Fort Lauderdale Real Estate Blog

September 10, 2010

Fort Lauderdale Real Estate | Market Report – August 2010

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , — john sabia @ 4:10 pm

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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September 1, 2010

424 SW 14th Court | Fort Lauderdale Townhomes – Just Sold

Filed under: Florida real estate,Fort Lauderdale Condos,Just Sold,Real Estate News,South Florida Real Estate — Tags: , , , , — john sabia @ 5:11 pm

Conveniently located next to downtown Fort Lauderdale, I listed this 2 bedroom 2.5 bath townhouse at Croissant Springs Cluster.  Built in 2001 with a total of 1,583 square feet, this townhouse was offered turn-key furnished including exquisite art paintings.

Originally listed at $260,000, this Fort Lauderdale townhome was on the market just 57 days before closing at a final sales price of $245,000.

424 SW 14th Courtkitchen at 424 SW 14th CourtLiving area of townhouseCommunity Pool at 424 SW 14th Court

For more information about selling or buying homes, condos and townhomes for sale in Fort Lauderdale, contact me at 954.850.2397.

Buyers can begin their home search anytime by viewing Fort Lauderdale MLS listed properties with photos and detailed brochures.

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August 17, 2010

Fort Lauderdale Real Estate | Market Report – July 20120

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , , , , — john sabia @ 2:16 pm

As summer begins to wind down and kids are getting ready to return to school, much of the focus is on the upcoming mid-term elections in November.  With regards to real estate, the July Fort Lauderdale Real Estate Market Report is pretty much unchanged from last month.

The positives are closed sales for single family homes were up 2% from last month.  Available inventory for single family homes remained unchanged for 3 straight months (at eight months) and available condo inventory shrunk by one month to nine months.

July numbers for New Listing Inventory report and increase of 6% over last month with 1,707 new single family homes on the market and up 14% from July 2009.

New condo inventory totaled 1,969 new condo listings; up 3% from last month and up 6% from same period last year.

Total Inventory for both single family and condos totaled 5,766 new listings; up 2% from last month and up 3% from July 2009.

Closed sales in July totaled 738, up 2% from June and down 1% from same time last year.  Twenty-four percent of the sales were classified as REO Bank Foreclosures, down 4% from last month and down 35% from July 2009.

The Average Sales Price for a single family home in July was $274,363, down 12% from last month and unchanged from July 2009.

Median Sales Price in July dropped 9% from the previous month to $195,000, down 11% from same period last year.

Homes under Contract (Pending Sales) totaled 1,019 in July, down 1% from last month and down 12% from July 2009.

Available Inventory in July for single family homes was 6,195 properties, up 5% from  June and down 12% from July 2009.

Closed Sales for Fort Lauderdale condos totaled 836 in July; down 9% from the previous month and up 10% from July 2009.  Foreclosures accounted for thirty-four percent (34%) of these sales, up 10% from June and up 13% from same period last year.

The July Average Sales Price for condos was $125,158; down 3% from June and down 3% from July 2009.

The Condo Median Sales Price in June remained unchanged from the previous 2 months at $78,000, however, down 6% from July 2009.

Pending Inventory for condos in July totaled 1,138 condos under contract; down 6% from June and the same for July 2009.

Available July condo inventory shows a total of 8,598 condos for sale; up 2% from June and down 22% from July 2009.  Thirty-four percent (34%) are classified as bank foreclosures; up 6% from June and up 26% from July 2009.

Trends for Northeast and Southeast Fort Lauderdale in the following zip codes:

Single Family – Waterfront

 Single Family Non-Waterfront:

 All Condos Waterfront AND Non-Waterfront

For more information about selling or buying 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 – June 2010.

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August 4, 2010

Symphony Condo | Fort Lauderdale – Downtown

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate,Symhony Condo — Tags: , , , , — john sabia @ 3:25 pm

After over a year and several failed attempts at short sales, clients of mine finally found success purchasing a river-front condominium at The Symphony Condo in downtown Fort Lauderdale.

With stunning river and distant ocean views, this 2 bedroom condo is situated in one of the most sought after corner locations.

All condos at Symphony Fort Lauderdale feature elegant kitchens with stainless appliances and granite counters.  This particular unit featured 18 inch tile throughout, 2 balconies, 2 parking spaces and and an extra storage unit.  Originally listed at $489,000, the final sales price was $360,000.

Symphony Condo Fort Lauderdale

 

 Symphony Condo kitchenSymphony Living RoomSymphony ViewSymphony Marina

 For more information about buying or selling at Symphony or any other Fort Lauderdale Condos, contact John Sabia today at 954.850.2397.

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Atlantic Towers | Fort Lauderdale Condos

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate — Tags: , , , , — john sabia @ 2:38 pm

Searching for a beach community vacation property, clients of mine purchased this 2 bedroom 2 bath co-op at Atlantic Towers Fort Lauderdale boasting outstanding views of the ocean, beach and Port Everglades.   Originally listed over $300,000 and on the market for several months, this unit closed with a final sales price of $255,000.

