Home Sales Up - Pending Sales Up - Inventory Down

Posted by John Sabia on Saturday, March 21st, 2009 at 10:51am.

February Home Sales figures for Fort Lauderdale Real Estate report very positive news for home sales, pending sales and inventory levels for both single family and condominiums. Single Family home sales are up 5% from last month and up 47% from same time last year. Average sales price is up 3% from last month, however, it is down (-42%) from February 2008, no doubt due to the number of short sales and foreclosures. Single Family Pending Sales are up 36% from January and up 128% from same period last year.  This is incredible! Single Family Inventory is down (-4%) from January and down (-22%) from February 2008.  Awesome! Fort Lauderdale Condos  - February condo sales are up 16% from last month and up 24% from February 2008. Average Sales Price for Condos is up 14% from January, however, it is down (-32%) from February 2008. Condo Pending Sales are up 33% over last month and up 97% from same period last year.  Again, fantastic news! Condo Inventory is down (-2%) from last month and down (-18%) from February 2008. In December I posted Have we reached the bottom in the Fort Lauderdale Real Estate Market?  There are many opinions on this and many are conflicting.  If you remember, I quoted Suze Orman, "It is only when prices start to go up that we've reached a bottom." I will be watching the next few months closely to see if figures, specifically pending sales continue on an upward trend. If you have been on the fence about buying, it may be time to consider that interest rates are attractively low and home prices for the most part have rolled back to 2004 levels. If you are interested in homes for sale in Fort Lauderdale or considering selling your home, contact me today at 954-850-2397. You can search Fort Lauderdale MLS available property listings including Fort Lauderdale Foreclosures and Fort Lauderdale Short Sales. If you are an agent in another area noticing similar trends for your market, please post a link to your blog post in comments. Return to Fort Lauderdale Real Estate Home Page

John Sabia

2 Responses to "Home Sales Up - Pending Sales Up - Inventory Down"

Marc Rasmussen wrote: Hi John,

Glad to hear the good news. Seems like we are starting to see a dim light at the end of the tunnel. Our pending sales in Sarasota, Florida rose to the highest level in 3 years - http://www.luxurysarasotarealestate.com/blog/marc-rasmussen/pending-sales-rise-to-highest-level-in-three-years-in-february-2009/show/

Marc

Posted on Tuesday, March 24th, 2009 at 8:45pm.

Fort Lauderdale Real Estate Blog » Home Sales & Pending Sales Continue Upward | Inventory Falls wrote: [...][...] February Home Sales Up, Pending Sales Up and Inventory Down [...][...]

Posted on Friday, April 17th, 2009 at 9:33pm.

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