Category Archives: Home Sales

Number of Homes for Sale – Declines 23% in 3 Months

Fort Lauderdale Homes
June 2015 Update

The number of Fort Lauderdale homes for sale declined from just over 1300 homes for in March 2015 to just on 1009 home in June 2015 – a dramatic drop of 23%

Based on MLS data there is now just less than 6 Months of Supply for all Fort Lauderdale homes for sale – a very encouraging real estate indicator!

The bulk of the sales activity is currently occurring in smaller, lower priced homes for sale – with a median of just 36 days on market!

As a direct result median prices for Fort Lauderdale home for sale are on the rise and I predict that we will see some strong increases in median prices over the next few months

Foreclosure activity for Fort Lauderdale Home for sale is also down – with a drop in the number of foreclosure for sale – another very encouraging real estate indicator!

Fort Lauderdale
Homes for Sale

The number of Fort Lauderdale homes for sale has dropped by nearly 300 units in just over 3 months.

 Month Homes for Sale
March 2015 1300+
June 2015 1000+

We can see from the summary report above how the market has moved from just over 1300 homes for sale in early March 2015 to just over 1000 homes for sale now in June 2015.

This amounts to a 23% decrease in the number of Fort Lauderdale homes for sale.

The median sales data for Fort Lauderdale homes currently for sale is presented below.

Beds/Baths SF/FF List Price LP$/SqFt
3 / 2 1,861 $496,950 $262

We can see from this that the median price for a Fort Lauderdale home for sale at time of writing is $496,950this being for a 3 bedroom 2 bathroom home of 1861 square feet.

It is important to compare this data with both recent sales and pending sales – as well as to foreclosure activity.

Fort Lauderdale
Recent Home Sales

There have been 390 homes sold over the last 90 days / 3 months

The market summary report showing median prices for Fort Lauderdale homes sold over the last 90 days is presented below.

Beds/Baths SF/FF Sale Price SP$/SqFt
3 / 2 1,639 $312,250 $193

We can see from this report that the median sales price for a Fort Lauderdale home recently sold has been $312,250this being for a 3 bedroom 2 bathroom home of 1639 square feet.

The median days on market for recent sales has been 49 days!

Fort Lauderdale
Pending Home Sales

There are current 569 Fort Lauderdale homes for sale that are under contract and are pending sale.

Beds/Baths SF/FF List Price LP$/SqFt
3 / 2 1,451 $194,900 $136

We can see from this report that the median sales price for a Fort Lauderdale home pending sale is $194,900 – this being for a 3 bedroom 2 bathroom home of 1451 square feet.

The median days on market for pending sales is 36 days!

Fort Lauderdale
Home Foreclosures

We are seeing a decrease in foreclosure activity for distressed Fort Lauderdale homes for sale – as we can see in this market summary below.

 REO’s Number Beds/Baths Price
Active 67 3 / 2 $177,500
Pending 91 3 / 2 $108,200
Recent Sales 81 3 / 2 $146,000

There are currently 67 Fort Lauderdale home for sale that are foreclosures – with 91 foreclosures pending sale.

In the last 3 months there have been 81 Fort Lauderdale homes for sale sold as foreclosures!

Foreclosure prices are on the rise with the median list price at $177,500.

 

Kevin Wirth Realtor

My Thoughts / Summary

Demand for Fort Lauderdale homes for sale is strong – our warm weather and beautiful beaches attracting buyers from both far and near.

Recent median sales and median pending sales prices at $312,250 and $194,900 respectively – are in stark contrast to the median price for Fort Lauderdale homes currently for sale at $496,950.

Days on market at 36 days for pending sale is fast and on top of this foreclosure activity is down.

Add to this “mix” that the overall inventory for Fort Lauderdale homes for sale has also declined by 23% – and I hope you can see why I am predicting a surge in median prices for homes for sale over the next few months! 

I hope you have enjoyed my post on Fort Lauderdale Homes for Sale  – Kevin Wirth Realtor – 954-459-0337

Read Our Earlier Posts

Home Prices Surge in Feb

Fort Lauderdale Homes
March 2015 Update

Fort Lauderdale home prices surged upwards in February – with median sales prices rising by over $25,000 from January 2015.

Based on Feb sales Median prices are up 5% from 2014 in just 2 months!

Median square foot prices also rose to their highest level at $145.00 per square foot.

The sales price to list price remained stable at 96% and days or market was a healthy 51 days.

Fort Lauderdale
Home Sales

Fort Lauderdale home sale for February 2015 were strong with median prices surging ahead.

The market analysis report for 2015 homes sales is presented below

Mth  Beds/Baths SF/FF Sale Price
Feb 3 / 2 1,852 $285,292
Jan 3 / 2 1,772 $260,000

We can see that the median price for homes sold in Fort Lauderdale over the last 2 months has been

  • January 2015 – $260,000 – this being for a 3 bedroom 2 bathroom home of 1772 square feet
  • February 2015 – $285,292 – this also being for a 3 bedroom 2 bathroom home – a larger home of 1852 square feet

February sales put us back on track after a very sluggish January where median sales prices actually fell below the median set for all of 2014.

Luxury Fort Lauderdale home in Rio Vista

Fort Lauderdale
Median Sales Prices

 Here are the median sales prices for Fort Lauderdale homes from 2011 to 2014.

