Broward Home Sales Split in Two: Luxury Surges While the Rest of the Market Cools

Broward's housing market did something unusual in August. Two numbers moved in opposite directions, in the same county, in the same 30 days.

Home sales at $1 million and above rose 22.6 percent year over year, 255 closings compared with 208 the year before. Total home sales across every price point fell 4.5 percent over the same period, down to 1,899 closings. Condo sales alone dropped 9.3 percent, the steepest decline of any segment tracked. Single family sales barely moved, up 0.1 percent.

Read only one of those numbers and you get a headline. Read both and you get the actual market. This is not a county that is booming, and it is not a county that is slowing down either. The top of the price ladder is simply pulling away from everything below it.

Cash tells the same story from a different angle. More than half of Broward's condo buyers, 52.2 percent, paid cash last month. Single family buyers paid cash 21.8 percent of the time, closer to the national average. When cash dominates a segment that heavily, it usually means two things at once. Buyers with equity or liquidity are stepping in where financing has gotten harder to secure, and sellers in that segment are dealing with a thinner pool of financed buyers than they were a few years ago.

Part of the why is straightforward. A buyer at $1 million and above is far less sensitive to a mortgage rate move or an insurance quote than a buyer stretching for a $450,000 condo. Rate volatility and rising carrying costs squeeze the middle of the market first, and most Broward households still have to qualify for financing the way they always have. Above $1 million, more of the buyer pool is paying outright or putting enough down that the loan barely matters, which is exactly what the cash numbers above are showing.

If you are selling a condo under $1 million this fall, the comps from 2023 and 2024 are not your market anymore. Buyers in that range have more selection and less urgency than they did, and pricing to last year's number instead of this month's activity is the fastest way to sit on the market past season. Price it wrong once, and every week it sits gets used against you at the negotiating table.

If you are on the other side of that $1 million line, the math looks different. Demand is real, closings are up, and a well priced property in that range is still moving with less room to negotiate than a buyer might expect walking in. Sellers up there do not need to chase the market. They need to price to the buyers who are actually showing up, and the numbers say there are more of them than there were last year.

None of this means the same thing for every address or every situation. Price point is only one piece of it, alongside condition, location, and timing. If you want to know where your specific property or your specific search actually sits inside these numbers, that is a conversation worth having before you list or write an offer, not after.

Roger Averbuj, Broker | Prestige Heritage Realty | (954) 663-8461

Source: MIAMI REALTORS + RWorld, "Broward County Total $1M+ Home Sales Rise Again," September 16, 2026, https://www.miamirealtors.com/2026/09/16/broward-county-total-1m-home-sales-rise-again/