The Greater Fort Lauderdale / Broward County real estate market is continuing its shift from a buyer’s market to that of a seller’s market, due to a low inventory of homes listed for sale. This is great news for folks who have seen the value of their homes plummet in recent years. The news is a bit of a shock to folks in other parts of the country who still expect to scoop up a waterfront home for pennies on the dollar. Haven’t they been reading our blog?!
Following is a market snapshot of the Greater Fort Lauderdale real estate market, comparing June 2011 with June 2012:
- The number of Greater Fort Lauderdale / Broward County homes listed for sale decreased 27% (12,381 vs. 9,081).
- The number of Greater Fort Lauderdale / Broward County homes sold decreased 14% (2,683 vs. 2,319).
- The average amount of days a Greater Fort Lauderdale / Broward County home was listed for sale decreased 20% (92 vs. 74).
- The final sales price of a Greater Fort Lauderdale / Broward County home increased from 93% to 94% of the original listed price.
If you like looking at charts, here they are!
Number of Homes For Sale vs. Sold vs. Pended (April 2011 – June 2012):
Average Days a Greater Fort Lauderdale / Broward County Home Was Listed For Sale & Sales Price vs. Original Listed Price: