Fort Lauderdale Beach Real Estate

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

Posted by fortlauderdalebeachrealestate on June 5, 2010

The market in South Florida has continued to gain momentum and offers incredible opportunities to those folks looking to purchase real esate.    I just received the numbers for Broward County for May-GREAT NEWS!  Reduced inventory continues and increase in condo sales and slight dip in single family homes and in increase in median sales prices.

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New Listings

Single Family-1,784, 7% higher than 09′
Condo/Townhome-2,062, 1% higher than 09′
Total all property types-6,076, 3% lower than 09′

Total Available Inventory

Single Family-5,704, 27% lower than 09′
Condo/Townhouse-8,323, 29% lower than 09′

Single Family Sold

746 closed sales, down 4% from 09′
Median sales price, $220,000, up 22% from 09′

Condo/Townhome Sold

967 closed sales, 12% higher from 09′
Median sales price, $80,000, same as 09′

Pending Inventory or homes under contract

Single family homes are down 6% over 2009
Condos are up 11% over 2009

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 8 month supply of single family homes on the market(down 20% from the previous year) and a 9 month supply of condos on the market(down 36% from the previous year).

Jon

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