Buyers are getting comfortable with older condo buildings and as a result they are getting some amazing deals. Condos are now selling at 92.7% of list price, the lowest list to sell ratio in 13 years.
The winter season is off to a good start this year with single family closed sales up 4.4% and median prices up 7.4%.
We expect the usual increase in demand this winter, which should keep our inventory in check, further propping up median sale prices.
Median sale prices for oceanfront condos are mixed across the markets, but overall median sale prices are up 6% since last year in NE Broward County.
Inventory levels on Fort Lauderdale’s waterfront are technically favoring buyers, but we still wouldn’t call it a buyer’s market. Check out the October reports.
The Florida Association of Realtors consolidates local association data from across the state and provides the previous month’s data to member Realtors through the SunStats reporting system. We then analyze
Sales Slightly Down, Median Sale Prices Relatively Flat South Florida home sales were down slightly from last year and still well below the average August volume. Despite lower interest rates,
Fort Lauderdale’s Condo Inventory Down, Median Prices Flat At the start of the season in early February, we had 13 months of supply in the oceanfront condo market. We now
Inventory levels on Fort Lauderdale’s waterfront are technically favoring buyers, but we wouldn’t call it a buyer’s market.
Sales Volume Down, Median Prices Remain at Record Highs South Florida home sales were down from last year and still well below the average June volume. It seems affordability and
July 26th, 2024 Mortgage rates have come down to their lowest levels since January of this year. The 15 year fixed rate mortgage dropped to just above 6% while the
Inventory Levels Continue to Grow Throughout South Florida A slower than average winter/spring season provided an increase in housing inventory throughout South Florida. This is a welcome event for buyers
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