Fort Lauderdale Real Estate Blog

October 17, 2010

Fort Lauderdale Homes For Sale | Market Report – 3rd Quarter 2010

Filed under: Florida real estate,Just Listed,Just Sold,Market Report,Real Estate News,South Florida Real Estate,short sales — Tags: , , , , — john sabia @ 12:58 pm

Fort Lauderdale Homes For Sale

Third Quarter Market trends for non-waterfront Fort Lauderdale Homes For Sale in Northeast and Southeast Fort Lauderdale; and Fort Lauderdale Beach communities.

Inventory in September increased by 2.5% from August and was up 4.7% from January of this year.  New Listing inventory increased 7.8% month over month and was up 9.5% as compared to January.  Pending homes (under contract)  increased 1.4% from August to September; however, they were down 6.4% as compared to January.   Closed Sales were up 27.7% month over month and were up 53.8% as compared to January!

For Sale/ Sold/ Pending/ New Listing - Non Waterfront

    1 Month   9 Months    
  Aug 10 Sep 10 % Change Jan 10 Sep 10 % Change
For Sale 520 533 2.5% 509 533 4.7%
New Listing 128 138 7.5% 126 138 9.5%
Sold 47 60 27.7% 39 60 53.8
Pending 72 73 1.4% 78 73 -6.4%

Of these figures, inventory for home foreclosures for sale was down 7.9% in September from  August with a total of 35 properties classified as bank foreclosures. However, inventory is up 59.1% as compared to January.  Closed Sales classified as reo bank owned were up 27.3% in September from August and were up 40% as compared to January.

Inventory for Short Sales was up 16.1% in September from August with a total of 108 properties; and up 10.2% as compared to January.  Closed Sales classified as short sales were down 25% in September from August; and were down 25% as compared to January.

The Average Price per square foot for a non-waterfront home in September was $191.00, up 8.6% from August; and up 21% as compared to January 2010.

In September, the Average Days on the Market for a non-waterfront home was 98 days; up 24.1% from August and was down 14% as compared to January.  Sales Price versus Listing Price differential ranged from 89 – 98%.

The Average Closed Sales Price for a non-waterfront home in September was $351.00; up 38.7% from August and was 36% as compared to Janaury.  Median Sales Price in September was $232.00; up 24.1% from August and up 36.5% as compared to January 2010.

In September, there were 8.9 months of non-waterfront  homes for sale, down 19.7% from August; and down 31.9% as compared to January.  Pundits agree that a normal balanced market with regards to inventory is when there are 6-8 months of inventory.

Fort Lauderdale Waterfront Homes | Market Report – 3rd Quarter 2010

Fort Lauderdale Condos | Market Report – 3rd Quarter 2010

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

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October 15, 2010

Fort Lauderdale Waterfront Homes | Market Report – 3rd Quarter 2010

Filed under: Real Estate News — Tags: , , , , , , — john sabia @ 3:54 pm

Fort Lauderdale Waterfront Homes

Third Quarter Market Trends for Fort Lauderdale Waterfront Homes on the Beach, Northeast and Southeast Fort Lauderdale neighborhoods.

September Inventory decreased by 0.6% from August and was down 7.1% from January.  Closed Sales were up 9.5% in September and up 91.7% as compared to January.  Pending Sales were down 12% in September and down 18.5% compared to January

For Sale/ Sold/ Pending/ New Listing - Waterfront

    1 Month   9 Months    
  Aug 10 Sep 10 % Change Jan 10 Sep 10 % Change
For Sale 357 355 -0.6% 382 355 -7.1%
New Listing 51 38 -25.5% 46 38 -17.4%
Sold 21 23 9.5% 12 23 91.7%
Pending 25 22 -12% 27 22 -18.5%

January – September figures:

Average Price Per Square foot increased 20.7% in September over August and up 40.5% as compared to January.