Atlantic Towers

 Atlantic Towers KitchenAtlantic Towers Dining AreaAtlantic Towers Living RoomAtlantic Towers view

Atlantic Towers is located in the Harbor Beach (Extension) community of Fort Lauderdale at the Port Everglades Inlet.   A few steps to the beach or a short distance to shops and restaurants on Las Olas Boulevard and the Fort Lauderdale International Airport.  On any given day, residents enjoy a daily parade of boats and yachts and every once in awhile, a submarine can be spotted.

For more information about buying or selling at Atlantic Towers Co-op or any of the Fort Lauderdale Condos, contact John Sabia today at 954.850.2397.

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July 23, 2010

Fort Lauderdale Real Estate | Market Report – June 2010

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate,foreclosure properties — Tags: , , , , , , , — john sabia @ 5:29 pm

As it is typical with the summer months, the real estate market tends to slow down as kids are out of school and families go on vacation.  There are positives and negatives in reviewing the June Fort Lauderdale Real Estate Market Report.

While new inventory is down, total inventory is up and months of supply is unchanged.  While Average Sales Price is up, Median Sales price is down.  While total number of sales are down slightly, the percentage of REO bank foreclosure sales are up significantly.   Although there are some negatives, the positives are well, positive.

June New Listing Inventory reports 1,613 new single family homes were added to the inventory levels, down 10% from May and down 1% from June 2009.

Condo New Listing Inventory reports 1,910 new condo listings added in June, down 7% from last month and down 2% from last year.

Total Inventory for all property types in June totaled 5,658, down 7% from May and down 4% from same period last year.

Total number of Closed Sales for single family homes in June was 717.  Sales were down slightly at -4% from May and down 4% from June 2009.   REO Bank Foreclosures accounted for 25% of sales, up 14% from last month and down 14% from same time last year.

Average Sales Price for single family homes in June was $311, 094, up 9% from May ($286,496), and up 9% from June 2009 ($286,556).

Median Sales price (single family) was $215,000, down 2% from June ($220,000) and up 2% from same period last year.

Pending Sales for single family in June totaled 1,025, down 19% from last month and down 21% from June 2009.

June inventory reports 5,896 available homes for sale, up 3% from May and down 21% from June 2009.  Thirty-three (33%) are classified as bank foreclosures.

Closed Sales for Fort Lauderdale Condos totaled 914 in June, down 5% from May and up 15% from June 2009.  Foreclosures accounted 31% of these sales, up 3% from lat month and down 9% from same time last year.

Average Sales Price for Condos in June was $128,835, up 4% from last month ($123,392) and up 3% from June 2009 ($125,329).

Median Sales Price (condos) was $78,000, down 3% from June ($80,000) and down 3% from same time last year.

Pending Condo Sales in June totaled 1,215, down 17% from last month and down 2% from June 2009.

Inventory reports 8,427 available condos for sale, up 1% from May and down 26% from June 2009.  Thirty-two percent (32%) classified as bank foreclosures, down 33% from last month and down 11% from June 2009.

For more information about selling or buying real estate in Fort Lauderdale, contact me today at 954.850.2397.

Buyers can begin their home search by viewing Fort Lauderdale MLS available property listings.

Fort Lauderdale Real Estate Market – May 2010

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June 24, 2010

Fort Lauderdale Condos | WaterGarden Condo

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate,watergarden condo — Tags: , , , , — john sabia @ 3:51 pm

WaterGarden condo - Fort LauderdaleClients of mine hit the jackpot earlier this year purchasing this exceptional buy in downtown Fort Lauderdale at WaterGarden condo on a lower floor with a river view.

This transaction was neither a short sale nor a bank foreclosure, rather a realistic seller who understood the market.

This 1 bedroom- 1 bath Sungarden floor plan totals 820 square feet features floor to ceiling windows, granite counters and stainless appliances.

This condo offered for sale at $249,000 -  closed in January 2010 at $182,000.

Situated on the Nu River in downtown Fort Lauderdale, WaterGarden Condo  offers resort living with close proximity to restaurants and boutique shopts on Las Olas Boulevard.

WaterGarden Las Olas floor plans consist of 1, 2 and 3 bedroom condos and prices start from the low $200′s.

For more information about Fort Lauderdale Condos for sale whether you are buying or selling, contact John Sabia today at 954.850.2397.

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June 21, 2010

Fort Lauderdale Real Estate | Market Report – May 2010

Filed under: Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , , , — john sabia @ 3:10 pm

Median Sales Price and number of months of inventory are the numbers to look at for May’s Fort Lauderdale Real Estate Market Report.  In both Single Family homes and condominiums, the median sales price is up 10% from last month and the inventory levels are at 8 and 9 months of supply respectively.  Inventory levels are considered that of a typical balanced real estate market when supply is at 6-8 months.

New Listing Inventory in May reports 1,784 homes came on the market, up 7% from April and up 7% from May 2009.  There were 2,062 condominiums new to the market in May; up 3% from last month and up 1% from May 2009.  Total new Inventory for all property types in May equals 6,076.

