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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.

Fort Lauderdale Homes
Median Sales Prices – Monthly

 The market analysis report for Fort Lauderdale Homes sale month by month  – from January to August is presented below.

Median #Beds #FBaths SF/FF Sale Price SP$/SqFt SP$/LP$ Days on Market
Aug 3 2 1,886 $290,000 $144 96.77 35
July 3 2 1,858 $285,000 $146 96.7 36
June 3 2 1,864 $279,500 $143 96.58 37
May 3 2 1,815 $270,000 $142 96.84 35
April 3 2 1,818 $265,000 $138 96.74 37
March 3 2 1,766 $264,000 $142 96.31 38
February 3 2 1,747 $250,000 $139 96.48 41
January 3 2 1,811 $253,450 $137 96.36 38

 

We can see from this report how prices have risen.

In January 2014 – the median price was $253,450 – this was for a 3 bedroom 2 bathroom home – a home of 1811 square feet.

By April of 2014 the median price had climbed to $265,000 – an increase of over$11,000 or 4.5% – this was also for a 3 bedroom 2 bathroom home – a home of 1818 square feet

By August (last month) the median price had climbed further to $290,000 – this was also based on a 3 bedroom 2 bathroom home – a home of 1886 square feet.

The increase from a median of $253,405 here in january to $290,000 now in August represents and increase of $36,595 or 14.4% in just 8 months.

August Median Homes Prices
2011- 2014

It is interesting to compare monthly median sales prices for months by year.

I present below the median prices for August from 2011 to 2014.

Month/Yr #Beds #FBaths SF/FF Sale Price SP$/SqFt SP$/LP$ Days on Market
August2014 3 2 1,886 $290,000 $144 96.77 35
August2013 3 2 1,879 $265,000 $136 96.98 30
August2012 3 2 1,832 $211,000 $114 96.44 36
August2011 3 2 1,787 $187,000 $107 96 48

 

We can see from this report that the median price for homes in August 2011 was $187,000.

Now in August 2014 the median price for a home is $290,000 – over $100,000 more or a 55% increase in sales prices in just 3 years 

We can see this trend also reflected if we look at Fort Lauderdale homes prices by year.

Fort Lauderdale Homes
Median Homes Prices 2011- 2014

It is interesting to compare monthly median sales prices for Fort Lauderdale Homes from 2011 to 2014 – Year to Date (YTD)

Median #Beds #FBaths SF/FF Sale Price SP$/SqFt SP$/LP$ Days on Market
2014YTD 3 2 1,816 $270,000 $142 96.64 37
2013 3 2 1,847 $250,000 $130 96.79 32
2012 3 2 1,807 $201,000 $110 96.21 43
2011 3 2 1,748 $180,500 $105 95.75 54

 

We can see from this report that the median sales price for Fort Lauderdale homes in 2011 was $180,500.

We can see how this had increased so by 2013 the median sales price for Fort Lauderdale Homes was $250,000 – an increase of $69,500 or 38.5%

We can also see that we seem set for another increase here in 2014 with the median sales price (year to date) at $270,000 – up $20,000 from $250,000 for 2013.

Kevin Wirth - Fort Lauderdale Realtor

 My Thoughts

Fort Lauderdale Real Estate has shown a strong recovery since the Housing Market Collapse of 2006 – 2008 – 2010.

This is especially the case with Fort Lauderdale Homes.

Fort Lauderdale is a great city and with our warm weather and relatively low home prices – real estate attracts not only locals but also many home buyers from other states here in the USA, from Canada and also from overseas.

Based on my 20 years experience as a realtor I am expecting and predicting prices for Fort Lauderdale Homes will rise…

 I predicted in our last post that home price will be up of 15% by the end of the year.

Based on Augusts results are we heading for a 20% increase?

I hope you have enjoyed my post of Fort Lauderdale Homes and recent home sales – Kevin Wirth Fort Lauderdale Realtor.