Fort Lauderdale Real Estate Blog

The Fort Lauderdale Real Estate market report - September 2009: shows a minimal decrease in closed sales for single family homes and condos as compared to August and a continued decline in inventory for both categories.  REO Bank foreclosures and Fort Lauderdale Short Sales still contribute to the overall number of closed sales.

Single-Family home closings in September were down just 3% as compared to closings in August and 40% from September 2008.  Of the total closings, twenty-nine percent were classified as REO Bank Foreclosures in Fort Lauderdale.

Single-Family Average Sales Price in September slightly increased by 1% over last month and down 22% from same period last year.

Single-Family Median Sales Price in September decreased by 8% over last month and down 23% from September 2008.

Pending Single-Family homes declined 10% over last month; however jumped 39% from same period last year.  Available Single-Family homes inventory decreased in September by 3% as compared to August and down 45% from last year.

The supply of available homes for sale remained the same as compared to August, however down 61% from September 2008.  REO Foreclosures made up 34% of single-family inventory in September.

Closed Sales for Fort Lauderdale Condos and townhomes in September were down just 3% as compared to August and rose 69% from September 2008.  Thirty-one percent of closings were Fort Lauderdale Condo bank foreclosures.

The Condominium Average Sales Price in September was down 4% as compared to last month and down 28% from September 2008.

The Condominium Median Sales Price in September was also down 4% from August and down 37% from same time last year.

Pending closings for Condos/townhomes in September down 7% from previous month and up 116% from September 2008!

Available inventory for condos & townhomes in September was down 5% from last month and down 34% from last year.  Inventory supply for condos and townhouses indicate there are 12 months of supply unchanged from last month however, drastically reduced from 30 months at this time last year.  Of this inventory, 30% is classified as REO Bank condo foreclosures.

The Fort Lauderdale Real Estate market continues to show signs of stabilizing and slowly recovering.  There are rumors of another waive of foreclosures and some pundits have expressed the possibility of another 30% drop in prices for South Florida which I do not think is likely to occur.

First time home-buyers may have good news.  It appears there is a good possibility the first time homebuyer tax credit may be extended into 2010.

For more information about buying or selling real estate in Fort Lauderdale, Florida contact me today at 954-850-2397.

Home Buyers can begin their home search online by searching Fort Lauderdale MLS available property listings for sale including short sales and foreclosures.

Fort Lauderdale Real Estate Market Report - August 2009Return to 

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Taking advantage of the First time home buyer tax credit, clients  of mine just recently bought this waterfront home in Plantation, Florida.

A 3 bedroom 2 bath pool home with canal views surrounded by tropical landscape and fruit trees set the perfect setting for Florida outdoor living.

Originally listed at $270,000,  this home closed at the beginning of September of this year with a Sales Price of $258,000.  The seller had previously paid $200,500 in 2002.

For more information about homes for sale in Plantation Florida; whether you are buying or selling, contact me today at 954-850-2397.

View Fort Lauderdale MLS  listings for homes and condos for sale including short sales and bank foreclosures.

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I sold this townhome  to very patient buyers.  Listed for sale as a short sale; the buyers originally contracted on this property in February of this year, and almost 6 months later, they finally closed at the end of August.

Mozaic Townhomes is located in the Lake Ridge area of Fort Lauderdale, and consists of 4 modern multiple story residences, all with walk-out terraces and 2 car garages.

1228 is a corner unit with lots of windows for natural light.  A European kitchen with stainless appliances.  Stained concrete floors on the first level, and carpet upstairs.  2 walk out terraces, one from the master bedroom and one off the loft area.

 Originally listed at $225,000, after many months of negotiating with the lenders, the Closed Sales Price was $232,000.  The seller had previously paid $680,000 in 2007.  Well worth waiting for!

The other corner (also a short sale), 1234 NE 12th Ave sold in June of this year for $265,000.

For more information about homes and townhomes for sale in Fort Lauderdale including Victoria Park homes and townhomes for sale, contact me today at 954-850-2397.

View Fort Lauderdale MLS available property listings for sale including homes, condos, townhomes and lofts.

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Clients of mine recently purchased this 3 bedroom condo at Sky Harbour East Condo located in the Harbor Beach area of Fort Lauderdale.

