Fort Lauderdale Real Estate Market Positve Trend Continues

Posted by John Sabia on Wednesday, July 8th, 2009 at 9:18am.

For the 4th straight month, Home Sales in Fort Lauderdale continue in positive territory. May 2009 figures report double digit positive percentages for both Single Family Home sales and Condo Sales. Pending sales for both categories up double digit percentages as well, while total inventory for Single Family and Condo sales continues to shrink. Closed sales for Single Family Homes for sale in Fort Lauderdale  rose 21% in May from the previous month and were up 65% from this time in 2008.  44% of homes sold in May were Fort Lauderdale Foreclosures. The Single Family Average Sales Price in May was down 10% from last month and down 32% from last year.  Again, Fort Lauderdale REO Bank Foreclosures and Short Sales in Fort Lauderdale contributed to this decline. The Single Family Median Sales Price off 15% from April and off 39% from same period last year. Pending Sales for Single Family homes increased 12% over April and up 107% from same time last year. Inventory for Single Family homes decreased 7% from previous month and decreased 38% from last year. Closed sales for Condos in Fort Lauderdale up 21% in May and up 65% from last year. Average Sales Price in May for condos down 10% over last month and down 32% from same time last year. Median Sales Price for condos dropped 15% from April and down 39% from same period last year. Pending Sales for condos in May up 16% over last month and up 112% from last year. Inventory for Condos decreased 5%  in May and is down 27% from last year. With 4 straight months of numbers in positive territory for the Fort Lauderdale Real Estate market continues to signal the bottom may have been reached.  There will still be short sales and bank foreclosures for awhile and buyers and investors continue to snatch these properties up. Interest rates are still relatively low and the tax credit is still attractive for first time buyers. For more information about buying or selling, contact me at 954-850-2397. Buyers can begin their home search by viewing the Fort Lauderdale MLS for available property listings for sale including short sales and foreclosures. April 2009 Fort Lauderdale Real Estate Market Continues Upward Trend Return to Fort Lauderdale Real Estate Home Page

John Sabia

2 Responses to "Fort Lauderdale Real Estate Market Positve Trend Continues"

Nikki wrote: Thank you for your good article! I read with great pleasure!

Posted on Thursday, July 9th, 2009 at 5:16pm.

Fort Lauderdale Real Estate Blog » Fort Lauderdale Real Estate Market Report - June 2009 wrote: [...][...] May 2009 Fort Lauderdale Real Estate Market Trend Continues. [...][...]

Posted on Tuesday, July 28th, 2009 at 10:07am.

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