The Fort Lauderdale Real Estate Market report for July 2009 shows some slight decreases from last month for total number of closed sales and pending sales for both single family homes for sale in Fort Lauderdale and condos and townhomes for sale in Fort Lauderdale .
Closed Sales for Fort Lauderdale Condos and townhomes were down 4% in July as compared to June, however, closed sales are up 35% from July 2008 numbers. 39% of these closed sales were Condo foreclosures in Fort Lauderdale, up from 34% in June.
The Average sales price for condo/townhomes in July was up 3% from June and down 39% from same time last year.
Median sales price in July was up 4% from June and down 46% from July 2008.
Pending Condominium Sales down 2% in July as compared with June, however, up 147% from July 2008.
Available inventory for condominiums/ townhomes in July was down 3% from June and down 29% from July 2008. Months of Available inventory in July remained at 14 months and 27% of this number represents Fort Lauderdale condo foreclosures and Fort Lauderdale condo short sales.
Single Family Closed Sales were down just 1% in July as compared to June and up 22% from July 2008. 37% of single family closed sales in July were bank foreclosures in Fort Lauderdale as compared to 29% in June.
Average Sales Price for Single Family homes was down just 4% from the previous month and down 30% from same period last year. Short Sales and bank foreclosures continue to affect average sales price.
Median Sales Price up 4% in July and down 27% from July 2008.
Pending Sales for homes in July down 11% as compared to June, however up 128% from July 2008.
Available inventory for Single Family homes down 5% in July from June and down 42% from July 2008. Months of Available inventory for homes remains at 10 months and 35% of this figure represents home foreclosures and home short sales.
Despite the slight declines in July for pending and closed sales, available inventory continues to shrink and overall, the real estate market for the past 6 months has steadily shown signs of a modest rebound.
Interest rates are still relatively low and the tax credit for first time home buyers will end December 1st.
For more information about buying or selling real estate in Fort Lauderdale, Florida; contact me today at 954-850-2397.
Buyers can always begin their search online for homes, condos and townhomes by searching the Fort Lauderdale MLS for available properties for sale including short sales and foreclosures.
Fort Lauderale Real Estate Market Report – June 2009
Fort Lauderdale Real Estate Market Report – August 2009
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