As you can see from the above chart, closed sales in May for homes for sale in Fort Lauderdale totaled 1,518 as compared to 1,580 on year ago (-3.9%). There were a total of 289 cash transactions. The median Sales Price in May was $355,000 up 6% from $335,000 last year. Median Days on the market was 34 days, down 10.5%. In May there was a 4.1 Month supply of inventory for homes, up ever so slightly from last year.
Closed Sales for Condos for sale in Fort Lauderdale in May totaled 1,667 up 1.2% from 1,647 same period last year. There wee 888 cash transactions. The Median condo sales price in May was $168,000 up 5.7% from $159,000 same time last year. Median Days on the Market in May was 45 days, down 16.7%. In May, the inventory level for condos was a 5.8 month supply, down 3.3% from last year.
Experts agree a balanced market is 6 months supply. Less than 6 months indicates a seller's market. More than 6 months signifies a buyer's market.
To begin the home-buying or home-selling process, contact us today. Search listings below:
Fort Lauderdale Neighborhoods