As we begin the final month of the third quarter, looking ahead to the autumn and winter months, real estate activity has begun to pick up again. There are some good signs worth pointing out when reviewing the Fort Lauderdale Real Estate Market Report for August.
The Average Sales Price has increased for both single family homes and condo sales from last month. The Median Sales Price increased by double digits for home sales, however it decreased slightly for condo sales.
Pending Sales (under contract) in August were up for both homes and condos.
New Inventory increased slightly for both homes and condos. Presently there is a 10 month supply of single-family homes for sale and a 12 month supply of condominium listings.
New single-family homes on the market increased by 2% over last moth and 7% from August 2009.
New Condo properties on the market increased by 3% from July, however, down 2% from same time last year.
Total Inventory for both homes and condos totaled 5,983 new listings; up just 4% from last month and down 2% from August 2009.
Closed sales for single-family homes were down 12% from last month and down 21% from last year. Of these sales, twenty-six percent were REO Bank Foreclosures; up 8% from last month and down 40% from August 2009.
The Average Sales Price for a home in August was $293,128; up 7% from July and up 10% from same time last year.
Median Sales Price jumped 13% from last month to $220,000 and up 1% from August 2009.
Pending Homes (under contract) totaled 1,080; up 6% from last month and down 17% from August 2009.
Available inventory totaled 6,268 homes for sale; up 1% from last month and down 11% from August 2009. Thirty-five percent are bank owned.
Closed Sales for Condos totaled 753 in August; down 10% from July and down 15% from August 2009. Condo Foreclosures accounted for thirty-seven percent (37%); up 9% from previous month and down 31% from same period last year.
Average Sales Price in August for a condo was $126,882; up 1% from July and down 9% from August 2009.
Median Sales Price was $72,200; down 7% from previous month and down 13% from August 2009.
Pending Sales for condos totaled 1,276; up 12% from July and down 9% from same time last year.
Available condo inventory totaled 8,674 listings for sale; up 1% from last month and down 21% from August 2009. Thirty-six percent are bank owned.
Northeast & South East Fort Lauderdale – Waterfront Single Family
Single Family Non-Waterfront
Northeast & Southeast Fort Lauderdale – All Condominiums
Fore more information about buying or selling real estate in Fort Lauderdale, contact me today at 954.850.2397.
Buyers can begin their home search by viewing available Fort Lauderdale MLS listings.
Fort Lauderdale Real Estate Market Report – July 2010.
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