View of a Fort Lauderdale home sold in 2014

Fort Lauderdale Homes for Sale – Median Prices Soften

Fort Lauderdale Homes for Sale
Real Estate Update January 2015

In this Months Real Estate Guide to Fort Lauderdale Homes for Sale – we note that median prices overall AND for new listings are softening.

The median price for a Fort Lauderdale home for sale is down from $360,000 to $350,000 – a decrease of over $10,000 from August / September last year.

The median price for a new listing in January 2015 is down from $329,000 to $314,000 – a decrease of $15,000 from August / September 2014.

Important to note is the declining trend in median list price to square foot prices for new listings of Fort Lauderdale homes for sale – down now to $157.00 per square foot.

Median prices are based on 3 Bedroom 2 Bathroom Fort Lauderdale Homes for Sale.

Fort Lauderdale Real Estate
Homes for Sale – Market Analysis

Our January/February 2015 market analysis report for the 6114 Fort Lauderdale Homes currently for Sale is presented below:

Pricing  #Beds #FBaths SF/FF List Price LP$/SqFt
Average 3 2.5 2,462 $691,135 $215
Median 3 2 2,002 $350,000 $167

We can see from this report that the median price for a Fort Lauderdale home for sale is $350,000 – this being for a 3 bedroom 2 bathroom home of 2002 square feet.

Note the list price to square foot price at $167.00

Important to note however is that the median price in January 2015 is actually down by $10,000 from our August/September 2014 report.

The Aug/Sept market analysis report for the 6002 Fort Lauderdale Homes currently for Sale is presented below

Pricing #Beds #FBaths SF/FF List Price LP$/SqFt
Average 4 2.5 2,515 $661,244 $212
Median 3 2 2,075 $360,000 $167

We can see from this report that the median price for a Fort Lauderdale home for sale is $360,000 – this also being based on a 3 bedroom 2 bathroom home.

Fort Lauderdale Real Estate
Homes for Sale – New Listings Market Analysis

Our January/February 2015 market analysis report comparing median data for all the 6114 Fort Lauderdale Homes currently for Sale to the 1373 new listings is presented below:

 Median #Beds #FBaths SF/FF List Price LP$/SqFt
ALL Homes 3 2 2,002 $350,000 $167
NewListings 3 2 1,852 $314,000 $157

We can see from this report that while the median price for a Fort Lauderdale home for sale is $350,000 – the median price for a new listing is $314,000.

Both medians are based on 3 bedroom 2 bathroom Fort Lauderdale homes for sale.

Important to note is the decrease in median list price to square foot prices from $167.00 for all homes for sale to $157.00 for new listings!
(Fort Lauderdale homes listed for sale in the last 30 days)

Our Aug/Sept market analysis report for the 6002 Fort Lauderdale Homes or Sale compared to new listings at that time is presented below

Median #Beds #FBaths SF/FF List Price LP$/SqFt
ALL Homes 3 2 2,075 $360,000 $167
NewListings 3 2 1,930 $329,000 $161

Again we can see from this report that while the median price for a Fort Lauderdale home for sale in August was $360,000 – the median price for a new listing was down to $329,000.

Both medians being based on 3 bedroom 2 bathroom homes.

Important to note is the decrease in median list price to square foot prices for new listings from both periods – August / Sept at $161.00 to now in January 2015 at $157.00

Fort Lauderdale Real Estate
Pricing Guide

The Pricing Guide for Fort Lauderdale Homes for Sale is presented below.

Price Range Quantity
$149,999 or under 860
$150,000 – $199,999 605
$200,000 – $249,999 428
$250,000 – $299,999 571
$300,000 – $349,999 590
$350,000 – $399,999 604
$400,000 – $449,999 354
$450,000 – $499,999 318
$500,000 – $549,999 177
$550,000 – $599,999 194
$600,000 – $699,999 235
$700,000 – $799,999 184
$800,000 – $899,999 141
$900,000 – $999,999 87
$1,000,000 or over 796
Total 6,144

You can see from this report the breakdown of Fort Lauderdale Homes for sale by price points / price ranges.

We can also see the 796 Fort Lauderdale luxury homes for sale priced at $1 Million or over.

Important to note is that none of the levels of inventory is significantly “skewed” either higher or lower from our last report in Aug/Sept 2014

Fort Lauderdale Real Estate
New Listings of Homes for Sale

Our August/September 2014 market analysis report for the 1722 Fort Lauderdale Homes currently for Sale that are new listings is presented below.

These new listings are Fort Lauderdale homes that have been listed for sale in the last 30 days.

Pricing #Beds #FBaths SF/FF List Price LP$/SqFt
High 8 20 15,682 $14,995,000 $1,468
Low 0 0 520 $22,500 $0
Average 3 2 2,207 $458,302 $183
Median 3 2 1,930 $329,000 $161

 

We can see from this report that the average price for a home for sale here in Fort Lauderdale – a new listing that has just been listed for sale over the last 30 days is $458,302 and the median price is $329,000.

Both the average and median prices are based on 3 bedroom 2 bathroom homes for sale.

Kevin Wirth - Fort Lauderdale Realtor

My Summary

The softening trend in median prices – especially median list prices down to $157.00 – or $10.00 from the list price to square foot prices for all homes for sale at $167.00 is important.

The real estate market and real estate sales are largely driven by confidence – so if Realtors/Sellers are pricing new listings at lowers list prices to square foot prices and this is a trend – then we should all take note.

The median size for a 3/2 Fort Lauderdale home of 2002 square feet – using the median list price to square foot price for all home for sale at $167.00 gives us a list price of $334,334.

Using the lower list price to square foot price of $157.00  – down by $10.00 gives us a list price of $314,314.

If the trend continues and list prices to square foot prices decline another $10.00 – the list price for aq 2002 square foot home becomes $292,294.

A $40,000 reduction in list median price based on softening median square foot prices could serve to stall the strong recover we have seen in Fort Lauderdale homes prices over 2011 – 2014.

I hope you have enjoyed this post on Fort Lauderdale Homes for Sale by Kevin Wirth – Fort Lauderdale Realtor