Fort Lauderdale Home Sales | Market Update Year to date

Posted by John Sabia on Thursday, October 20th, 2011 at 3:45pm.

Homes For Sale in Fort Lauderdale

Inventory for available Fort Lauderdale Homes for sale has decreased by 27.3% year-to-date.  Closed single family home sales are up 9.3% and pending sales are up 29.4% for same period. [caption id="attachment_703" align="aligncenter" width="300" caption="For Sale / Sold / Pending"]Non waterfront Homes for sale, pending and closed[/caption] Average Price per square foot has ranged from $147 to $188; up 10.6% year-to-date. [caption id="attachment_704" align="aligncenter" width="300" caption="Average Price per Sq Foot"]Average price per square foot - non waterfront homes[/caption] Average Days on the Market has decreased by 2.2% to just under 3 months.  Sales Price versus Listed Price is up 1.1% at 92%. [caption id="attachment_705" align="aligncenter" width="300" caption="Days on Mkt - Sold/ List Price %"]Average Days on market[/caption] The Average List Price for a non-waterfront home ranged from $465,000  - $520,000; up 11.8% year-to-date.  The Average Closed Price ranged from $252,000 - $350,000 year-to-date; up 23%.  The Median Sales Price ranged from $170,000 - $279,000; up 52.9% year-to-date. [caption id="attachment_706" align="aligncenter" width="300" caption="Average Price For Sale / Sold"]Average Price For Sale / Sold[/caption] [caption id="attachment_707" align="aligncenter" width="300" caption="Median Sales Price"]Median Sales Price[/caption] Total Months of Inventory is down 33.5% with a 6.2 months supply of available homes for sale.  A normal balanced market is 6-8 months supply of homes for sale. [caption id="attachment_708" align="aligncenter" width="300" caption="Months of Inventory"]Months of available Inventory[/caption] Inventory for Home foreclosures in Fort Lauderdale were less than 5% and decreased 51.7% year to date.  Fort Lauderdale Short Sales were approximately 20% of inventory and have decreased by 34.3%. [caption id="attachment_709" align="aligncenter" width="300" caption="Home Foreclosures"]Home Foreclosures[/caption] [caption id="attachment_710" align="aligncenter" width="300" caption="Short Sales"]Home Short Sales[/caption] Comparing August 2011 vs August 20110
  • Inventory is down 30%
  • Closed Sales are up 25%
  • Median Sales Price is up 40.7%
  • Months of Inventory down -44%
In summary the trend for Fort Lauderdale homes is very good.  Sales continue to be strong while distressed properties are not significant.  The Median Sales Price has increased sharply and months of available inventory are within the normal range. Sellers need to be mindful of pricing a home competitively and buyers who are on the fence may want to consider whether it is time to jump into the market. Until next month... Note: The above commentary is the personal opinion of the author only and should not be construed as “financial advice”.  The market changes from day to day.  Always consult with a professional realtor® before making any decisions about Real Estate. Return to Fort Lauderdale Real Estate

John Sabia

Leave a Comment

Have a Question?

Contact Us

Follow Us