Fort Lauderdale Real Estate Market Report - June 2009

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

The Fort Lauderdale Real Estate market for June 2009 continues to report positive numbers over same period last year, less inventory on the market for sale, however a slight decrease in pending sales and closed sales for Homes for sale in Fort Lauderdale and Condos for sale in Fort Lauderdale. Single Family Closed sales were down just 3% in June as compared with last month, however, sales were up 21% over same period last year.   29% of homes sold in June were bank foreclosures in Fort Lauderdale as compared to 44% last month.  MLS doesn't report closings for Fort Lauderdale Short Sales at this time. The Average Sales Price for single family homes was up 11% over June and down 30% from same time last year.  Fort Lauderdale REO bank foreclosures and Short Sales in Fort Lauderdale continue to contribute to this decline. Single family median sales price in June was off 17% from last month, and down 29% from June 2008. Pending Sales for single family homes down 3% over last month, however, rose 88% from June 2008. Available inventory for single family homes down 5% as compared to last month and down 40% from same period last year.  There is presently 10 months of available inventory, down 51% from June 2008.  40% of this inventory is classified as foreclosures and short sales. Closed sales for Fort Lauderdale Condos were down 8% in June as compared to the previous month, however, up 22% from June 2008.  34% of these sales were condo foreclosures in Fort Lauderdale as compared to 36% last month. The average sales price for condos was down 8% over May and down 38% from June 2008. Median sales price remained the same month over month and down 45% from same time last year. Pending sales for condos in June were down 5%, however spiked up 96% from June 2008. Available inventory for condos in June down 3% from May and down 27% from June 2008.  There is presently 14 months of available inventory.  36% of this inventory is classified as condo foreclosures and condo short sales. While June numbers report slight decreases after 4 straight months of positive trends, I think the overall picture is still good news for the real estate market. Interest rates are still relatively low and time is running out for the tax credit for first time home buyers. For more information about buying or selling, contact me today at 954-850-2397. Buyers can begin searching homes and condos for sale by viewing the Fort Lauderdale MLS for available property listings including short sales and foreclosures. May 2009 Fort Lauderdale Real Estate Market Trend Continues. Return to Fort Lauderdale Real Estate - Home Page source: Realtor Association of Greater Fort Lauderdale

John Sabia

1 Response to "Fort Lauderdale Real Estate Market Report - June 2009"

Fort Lauderdale Real Estate Blog » Fort Lauderdale Real Estate Market Report - July 2009 wrote: [...][...] Fort Lauderale Real Estate Market Report - June 2009 [...][...]

Posted on Tuesday, August 25th, 2009 at 5:12pm.

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