 Med Beds/Baths SF/FF Sale Price
2014 3 / 2 1,818 $270,000
2013 3 / 2 1,847 $250,000
2012 3 / 2 1,807 $201,000
2011 3 / 2 1,748 $180,500

We can see from this report the median sales prices for Fort Lauderdale homes in:

  • 2014 were $270,000this being for a 3 bedroom 2 bathroom home of 1818 square feet
  • 2013 were $250,000 this being for a 3 bedroom 2 bathroom home of 1847 square feet
  • 2012 were $201,000this being for a 3 bedroom 2 bathroom home of 1807 square feet
  • 2011 were $180,500this being for a 3 bedroom 2 bathroom home of 1748 square feet

We can see from this report that median sales prices for Fort Lauderdale homes over these 4 years have also surged ahead – increasing by $89,500 or 49.5%.

2015 Sales
Square Foot Prices

Here is our square foot summary report for Fort Lauderdale homes sold in 2015

Mth  SP$/SqFt
Feb $145
Jan $136

We can see from this report that the median square foot prices for Fort Lauderdale homes sold so far this year

  • January 2015 – $136.00 per square foot
  • February 2015 – $145.00 per square foot

Important to note is that the median sales price to square foot price is also up – from $136.00 to $145.00 – an increase of $9.00 per sq ft.

We can see from the summary report below how square foot prices have risen.

2014 2013 2012 2011
$141 $130 $110 $105

Again note that January home sales prices had us all a little rattled as square foot prices had fallen from $141.00 in 2014 to $136.00.

 

% Sales to List Price

Another important real estate indicator is how much  buyers are paying for Fort Lauderdale homes – based on the percentage of sales price to list price paid by buyers.

Our 2015 market analysis report for this is presented below

Mth  SP$/LP$
Feb 96%
Jan 96%

We can see from this report that the median sales price to list price for Fort Lauderdale homes sales:

  • January 2015 – 96%
  • February 2015 – 96%

Important to note is that the sales price to list price has remained constant at 96%which is consistent with median sales price to list price percentages from 2011 through to 2014

This means if a Fort Lauderdale new construction home for sale is listed at $300,000 – then based on median sales data the home would sell for 96% of that amount or $288,000 – based on MLS data.

 

Days on Market

Days on market for Fort Lauderdale homes for Sale is an important indicator on how our real estate market is preforming.

Here is the market analysis report for Days on Market based on home sales in 2015

Mth  Days on Market
Feb 51
Jan 49

We can see from this report that the median days on market for a Fort Lauderdale Homes for Sale has been

  • January 2015 – 49 Days
  • February 2015 – 51 Days

Days on market is the time from when the home was listed for sale till the home sold AND closed.

51 Days in February is strong and a positive indicator reflecting strong demand for Fort Lauderdale homes!

Kevin Wirth Realtor

My Thoughts / Summary

In our January 2015 post it was with some alarm we noted median sales prices for Fort Lauderdale Homes were softening!

So it is great to report that in February 2015 median sales prices for Greater Fort Lauderdale Homes are up!

Again it is very important to note the increase in median square foot prices up from $136.00 to $145.00

My thoughts are that we are going to see square foot prices continue to rise and to pass the $150.00 square foot mark in the new few months.

I hope you have enjoyed my post on Fort Lauderdale Homes for Sale  – Kevin Wirth Realtor – 954-459-0337

Read Our Earlier Posts

Fort Lauderdale Homes – Jan / Feb 2015 Sales Update

Fort Lauderdale Home Sales
Median Prices Up for 2014

 Prices for Fort Lauderdale Home sales in 2014 have risen from a median of $255,000 in January of 2014 to a median of $285,000 in December 2014 – an increase of $30,000 or a rise of 11.7%

If we look at median prices for December 2014 and compare them to median price in December 2011 – the median price at $285,000 is up by $100,000!

Despite a softening in list prices for Fort Lauderdale homes currently for sale in January 2015 – this 11.7% increase in 2014 combined with a $100,000 increase when comparing Dec 2011 to Dec 2014 is encouraging news and a very positive indicator for Fort Lauderdale real estate .

Continue reading Fort Lauderdale Homes – Jan / Feb 2015 Sales Update

Fort Lauderdale Homes – Sept / Oct Sales Update

Fort Lauderdale Home Sales
Median Prices Surge

 Prices for Fort Lauderdale Homes have been on the rise and if we track monthly median prices – prices are up over 14.4% so far this year alone.

The median sales price for Fort Lauderdale homes for August was $290,000 – this being based on a 3 bedroom 2 bathroom home.

This is encouraging news and a very positive Fort Lauderdale real estate trend.

Continue reading Fort Lauderdale Homes – Sept / Oct Sales Update

Fort Lauderdale Homes – Aug / Sept Sales Update

Fort Lauderdale Home Sales
Median Prices Up 12%

 Prices for Fort Lauderdale Homes have been on the rise and if we track monthly median prices – prices are up over 12% this year alone.

The median sales price for Fort Lauderdale homes for July was $285,000 – this being based on a 3 bedroom 2 bathroom home.

This is encouraging news and a very positive Fort Lauderdale real estate trend.

Continue reading Fort Lauderdale Homes – Aug / Sept Sales Update