Fort Lauderdale Real Estate Market Report And News For May 2008
June 2, 2008
Check out the news regarding the local sales activity for the market. This information is very important if you are looking to buy or sell a home in this market.Â
Current Inventory Of Single Family Homes In The Fort Lauderdale Real Estate Market
There are currently 2181 single family homes on the market and for sale in the Fort Lauderdale real estate area.
Of the 2181 single family homes on the market and for sale in the Fort Lauderdale real estate area:
- 173 of the single family homes on the market are priced under $150,000.00
- 515 of the single family homes on the market are priced between $151,000.00 and $250,000.00
- 372 of the single family homes on the market are priced between $251,000.00 and $350,000.00
- 205 of the single family homes on the market are priced between $351,000.00 and $450,000.00
- 130 of the single family homes on the market are priced between $451,000.00 and $550,000.00
- 110 of the single family homes on the market are priced between $551,000.00 and $650,000.00
- 87 of the single family homes on the market are priced between $651,000.00 and $750,000.00
- 67 of the single family homes on the market are priced between $751,000.00 and $850,000.00
- 72 of the single family homes on the market are priced between $851,000.00 and $999,000.00
- 447 of the single family homes on the market are priced over $1,000,000
Foreclosure Activity In The Fort Lauderdale Real Estate Market
Of the 2181 single family homes for sale in the Fort Lauderdale real estate market, 110 of those are in some stage of foreclosure or already a bank owned homes.
Pending Sales Activity In The Fort Lauderdale Real Estate MarketCurrently there are 169 single family homes under contract and pending closing with the lowest priced home under contract being listed at $65,000.00 and the highest priced home under contract being listed at $4,900,000.00.
Closed Sales Activity In The Fort Lauderdale Real Estate MarketDuring the month of May 2008, there were 55 closed sales in the Fort Lauderdale real estate market. The lowest priced home closed at $77,500.00 and the highest priced home closed at $15,500,000.00.
Comparable Sales Volume AnalysisDuring the month of April 2008, there were 94 closed sales in the Fort Lauderdale real estate market. The lowest priced home closed at $28,500.00 and the highest priced home closed at $2.825,000.00.
During the month of May 2007, there were 91 closed sales in the Fort Lauderdale real estate market. The lowest priced home closed at $140,000.00 and the highest priced home closed at $5,500,000.00.
This indicates that the Fort Lauderdale real estate market experienced a drop of 40% in closed sales volume from the same period one year ago.
This also indicates that the Fort Lauderdale real estate market experienced a drop of 42% in closed sales from the previous month.
Comparable Closed Sales Price AnalysisDuring the month of May 2008, the median price of a closed home in the Fort Lauderdale real estate market was $380,000.00 and the median home took 78 days to sell.
During the month of May 2007, the median price of a closed home in the Fort Lauderdale real estate market was $414,000.00 and the median home took 83 days to sell.
During the month of April 2008, the median price of a closed home in the Fort Lauderdale real estate market was $325,000.00 and the median home took 77.5 days to sell.
This indicates that the Fort Lauderdale real estate market experienced a price drop of 8.8% from the same period one year ago.
This indicates that the Fort Lauderdale real estate market experienced a price increase from the previous month which is due in great part to a luxury mansion selling at a price of $15,500,000.00 which obviously skewed the median home price for May 2008.
These numbers indicate that the Fort Lauderdale real estate market is healthier than that of other locations in Broward County. Tomorrow we will release the numbers on condominium sales and later today we will have the numbers on all of Broward County.
We break the numbers here first and detail them like no other source in the Fort Lauderdale real estate market so that you can have all of the pertinent information necessary to make your purchase or selling decisions.
Below you can click on the search bar to find and review homes for sale in the Fort Lauderdale real estate market. If you have any questions regarding these numbers or about a property for sale in the Fort Lauderdale real estate market, please do not hesitate to give me a call at 954-566-0923 which is my office or 954-709-7461 which is my direct cell number.
You can also fill out the form below or email me at robins@robinashley.com.
The data contained in this report does not reflect sales that took place without an agent and this information was obtained from the Southeast Florida MLS and is not warranted.
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If you are interested in learning more about buying a home or condo in Fort Lauderdale or anywhere in South Florida; or if you need any information about the Fort Lauderdale real estate market, please feel free to contact me and it would be my pleasure to assist you.You can contact me at the number shown below or please feel free to contact me by the form below and I, or one of my assistants, will be sure to get right back to you within a few hours, if not sooner.
If you are inquiring about a specific property shown on this site, please include the address of the property in the comment section of the contact form below.
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Robin Sing-Cunningham
robins@robinashley.com
Access USA Realty
Local Fort Lauderdale | South Florida : 954-709-7461
My Assistants:
Barry Johnson: bjohnson@robinashley.com