April 2009 figures for Home Sales in Fort Lauderdale continue for the 3rd straight month with an upward trend.
Both Single family home sales and Condo sales were up double digits in April as well as up double digits for Pending sales in both categories.
Total Inventory for all property types has shrunk.
Closed Sales for Single Family Homes for sale in Fort Lauderdale shot up 29% in April over last month and up 16% from same period last year.
Average Sales Price for a Single Family home was down 7% from March and down 35% from last year. No doubt Fort Lauderdale short sales and Fort Lauderdale REO Bank foreclosures played a significant part.
The Median Sales Price for a Single-Family home was down 4% from last month and down 30% from same time last year.
Single Family Pending Sales up 29% from March and up 87% from same period last year!
Single Family inventory is down 9% from March and down 33% from April 2008.
Closed Sales for Fort Lauderdale Condos in April were up 24% from March and up 17% from April 2008.
The Condo Average Sales Price was down 14% over last month and down 45% from same time last year.
The Condo Median Sales Price was down 11% from last month and down 45% from April 2008.
Pending Sales for Condos in May were up 26% from last month and up 73% from same period last year.
Condominium Inventory is down 6% from March and down 24% from April 2008.
3 straight months of positive numbers for the Fort Lauderdale Real Estate market has many believing a bottom has been reached. There are still short sales and bank foreclosures, and this will continue for awhile, however, I am seeing multiple offers more and more with cash buyers becoming very aggressive. I am also seeing qualified sellers seeking to take advantage of loan remodifications.
First time buyers are taking advantage of low interest rates as well as a possible tax credit.
Contact me today at 954-850-2397 if you are considering buying a home or condo or if you are interested in selling your home.
Buyers can begin the home search process by viewing the Fort Lauderdale MLS for available properties for sale including short sales and REO Bank Owned Foreclosures.
March Home Sales & Pending Sales Continue Upward | Inventory Falls
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