Average Days on the Market decreased 16% in September from August and increased 18.8% as compared to January. Sales Price versus Listing Price percentage has ranged from 84-92%.

Average Sales Price in September was 1.2 million; up 49.3% from August and up 40.2% as compared to January. Median Price for a sold home in September was $750,000; up 25% from August and up 5% as compared to January.

Waterfront Foreclosures and short sales are not a significant factor.

In September, there were 15.4 months of available waterfront homes for sale; down 9.2% from August and down 51.5% from January when there were 31.8 months of inventory.

Fort Lauderdale Homes For Sale | Market Report – 3rd Quarter 2010

Fort Lauderdale Condos | Market Report – 3rd Quarter 2010

For more information about buying or selling waterfront homes for sale in Fort Lauderdale, contact John Sabia at 954.850.2397.

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September 16, 2010

Lauderdale By Sea Real Estate | Market Report – 2nd Quarter 2010

Filed under: Fort Lauderdale Real Estate News,Lauderdale by the Sea,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , — john sabia @ 6:05 pm

In addition to the Market Reports that I blog for Fort Lauderdale Real Estate, I have decided to dig deeper into the numbers and provide detailed market reports and trends for specific neighborhoods.

As real estate is local, there can be vast differences from one neighborhood versus another as well as significant differences from the larger more general area.

Whether you are buying or selling, understanding market trends will benefit you greatly.

I will attempt to provide these on a quarterly basis.  The first of these quarterly reports is Lauderdale By the Sea area.

Lauderdale By the Sea Real Estate Market Trends

Waterfront homes: From January through June, available waterfront homes for sale in Lauderdale by the Sea has been about 30+ homes for sale.    In June and later months, there has been an increase of available homes for sale.  Closed Sales: 3 homes sold from January thru March.  7 homes sold from April thru June.  Pending Sales: A total of 6 homes went under contract from January thru March and another 6 from April thru June.

Average Price Per Square Foot

Average Days on the market had significantly reduced from almost 2 years to under a year for the first six months. In the same time period, homes have sold from 75% to 90% of List price.

While the average List Price of a home has remained constant, the Average Sales Price has steadily increased.

The Median Price of sold homes has increased steadily over the first 6 months of the year.

Months of Inventory for the first 6 months fluctuated with a significant dip in May.

Lauderdale by the Sea waterfront Foreclosures are not a significant issue.

Waterfront Short Sales in Lauderdale by the Sea are not significant.

Non Waterfront Single Family Homes: Homes for sale in Lauderdale by the sea from January thru June have decreased.  Closed Sales: 6 homes sold from January thru March.  8 homes sold from April thru June.  Pending Sales:12 homes went under contract from January thru March and 5 homes went pending from April thru June.

Average Price Per Square Feet.

The Average time on the Market for a home from January thru May was 4-5 months.  I’m not sure what happened in June.  Homes sold for 90% of the asking price.

The Average List Price has remained consistent for the first 6 months, the Average Sales Price has fluctuated up and down.

Median Sales Price has fluctuated.

Months of Inventory decreased during the first 3 months; however, it has continued to increase significantly since May.

Lauderdale By the Sea Foreclosures are not a significant issue.

Lauderdale by the Sea Short Sales are not a significant issue.

For more information about buying or selling a home in Lauderdale by the Sea, contact me at 954.850.2397.  Buyers can begin their home search by viewing Fort Lauderdale MLS listed properties with photos and detailed brochures.

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source: all reports presented are based on data supplied by the Realtor Association of Greater Fort Lauderdale.  Neither the Association, their members nor their MLSs guarantee or are in anyway responsible for its accuracy.  Data maintained by the Association or their MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

September 14, 2010

1248 Bayview Circle | Weston Florida Real Estate

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Just Sold,South Florida Real Estate,Weston Real Estate — Tags: , , , , — john sabia @ 2:22 pm

After several unsuccessful attempts at purchasing a short sale, a client of mine successfully purchased this bank owned waterfront Weston, Florida home for sale.*

This spacious 3 bedroom home is situated in the gated community of Hibiscus Island and offers impressive lake views.

