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: Fort Lauderdale MLS, Fort Lauderdale Real Estate News, homes for sale, john sabia, Market Report — 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!

		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%

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: Fort Lauderdale MLS, Fort Lauderdale Real Estate News, john sabia, Just Sold, Market Report, Recent home sales in Fort Lauderdale, waterfront homes — 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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July 15, 2010

Palm Aire | Palm Aire Condos – Pompano

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News — Tags: Fort Lauderdale Condos, Fort Lauderdale MLS, Fort Lauderdale Real Estate News, john sabia, palm aire, palm aire pompano — john sabia @ 3:51 pm

When I listed this 3 bedroom corner unit condo at Palm Aire, Pompano Beach, I was impressed by the 1,500+ square feet of living space under air conditioning. I knew a buyer would appreciate the spaciousness of the condo as well as the amenities this golfing community offered.

Originally listed at $159,000, and after several months on the market with price adjustments, this condo finally closed at $108,000; which represents about $70.00 per square foot.

For more information about selling your Palm Aire condo or to view Palm Aire condos for sale, contact me today at 954.850.2397.

Buyers can view other Fort Lauderdale condos for sale and single family homes for sale by searching the Fort Lauderdale MLS.

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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: downtown condos, Fort Lauderdale Condos, Fort Lauderdale MLS, john sabia, WaterGarden — john sabia @ 3:51 pm

Clients 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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October 30, 2009

Fort Lauderdale Real Estate Market Report | September 2009

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: Fort Lauderdale Condos, Fort Lauderdale MLS, Fort Lauderdale Real Estate News, inventory, real estate market, Recent home sales in Fort Lauderdale — john sabia @ 3:22 pm

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

Fort Lauderdale Real Estate - Home Page

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October 14, 2009

5260 SW 5th St | Plantation Florida – Sold

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate — Tags: closed sales, Fort Lauderdale MLS, Fort Lauderdale Real Estate News, Just Sold, Plantation Fl homes for sale — john sabia @ 1:00 pm

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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October 12, 2009

1228 NE 12th Ave Fort Lauderdale | Mozaic Townhomes – Sold

Filed under: Florida real estate,Fort Lauderdale Condos,Just Sold,South Florida Real Estate,short sales — Tags: closed sales, Fort Lauderdale MLS, Fort Lauderdale Real Estate News, Fort Lauderdale townhomes for sale, homes for sale, Just Sold, short sales, South Florida Real Estate — john sabia @ 4:57 pm

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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October 4, 2009

Fort Lauderdale Real Estate Market Report | August 2009

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate,foreclosure properties,short sales — Tags: closed sales, Fort Lauderdale Condos, Fort Lauderdale MLS, Fort Lauderdale real estate market, Fort Lauderdale Real Estate News, inventory, Recent home sales in Fort Lauderdale — john sabia @ 5:10 pm

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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September 10, 2009

1033 NE 17th Way | Villa Medici 1905- Fort Lauderdale

Filed under: Fort Lauderdale Condos,Just Sold,Real Estate News,South Florida Real Estate,short sales — Tags: Fort Lauderdale MLS, Fort Lauderdale Real Estate News, Fort Lauderdale Townhomes, recent sales, townhomes, Villa Mecici — john sabia @ 4:43 pm

Villa Medici Townhomes unit 1905 - Sold!

This was probably the easiest of short sales. The whole process took less than 3 months.

We brought the buyer for this 2 bedroom, 3bath townhome at Villa Medici in Fort Lauderdale with a roof-top terrace. This townhome is at the furthest west end of the community, has just under 2,000 square feet of living area with a 2-car garage.

Purchased in 2006 for $570,000; this townhome, a short sale, closed recently in August by our clients at $195,000.

Villa Medici townhomes, located in the Lake Ridge area of Fort Lauderdale, were built by Shelby homes in 2006. Villa Medici offers 118 residences modeled after an Italian Tuscan village with three floor plans; Raphael, DaVinci and Michealangelo.

For more information on Villa Medici townhomes for sale, contact me today at 954-850-2397.

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

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August 25, 2009

Fort Lauderdale Real Estate Market Report – July 2009

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate — Tags: closed sales, Fort Lauderdale Condos, Fort Lauderdale MLS, Fort Lauderdale real estate market, Fort Lauderdale Real Estate News, inventory, Recent home sales in Fort Lauderdale — john sabia @ 4:12 pm

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.