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John Sabia and Johanne Gosselin Sabia (Quebecoise), look forward to an opportunity to assist you with purchasing or selling a home or condo for sale in Ft Lauderdale, Florida. Ask me about available Fort Lauderdale Short Sales and Foreclosures in Fort Lauderdale.
Condos
Residential Real Estate in Fort Lauderdale, Fl - Market Update
December 2011 Market Update for Fort Lauderdale Beach, Northeast and Southeast Fort Lauderdale homes and condos indicates a very favorable real estate market. Inventory was down, a spike in the number of sales and only a modest decline in pending sales (most likely due to holidays). The Median sales price shot up 14% and total inventory shrunk to 6.8 months of inventory. A Balanced market is 6-8 months of inventory.
January 2011 vs December 2011: Inventory has decreased by 29.5%. The number of Sold Properties increased by 17.7%. Pending Sales were down 14.6%.
Median Sales Price is up 29.7%. Months of available Inventory has decreased by 7.8%. Foreclosure Inventory decreased by 51.2%. Short Sale Inventory decreased by 48.3%
Single Family Homes: There were 85 closed single family homes in December, 13.3% from November. 10 sales were classified as REO (Real Estate Owned bank foreclosures) sales; up 42.9% from last last month. 13 home sales closed as short sales; down 38.1%.
Average Sales Price for a home in December was $749.00 up 33.5% from November. Average Price per Square foot was $294; up 22.5% from last month.
Median Sales Price for a home in December was $350,000; up 7.4% from last month.
Home Sales Pending - 96 homes went under contract in December; up 1.1% from previous month.
Available inventory shrunk to 7.4 months supply of available single family homes for sale; down 13.8% from last month. 21 homes were listed as foreclosures; up 5% from last month. 64 homes are listed as Short Sales; down 7.2% from last month.
Total Single Family Inventory in December was 633 homes for sale versus 648 homes for sale last month, down 2.3%.
Condominiums - Closed condo sales in December totaled 181 up 28.4% from November. 24 condo sales were classified as REO foreclosures; up 4.3% from previous month. 29 condo sales were classified as short sales; unchanged from last month..
Average Sales Price for a Condominium/ Townhouse in December was $264,000; up 13.8% from last month. Average Price per Square Foot was $196; up 2.8%.
The Median Sales Price for condos was $190,000; up 13.1%.
Pending Condo Sales in December totaled 180; down 6.7% from last month.
Inventory level for condos in December shrunk 24.1% to a 6.4 months supply of available condos for sale. 31 condo/town homes for sale were listed as foreclosures; down 6.1%. 110 were listed as short sales; down 3.5%.
Total Condo/townhome inventory in December was 1,167 properties for sale versus 1,198 condos for previous month, down 2.7%.
Broward County MLS Statistics.
Fort Lauderdale Real Estate Blog
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Marc Rasmussen sells Sarasota Florida Real Estate, I know him personally and I happy to recommend him to anyone searching in Sarasota.
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