Originally listed at $279,180, this home closed with a final sales price of $262,500.

1248 Bayview Circle Weston

interior of 1248 Bayview Circle

exterior photo of 1248 Bayview Cir

1248 Bayview cir - Lake view

 

For more information about buying or selling Weston Real Estate, please contact me 954.850.2397.

Buyers can begin their home search by viewing available Weston MLS listings with photos and details.

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*property was listed with Team Home Realty

August 9, 2010

Victoria Park Townhomes | Victoria Park – Fort Lauderdale

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate,Victoria Park — Tags: , , , — john sabia @ 4:00 pm

After originally looking at townhomes at Village East and after a few attempts at short sales, a client of mine found the perfect townhome for sale in Victoria Park.

At the south end of Victoria Park and just a few blocks to the shops and restaurants at Las Olas and downtown Fort Lauderdale, this quiet and secluded corner townhome with a huge private back yard is 1 of just 6 townhouses in the community.

On the market for only 78 days, this townhome closed at $185,000.

Victoria Park Townhome - front

Victoria Park Townhouse - living area

 Victoria Park Townhouse - back yard

 Whether or buying or selling, for more information about Victoria Park townhomes for sale or Victoria Park homes for sale, contact John Sabia today at 954.850.2397.

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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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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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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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November 17, 2009

Fort Lauderdale Real Estate | Market Report – October 2009

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , — john sabia @ 6:19 pm

Fort LauderdaleLooking at the Fort Lauderdale Real Estate Market Report for October 2009, there is a continued trend for leveling off to a more balanced market.  Closed Sales for both Single Family homes and Condominiums are in the positive territory; REO Bank foreclosures and Fort Lauderdale Short Sales contributing to approximately 1/3 of the overall sales.  Inventory for single family homes is back to levels associated with a normal real estate market while condominium inventory is slightly above a normal market level.

Closings for Single Family Homes in October were up 6% compared to last month and up 36% from same period last year.  Of the total closings, 33% were classified as REO Bank foreclosures in Fort Lauderdale.

The Average Sales Price for a Single Family Home in October dropped slightly by 1% as compared to September and down 25% from October 2008.

The Median Sales Price in October for a Single Family Home was up 5% from last month and down 16% from same period last year.

Pending Sales in October dropped just 4% from September and up 59% from October 2008.

Single Family Available Inventory down 5% from last month and down 46% from same period last year.  Number of Months of available inventory dropped 1 month to 7 months in October, down 61% from same time last year when there was 18 months of available inventory.  REO bank foreclosures and short sales make up 1/3 of available inventory.

Closed Sales in October for Fort Lauderdale Condos and townhouses dropped just 3% as compared to September and up 66% from same period last year.  Of these closed sales, 37% represented Fort Lauderdale Condo Foreclosures.

The Average Sales Price for a Condo in October was up 3% from last month and down just 11% from October 2008.

Median Sales Price was up 6% in October over September and down 28% from same period last year.

Pending Condo Sales were up 1% from last month and up 110% from October 2008!!!

Available Condo inventory dropped 3% in October from September level and down 35% from same period last year.  At present there is an 11 month supply of condominium inventory, down from 12 months in September.  This time last year there was a 28 month supply of condos on the market, which represents a reduction of 61%.  Of the present Condo inventory, 1/3 of these properties are either short sales or bank foreclosures.

With inventory levels decreasing and total number of sales increasing, it sure looks as though a balancing out in the market place is taking place.  We are leaps and bounds ahead of where we were this time last year.  Interest rates are still very competitive and the tax credit has been extended into 2010 for First Time homebuyers.

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 including short sales and foreclosures.

Fort Lauderdale Real Estate Market Report – September 2009

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