Fort Lauderdale Real Estate Market Trends
For most people, their home is the largest asset in their portfolio. If you are now, or will be in the market to purchase or sell a home or condo in Fort Lauderdale, Florida, you'll want to follow trends to stay informed of what is happening in the Fort Lauderdale real estate market and select an agent who understands these trends. Contact us if we can help you with your next purchase or sale in the Fort Lauderdale area.
Single Family Update
February's numbers indicate there were 78 closed sales as compared to 102 last year (-23.5%). The median sales price was $397,500 (Feb 2018: $374,500/ +6.1%). The average sales price for a house in February was $781,091 (Feb 2018: $614,296/ +27.2%). Total Sales volume amounted to $60,925.085 (Jan 18: $62,658,166/ -2.8%). The percentage of sales price to original list price was 91.1% (93.4% Jan 2018/ -2.5%). The median time to contract was 82 days (78 days Jan 18/ +5.1%).
In February there were 136 pending sales (135 in Jan 18/ +0.7%). New listings totaled 196 as compared to 237 same time last year (-17.3%) added to an existing inventory of 844 properties (793 in Jan 2018/ +6.4%). Total months of inventory was 7.2, up 9.1% from 6.6 months in January 2018 (market favors buyers).
In February, there were 120 closed sales as compared to 154 the year before (-22.1%). The median sales price was $264,500, down (-15.9%) from $314,500 in february of last year. The average sales price was $395,705, down again (-15.8%) from same period last year. Total sales volume for this market was $46,693,808, down significantly (-35.5%) from February 2018. the percentage of Sales price to original list price remained the same at 91.7%. The median time to contract was down (-17.9%) to 101 days from 123 days last year.
Pending sales totaled 175, up (+5.4%) from 123 for the same time in 2018. There were 241 new listings added, down (-15.7%) from 286 last year to a total inventory of 1,227 properties, just barely ticking up (+0.4%) from last year's 1,222 properties. The total monts of inventory decreased slightly from 8.7 months the prior year to 8.1 months (-6.9%) which indicates a market that still favors buyers.
SINGLE FAMILY UPDATE
There were 28 active listings for signle-family homes and 28 listings were pending (under ocntract). There were a total of 102 closed sales, with a median sales price of $400,750. The highest sales price was $3,859,999 and the lowest sales price was $128,000.
90 listings were cancelled and and 44 listings expired..
During the month of January, there were 18 active listings for waterfront home in Fort Lauderdale and Lauderdale By The Sea. NO pending sales. There were 25 closed sales, with a median sales price of $1,336,000. The highest sales price was $3,859,999 - While the lowest sales price was $140,000.
1 property was taken off the market temporarily and 14 listings expired.
In January, there were 10 active listings and 3 properties went under contract (pending sale). There wer a total of 77 closed sales with a median sales price of $322,500. The highest non water-front sales price was $2,300,000 - while the lowest sale price was $128,100.
2 properties were taken off the market temporarily and 30 listings expired..
During the month of January, there were 55 active condo listings and 12 listings went under contract (pending sale). There were a total of 181 closed sales with a median sales price of $274,000. The highest sales price was $4,000,000 - while the lowest sales price was $97,500.
4 listings were taken off the market temporarily and 76 listings expired.
Fort Lauderdale Beach Area (including Lauderdale by the Sea)
There were 28 active listings and 11 properties went under contract (pending sale). There were a total of 80 closed sales with a median sales price of $320,000. The highest sales price was $4,000,000 - and the lowest sales price was $100,500.
7 listings expired.
Downtown Fort Lauderdale Condo Market
There were a total of 12 active condo listings and 1 property went under contract. A total of 32 closed sales with a median sales price of $420,000. The highest sales price downtown was $1,350,000 - while the lowest sales price was $110,000.
24 listings were cancelled. 1 listings was taken off the market temporarily and 16 listings expired.