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Popular Broward County places to move to in 2024
The new year is just around the corner, and if moving to a new home in Florida is on your bucket list as the first New Year resolution this year, check out some of the most popular Broward County places to move to in 2024. However, moving before, during, or closely after the holidays is very challenging. And the New Year euphoria may transfer to other aspects, such as relocation, which is both great and tricky at the same time. This euphoria may lead you to instant decisions, and such decisions may not be good when relocating. Therefore, sit back and relax while we explore Broward County places together. And don’t worry about moving during the holiday season. Pro Movers Miami, one of the best moving companies in Florida, is at your disposal anytime.
Florida’s real estate market in 2024
In 2024, Florida’s real estate market shows signs of moderate growth and evolving trends. The average home value is approximately $392,922, marking a 0.7% increase from the previous year. Experts anticipate a strengthening market, driven by population and business growth, returning to pre-pandemic sales patterns. A notable increase in inventory is helping to stabilize prices. However, the market faces challenges, particularly in the condo segment, which struggles with rising maintenance and insurance costs, along with tighter regulations. The median home price, currently at $402,500, is expected to rise due to tight inventory, though the sale-to-list price ratio has shown a slight decline.
Zillow’s analysis adds another dimension, predicting that home buyers in 2024 will experience slightly more options and affordability. This comes after a period of inventory crunch and significant mortgage rate rises. Despite this slight easing, buying a home in Florida will continue to be an expensive endeavor. Therefore, before hiring local movers Florida offers, dig deep into real estate market research before deciding to buy a new home and move. Also, check out the Broward County real estate options in 2024.
Broward County real estate in 2024
It shows a diverse real estate trend:
- Median Sale Price: Homes in Broward County show a median sale price of $415K. This reflects a 6.4% increase from the previous year.
- Price Per Square Foot: The median sale price per square foot is $295, up 5.5% since last year.
- Sale-to-List Price Ratio: The sale-to-list price ratio stands at 97.0%, indicating a slight year-over-year decrease of 0.43 points.
- Homes Sold Above List Price: About 18.2% of homes sell above list price, a decrease of 2.3 points year-over-year.
- Price Drops: Approximately 23.8% of homes experienced price drops, slightly less than the previous year.
- New Construction: There are 350 new homes for sale with a median price of $450K. These homes typically stay on the market for 61 days and receive 3 offers, according to Redfin.
Factors that affect the real estate in Broward County
In 2024, Broward County’s housing market is influenced by several factors. The Fort Lauderdale area, part of Broward County, saw increased housing demand in late 2023. This demand continues to constrain inventory, keeping home prices high. In high-demand areas, multiple offers near or slightly above the asking price are common. The Federal Reserve’s rate increases have impacted the market. After four rate increases in 2023, rates are stabilizing. As rates begin to decline in 2024, experts forecast a surge in buyer activity and competition. For those planning to move to Broward County, it’s crucial to consider these trends. Moving companies in Broward County can assist in making the transition smoother, given the competitive real estate landscape.
These are the most popular Broward County places to move to in 2024
- Fort Lauderdale
- Hollywood, FL
- Davie, FL
- Hallandale Beach
- Pompano Beach
- Plantation
1. Fort Lauderdale
Fort Lauderdale, a gem in Broward County, is a top choice for relocation in 2024, thanks to its compelling mix of attractions and advantages. Its renowned beaches, including Hollywood Beach and Fort Lauderdale Public Beach, rank among the best in Florida and the US. Besides, the city’s strategic location, just north of Miami along the Atlantic coast, makes it a central hub for work and leisure. Fort Lauderdale is experiencing a development boom, significantly enhancing its commercial and residential appeal, partly due to Miami’s real estate market influence. Its sunny weather, low crime rates, and dynamic job market make it an ideal destination for people of various ages.
Additionally, its relatively low cost of living, absence of state income tax, and excellent educational options add to its allure for families. In this context, moving companies in Fort Lauderdale play a vital role, helping new residents transition into this thriving city seamlessly.
2. Hollywood, FL, is one of the most popular Broward County places to move to in 2024
In 2024, Hollywood, FL, stands out as one of the most popular Broward County places to move to in 2024 for relocation to various persuasive factors and distinct real estate trends. Here’s why people are choosing Hollywood. Firstly, it has a beachfront community since it is located between Miami and Fort Lauderdale. Thus, Hollywood offers over seven miles of clean beaches, numerous parks, and golf courses. It’s recognized for its beautiful beachfront, adding to its appeal. The next reason is the population growth. Namely, the city has been experiencing steady population growth. This increase reflects its growing appeal as a residential choice. The most important fact is indeed the lifestyle and diversity. Namely, Hollywood is famous for its warm weather, shopping opportunities, and diverse dining and arts scene.
The real estate market in Hollywood
In 2024, Hollywood’s real estate market presents a less competitive landscape. Homes generally receive around two offers and stay on the market for about 62 days. The median sale price has decreased slightly, standing at $445K, with the price per square foot at $336. Currently, Hollywood is experiencing a shift from a buyer’s market towards a neutral market. This trend indicates that while the supply of homes exceeds demand, leading to lower prices and longer market times, the situation becomes more balanced. Thus, the role of moving companies in Hollywood, FL, becomes increasingly significant. Furthermore, professional movers assist newcomers in navigating the real estate market and settling into this attractive city, making the transition smoother for many.