Single Family closed Sales in May totaled 746.   This number is up 15% from April and down 4% from May 2009.  Twenty-two percent of these sales were classified as REO bank foreclosures, down 19% from last month.

Average Sales Price for a home in May was $286,496; up 10% from last month and up 11% from same period last year.

Median Sales Price for a home in May was $80,000; up 10% from April and unchanged from May 2009.

Pending Sales (homes under contract) totaled 1,268; up 4% from April and down 6% from May 2009.

Inventory in May reports there are 5,704 homes currently for sale; down 1% from April  and down 27% from May 2009.  Of this May figure, 51% are classified as foreclosures.

Closed Sales for Fort Lauderdale Condos in May totaled 967.  This number is down 6% from April and up 12% from same period last year.  Thirty percent are considered reo bank foreclosures.

Average Sales Price for condos in May was $123,392; down 6% from April and down 10% from May 2009.

Median Sales Price in May was $80,000; up 10% from last month and unchanged from same period last year.

Pending Condo Sales in May totaled 1,459; down 6% from last month and up 11% from May 2009.

Condominium Inventory in May reports there are 8,323 condos/townhomes presently for sale; down 2% from last month and down 29% from May 2009.   Of this May figure, 48% are considered reo bank foreclosures.

For more information about buying or selling real estate in Fort Lauderdale, contact me today at 954.850.2397.

Home buyers can begin their home search by viewing Fort Lauderdale MLS available property listings for sale by price and location.

Fort Lauderdale Market Report – April 2010.

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May 28, 2010

Fort Lauderdale Real Estate | Market Report – April 2010

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , , , — john sabia @ 4:46 pm

Shrinking inventory, increased closed sales and higher pending sales are gratifying news for April’s Fort Lauderdale Real Estate Market Report.  The median and average sales price, however, are both down for Single Family homes this month.  The condo average sales price is up while the median sales price for a condo is down.

Inventory levels for single family homes are at a 9 months supply while condo inventory levels are now at 8 months supply.  A typical balanced market is when inventory level is at a 6-8 months supply of properties for sale.

Closed Sales for Single Family homes in April were up 14% from last month and up 1% from same period last year.  Of these sales, 27% were REO bank foreclosures up 4% from last month.

The Average Sales Price for a home in April was down 18% from March and down 9% from April 2009.

Median Sales Price also down 2% from last month and down 5% from last year.

Pending Sales (homes under contract) up 5% from last month and up 2% from same time last year.

Inventory for homes in April was down 2% from last month and down 31% from April 2009.

Closed Sales for Fort Lauderdale Condos were up 14% in April over last month and up 1% from last year.  Of these sales, 30% were REO Bank Foreclosures, down 3% March.

The Average Sales Price for a condo in April was up 2% from previous month and up 10% from April 2009.

Median Sales Price for a condo down 3% from last month and down 6% from last year.

Pending Condo Sales (under contract) are up 6% in April over last month and up 37% from April 2009.

For more information about buying or selling real estate in Fort Lauderdale, contact me today at 954.850.2397.

Home buyers can begin your home search by viewing Fort Lauderdale MLS available property listings for sale sorted by price and location.

Fort Lauderdale Market Report – March 2010.

 

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May 5, 2010

Fort Lauderdale Real Estate | Market Report – March 2010

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , — john sabia @ 9:23 pm

The March 2010 Market Report reveals positive numbers for  the Fort Lauderdale Real Estate Market .

Inventory levels are shrinking, Average Sales Price and Median Sales Price are both up and number of closed sales in both single family and condos are up. With the positive increases in closed sales, surprising, the percentage of these sales that are short sales and reo bank foreclosures is down.

Inventory for both single family homes and condo/townhomes  is slightly up from what is considered to be a normal balanced market of 6-8 months.Single family home sales in March were up 6% as compared to February and up 10% from same period last year.  26% of these sales were classified as REO Bank Foreclosures.

The Average Sales Price for a home in March was up 18% from the previous month and up 3% from this time last year.The Median Sales Price for a single family home was up 10% from February, however, down 7% from March 2009.

Pending home sales were down 1% from February and up 25% from last year.Inventory for homes is down 2% from last month and down 36% from March 2009. Number of months of supply of homes for sale dropped 1 month to 10 months in March, down 42% from this time last year when there was an 18 months supply of homes for sale.

Closed Sales in March for Fort Lauderdale Condos and townhomes were up 16% from February and up 59% from same period last year.  Of these sales, 31% represented Condo Foreclosures.

The Average Sale Price for a condo in March was up 2% versus February and down 7% from March 2009.

The Median Sales Price was up 6% from last month and down 14% from same time last year.

Pending Sales for Condos in March were down 3% from February and up 63% from March 2009.Condo Inventory dropped 1 month in March to 10 months supply and down 58% from last year when there was a 23 month supply of condos for sale.

For more information about buying or selling real estate in Fort Lauderdale, contact me today at 954.850.2397.

Begin your home buying search by viewing Fort Lauderdale MLS available property listings for sale sorted by price and location.

Fort Lauderdale Real Estate Market Report -April 2010.

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