Fort Lauderdale Real Estate | Market Report - March 2010

Posted by John Sabia on Wednesday, May 5th, 2010 at 10:23pm.

The March 2010 Market Report reveals positive numbers for  the Fort Lauderdale Real Estate Market . Inventory levels are shrinking, Average Sales Price and Median Sales Price are both up and number of closed sales in both single family and condos are up. With the positive increases in closed sales, surprising, the percentage of these sales that are short sales and reo bank foreclosures is down. Inventory for both single family homes and condo/townhomes  is slightly up from what is considered to be a normal balanced market of 6-8 months.Single family home sales in March were up 6% as compared to February and up 10% from same period last year.  26% of these sales were classified as REO Bank Foreclosures. The Average Sales Price for a home in March was up 18% from the previous month and up 3% from this time last year.The Median Sales Price for a single family home was up 10% from February, however, down 7% from March 2009. Pending home sales were down 1% from February and up 25% from last year.Inventory for homes is down 2% from last month and down 36% from March 2009. Number of months of supply of homes for sale dropped 1 month to 10 months in March, down 42% from this time last year when there was an 18 months supply of homes for sale. Closed Sales in March for Fort Lauderdale Condos and townhomes were up 16% from February and up 59% from same period last year.  Of these sales, 31% represented Condo Foreclosures. The Average Sale Price for a condo in March was up 2% versus February and down 7% from March 2009. The Median Sales Price was up 6% from last month and down 14% from same time last year. Pending Sales for Condos in March were down 3% from February and up 63% from March 2009.Condo Inventory dropped 1 month in March to 10 months supply and down 58% from last year when there was a 23 month supply of condos for sale. For more information about buying or selling real estate in Fort Lauderdale, contact me today at 954.850.2397. Begin your home buying search by viewing Fort Lauderdale MLS available property listings for sale sorted by price and location. Fort Lauderdale Real Estate Market Report -April 2010. Return to Fort Lauderdale Real Estate - Home Page

John Sabia

1 Response to "Fort Lauderdale Real Estate | Market Report - March 2010"

Fort Lauderdale Real Estate Blog » Fort Lauderdale Real Estate | Market Report - April 2010 wrote: [...][...] Fort Lauderdale Market Report - March 2010. [...][...]

Posted on Friday, May 28th, 2010 at 5:55pm.

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