This spacious condo was remodeled and boasts approximately 1,904 square feet of living space with a 30 foot long terrace maximizing stunning views of beach, surf and city views.

Originally listed at $449,000, the Closed Sales Price was $390,000.

Sky Harbour sits along the Port Everglades inlet where one can watch a daily parade of boats of all sizes including cruse ships enter and leave Fort Lauderdale.

Sky Harbour Condo offers residents enjoy luxurious amenities including pool overlooking the inlet, posh club rooms, fitness center and security.

For more information about this property or other Fort Lauderdale condos for sale, please contact me today at 954-850-2397.

View Fort Lauderdale MLS available property listings for sale including homes, condos and townhomes.

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Looking for a great deal?  4901 NE 27th Terrace Lighthouse Point Florida is now listed for sale as a Short Sale priced at $1,375,000.

Originally listed at $1,795,000, This elegant French Chateau style 2-story residence features 4 bedrooms and 4.5 baths, 3 car garage situated on deep water with an invisible edge pool.

Custom designed with Italian state of the art kitchen cabinetry with built in double ovens, microwave, espresso coffee machine and Wolf cook-top.

Magnificent vein cut (24×24) marble flooring adorns the main living areas and Brazilian dark mahogony wood floors in every bedroom.  Top of the line Kholer shower features in the master bath with onyx mosaics throughout.

Seventy-five feet of  deep water dockage with a short cruise to the Atlantic Ocean.

Lighthouse Point Florida is located north of Fort Lauderdale and south of Boca Raton.

For more information on this home or other homes and condos for sale, contact me today at 954-850-2397.

Courtesy of Galleria International Realty

Please Note: Short Sales are subject to third-party Lender Approval with no guarantee of sale being approved at price agreed upon and subject to the owner of record accepting the terms of the short sale. It is also common for short sale properties to receive multiple offers and there is no guarantee of any offer being accepted.

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The Fort Lauderdale Real Estate market report- August 2009 reports positive numbers for closed sales and pending sales for both single family and condominium/ townhomes and a decline in inventory.  Short Sales and bank foreclosures still make up a large percentage of closed sales.

Closed Sales for Single Family homes were up 11% in August as compared to July and up 28% from same time last year.  43% of these sales were classified as REO bank foreclosures in Fort Lauderdale.

The Average Sales Price for Single Family homes in August was down 3% from July and down 29% from August 2008.

The Median Sales Price in August remained the same as July and was down 26% from same period last year.

Pending Sales for Single Family homes were up 12% from last month and up 49% from August 2008.

Available Inventory for Single Family homes decreased 7% in August as compared to July and down 45% from August 2009.  Supply of inventory decreased in August to 8 months from 10 months in July and down 57% from August 2008. Thirty-Five percent of available inventory are classified as either home foreclosures or short sales.

Closed Sales for Fort Lauderdale Condos and townhomes were up 16% in August as compared to July and up 28% from August 2008.  Of these closed sales in August, 54% were classified as Fort Lauderdale condo foreclosures.

The Average Sales Price for Condos in August was up 8% from last month and down 24% from August 2008.

The Median Sales Price remained the same in August as compared to July and down 26% from same period last year.

Pending Condominium Sales were up 16% in August over July and up 83% from August 2008.

Available Inventory for Condos/Townhomes in August were down 5% from July and down 32% from same period last year.  Supply of Condo/Townhome inventory is at 14 months, just up 2 months from July and down 57% from August 2008.

Overall, the real estate market appears to continue to show good signs of recovering.  We have many more months of positive numbers than negative and supply of homes for sale is significantly down from 1st quarter 2009.

Interest rates are still attractive and the first time homebuyer tax credit for first time home buyers is expiring December 1st.  Efforts are underway to extend the tax credit.

For more information about buying or selling residential real estate in Fort Lauderdale, Florida, contact me today at 954-850-2397.

Buyers can begin their home search online by searching Fort Lauderdale MLS available property listings for sale including short sales and foreclosures as well as tips and useful information for buying a home in Fort Lauderdale.

Fort Lauderdale Real Estate Market Report - July 2009

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