Fort Lauderdale Real Estate - Market Report | January to March 2011

Posted by John Sabia on Thursday, May 12th, 2011 at 7:17pm.

First quarter Market Report for Fort Lauderdale Real Estate show continued improvement for the Fort Lauderdale Beach, Northeast and Southeast areas for both single family and condominium/townhouse properties. Inventory was down, Sales were up and pending sales were also up.  The number of properties for sale has trended down across the graph and there are almost 1,000 fewer properties for sale in March 2011 than there were in January 2010. [caption id="attachment_510" align="aligncenter" width="512" caption="Number of Homes For Sale, Sold, Pending and Newly Listed"]For Sale, Sold, Pending and New Listing Graph[/caption]

Foreclosures represented 0.04% of inventory and 24% of sales in the first quarter of 2011 :

[caption id="attachment_512" align="aligncenter" width="512" caption="Fort Lauderdale REO Foreclosures"]Foreclosures[/caption]

Short Sales made up approximately 13% of inventory and 38% of sales in the first quarter of 2011:

[caption id="attachment_513" align="aligncenter" width="512" caption="Fort Lauderdale Short Sales"]Short Sales Graph[/caption]

Average Price for a property for sale trended up, Average sales price bumped up and down and the Median Price Sold trended upward.

[caption id="attachment_514" align="aligncenter" width="512" caption="Average Price For Sale / Average Price Sold"]Average Price For Sale and Average Price Sold[/caption] [caption id="attachment_515" align="aligncenter" width="512" caption="Median Price Sold"]Median Price for Properties Sold[/caption]

Months of Inventory shrunk significantly.  Look at January 2010 and September 2010 when the months of inventory was 1.5 years.  Even from January to March of this year, months of inventory has reduced by almost half:

[caption id="attachment_516" align="aligncenter" width="512" caption="Months of Inventory"]Months of Inventory[/caption] There is still room for improvement, however, these are encouraging signs that the market is rebounding. If you are interested in buying or selling real estate in Fort Lauderdale, Florida, call me at 954.850.2397.

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John Sabia

2 Responses to "Fort Lauderdale Real Estate - Market Report | January to March 2011"

Fort Lauderdale Waterfront Homes | Jan – March 2011 Market Report « Fort Lauderdale Real Estate Blog wrote: [...][...] Fort Lauderdale Real Estate – Market Report | January to March 2011 (johnsabia.com) [...][...]

Posted on Wednesday, May 25th, 2011 at 5:13pm.

233 Garden Court – Marina Village Townhomes | Lauderdale By the Sea, Florida « Fort Lauderdale Real Estate Blog wrote: [...][...] Fort Lauderdale Real Estate – Market Report | January to March 2011 (johnsabia.com) [...][...]

Posted on Monday, June 13th, 2011 at 5:20pm.

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