Fort Lauderdale Beach Real Estate

Jon C. Mumford, REALTOR-ASSOCIATE, CRS, ePRO, GRI, GREEN, RECS, SFR, SRES

Archive for July, 2008

June 2008 Sales Statistics

Posted by fortlauderdalebeachrealestate on July 14, 2008

New Listings

  • Single Family-2,311(4% lower than 07′, a year ago it was 16% lower)
  • Condo/Townhome-2,537(10% lower than 07′, a year ago it was 7% lower)
  • Total all property types-7,764(3% lower than 07′, a year ago 2% lower)

Total Available Inventory

  • Single Family-12,472(1% higher than 07′, a year ago it was 22% higher)
  • Condo/Townhouse-15,628(8% lower than 07′, a year ago it was 33% higher)
  • Total all Property Types-37,227(4% lower than 07′, a year ago it was 31% higher)

Single Family Sold

  • 620 closed sales, 3% up from 07′, a year ago it was down 28%
  • Median sales price, $295,000, down 23% from last year

Condo/Townhome Sold

  • 649 closed sales, 12% up from 07′, a year ago it was down 32%
  • Median sales price, $146,500, 25% down from 07′, a year ago it was down 8%

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 20 month supply of single family homes on the market(down 1% from the previous month) and a 24 month supply of condos on the market(down 12% from the previous month)

 Want to know what this means to you?  Give me call, 954 562 4991

Jon

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Positive signs in the South Florida real estate market

Posted by fortlauderdalebeachrealestate on July 2, 2008

I wanted to share some positive news with you for our real estate market in South Florida.  Unfortunately the media doesn’t always paint an accurate picture, as they often speak of the market on a national level and real estate is local and each market is different.  I’ve included a link here for you to view specific numbers from 2002 until present, this information comes from actual sales data in our MLS system and is provided by Richard Barket, CEO of the Realtor Association of Greater Fort Lauderdale. Broward MLS Statistics

Key indicators for what is happening in the market include; average DOM(days on market), closed and pending sales, median sales price and inventory levels.  For single family homes sales have been trending up, days on market have decreased and the median sales price although it has taken a little dip has been remaining fairly steady since the beginning of the year.  Pending sales are currently up 19% from 2007 and inventory levels hasve remained relatively the same since the fall of last year.  For condos sales have also been trending up since the beginning of the year, days on market have decreased and the median sales price has remained steady since the beginning of the year.  Pending sales for condos are up 13% over 2007.

It is predicted for sales to continue to increase in the second half of 2008.   Although there will certainly in some cases be more price adjustments, all of the key indicators point to an improving market.  For those of you sitting on the sidelines and waiting for the bottom to hit, from what I can see we are there as you can see from the actual “real” data provided in that link above.

Jon

 

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