3. Davie, FL
Davie, FL, is one of the most popular Broward County places to move to in 2024. It offers a lifestyle that appeals to many, especially families. This medium-sized city has a diverse population, with a significant Hispanic or Latino presence and a mix of other ethnicities. Over 71% of residents are married, and more than half have children under 18, emphasizing its family-friendly nature. Besides, Davie scores high in several livability aspects, including crime, education, employment, and housing, although it ranks lower in amenities. All in all, this high livability score makes it an attractive place for both long-term residents and newcomers.
The real estate market in Davie is robust. Home and rental affordability and appreciation rates suggest a thriving market beneficial to buyers and renters. The median real estate prices are significantly higher than the Florida average, indicating a strong demand and a healthy economic environment. Therefore, if you’d like to move to Davie, check out the best moving companies Davie FL has to offer and move like a pro.
4. Hallandale Beach
Hallandale Beach stands out as one of the most popular destinations in Broward County, drawing people for various reasons. Its real estate market trends and lifestyle offerings significantly influence this popularity.
- Market Activity: The market in Hallandale Beach is not overly competitive. Homes typically receive 1 offer and sell in about 82 days.
- Median Sale Price: The median sale price of homes is $340K, showing a 6.6% increase from the previous year.
Price Dynamics: The sale-to-list price ratio is at 94.2%, indicating some negotiation room for buyers.
The combination of a steady real estate market and rich lifestyle offerings makes Hallandale Beach a desired location. Thus, hire movers Hallandale Beach has, and they will cater to many people choosing to make this their home. They play a crucial role in facilitating smooth transitions for new residents attracted by the unique blend of leisure and living comforts that Hallandale Beach offers.
5. Pompano Beach is one of the popular Broward County places to move to in 2024
Key factors contributing to its popularity include its exceptional weather and prime location. The city has a warm, sunny climate year-round, with average temperatures around 75 degrees. So, this makes it ideal for outdoor enthusiasts and those seeking relief from colder climates. Additionally, Pompano Beach is recognized for its tax benefits, as Florida is one of the few states without a state income tax, which is particularly advantageous for retirees and investors.
However, potential movers should be aware of the cost of living in Pompano Beach, which is higher than the national average. Namely, housing, transportation, and food expenses are notably steep. Living costs are about 10% to 18% higher than the national average, and housing prices are 56% higher. For example, the average cost of living in the city is $2,552 per month, placing it among the more expensive cities globally and nationally. The annual expenses for a single adult, including housing, food, child care, transportation, health care, taxes, and other necessities, amount to approximately $37,905. Despite these costs, many find the city’s climate, location, and tax benefits worth considering. Therefore, hire our moving companies Pompano Beach has and move without any hassle.
6. Popular Broward County places to move to in 2024: Plantation
Plantation is experiencing steady growth, making it a vibrant and dynamic place to live. It offers a strong sense of community, characterized by many families and married individuals; more than 72% of the population is married, and 62% have children. Besides, the city is known for its beautiful natural surroundings, enhanced by an abundance of trees and 42 parks, providing residents with ample green space and outdoor recreation opportunities. The median home value in Plantation is $353,400. So, while the cost of living is about 17% higher than the national average, the city offers a high quality of life. Also, Plantation’s median income is $79,893, and the median home price is $271,200, significantly higher than the Florida average.
Safety, convenience, and access to amenities are key considerations for moving to Plantation. The city prides itself on its low crime rate, proximity to workplaces and schools, and various essential amenities such as parks, grocery stores, fitness centers, and healthcare facilities. All in all, these factors, along with efficient public transportation, contribute to Plantation’s appeal as a desirable place to live.
Schedule Pro Movers Miami for your 2024 move
Now that we’ve explored the most popular places in Broward County to move to in 2024, it’s time to start planning your relocation. First, get to compare the real estate options in Broward County. Then, inspect numerous homes in person and find a reliable real estate agent. After buying or renting a home, start planning for the move. However, you won’t have to plan the relocation yourself. Our dependable movers are here to make your process seamless and stress-free. They will plan and execute your relocation from start to finish, paying attention to making sure nothing is missing. Besides, you won’t have to worry about meeting deadlines. Our reliable movers will do that for you. Therefore, contact us today, get your moving quotes, and move like a true pro.
References:
Santarelli, M. (2023, December 3). Florida Housing Market Predictions 2024 & Next 5 Years: Will it Crash? Norada Real Estate Investments. https://www.noradarealestate.com/blog/florida-housing-market#:~:text=Florida%20Housing%20Market%20Predictions%202023
2024 Housing Market Outlook: A Better Year Ahead? (2023, October 23). Florida Realtors. https://www.floridarealtors.org/news-media/news-articles/2023/10/2024-housing-market-outlook-better-year-ahead#:~:text=Looking%20ahead%20to%202024%2C%20state
Florida Real Estate Market: 2023 Updates. (2023, April 20). Houzeo Blog. https://www.houzeo.com/blog/florida-real-estate-market/#:~:text=Average%20Home%20Prices%3A%20The%20average
Research, Z. (2023, November 30). Zillow’s 2024 Housing Market Predictions. Zillow. https://www.zillow.com/research/2024-housing-predictions-33447/#:~:text=Zillow%20Research%20%E2%80%A2%20Nov%2030
New Homes for Sale in Broward County, FL. (n.d.). Www.redfin.com. Retrieved December 5, 2023, from https://www.redfin.com/county/442/FL/Broward-County/new-homes
New Construction Homes in Broward & Fort Lauderdale, FL. (n.d.). New Home Source. Retrieved December 5, 2023, from https://www.newhomesource.com/homes/fl/broward-county-ft.-lauderdale-area
3D Virtual Tour: 713 SE 7th St. (2023). Homes.com. https://www.homes.com/broward-county-fl/new-construction/