After a difficult March, sales of single-family homes declined in April 2020 by 36.1% to 985, while the median sales price climbed 6.1% to $382,000, according to the Broward, Palm Beaches & St. Lucie Realtors. Active listings were down 15%. Condo/townhouse sales also were off 38.8% to 980, while the median sales price grew 7.9% to $183,500. Active listings declined 6%, and the supply of inventory at the current sales pace was down to 6.1 months.

Although experts expect home sales in Broward to recover, it may take a while. South Florida suffered the biggest blows in the state’s COVID-19 lockdown as the region had the highest numbers of cases and deaths from the virus, and its business shutdowns lasted longer than in other parts of the state. Broward and the rest of the region also saw a greater decline in home sales than most other parts of the state.

The numbers are not surprising when you consider the difficulties of selling a home during an unprecedented health emergency. If repairs were needed, in some cases, it was difficult to get workers into a home to complete the job. Home code compliance inspections halted as cities and municipalities shut down for more than two months, and now will have a backlog of work to address. Selling your property “as-is” has never held more appeal. 

In-person home showings to potential buyers have also ceased as social distancing requirements in many communities would not accommodate them, and buyers showed caution by not requesting them. Even though most showings were scheduled virtually,  most buyers still want to see the property in person.

Many home sellers are suffering the uncertainty of not knowing how long it will take for the real estate market in Broward County to improve. Some cannot afford to wait for this to happen and need the cash from the sale of their homes as quickly as possible. If this problem sounds familiar, you could likely benefit from selling your home for cash to the home buying professionals at Homeinc. The process is much faster than working with a realtor, no home repairs are necessary, and you keep more of the proceeds of the sale of your home.

How it Works

When you call Homeinc. at (888) 850-2636, our experienced acquisition managers will speak with you about your property and analyze its worth – there is no charges for this. This typically takes into consideration the home’s age, whether or not it needs repairs, and any complications in its ownership and position within the market.

Then you receive a real cash offer for your home from a Homeinc. team member. You are under no obligation to accept the offer, but if you do, we’ll send you a contract in whatever way is most convenient for you – by email, express mail, or hand delivery. Once you receive the contract, you will see that it specifies that Homeinc. is buying your property “As-Is”. We will do all the repairs, handle any code violations and liens, and pay any probate costs. This opportunity saves you time and money in the sale of your home.

After you sign the Homeinc. contract, you choose the closing date of the cash sale of your property. All Homeinc. closings are handled through a licensed title company and escrow agent for your peace of mind. You will not have any closing costs or pay any commission. At closing, the cash for your property is wired directly into your bank account.

When selling your home to Homeinc., you will find that

·       You Sell Faster

·       You Close Faster

·       You Keep More Money from the Sale

Amid difficult circumstances, choosing to sell your home for cash is often the best choice so you can move on. Homeinc.’s team of professional home buyers are experienced and know the Broward real estate market well. Our team is extremely flexible in our terms and can accommodate long closings, taking property with tenants, liens, violations, and more. Contact Homeinc. today and let’s get the ball rolling!

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