Lauderdale By The Sea Real Estate Market Update
Single Family Market Update: July's numbers show there were 6 closed Sales for single family homes for sale in Lauderdale By The Sea. The median sales price was $525,000 and the average sales price was $797,333. Sales volume totaled $4,784,000 for the monthy of July. The percentage of sales price as compared to original list price was 85.7%. The median time to contract was 118 days.
Pending Sales for single-family homes in July totaled 6. During the month, there were 6 new listings added to the total inventory of 22 homes for sale, with 4.5 months of inventory which indicates it's still a seller's market.
Condo-townhouse Market: During the month of July, there were 17 closed sales for townhouses and condos in Lauderdale By the Sea. The median sales price was $292,500 and the average sales price was $329,095. Sales volume totaled $5,594,000 during July. The percentage of sales price versus original list price was 90.3%. The median time to contract was 118 days.
Pending Sales for condos and townhouses in July totaled 18. There were 17 new properties added to the total inventory of 90 listings bringing the total months of inventory to 5.4 months, again, still tilting toward the seller's advantage. (six months by most experts indicates a balanced real estate market).