Ft Lauderdale Real Estate News 7/19/16
Fort Lauderdale Home Prices Appreciate 7.3% in Past Year
Florida's housing market reported higher median prices and fewer days to a contract in June, according to the latest housing data released by Florida Realtors. Closed sales of single-family homes statewide totaled 27,086 last month – slightly higher (0.4%) than the June 2015 level of 26,973 closed sales.
"Florida's housing market is experiencing tight supply and pent-up demand," said 2016 Florida Realtors President Matey H. Veissi. "That's affecting the pace of sales and putting pressure on statewide median prices. Florida's economic growth, rising jobs outlook and acclaimed quality of life continue to draw new residents eager to call the Sunshine State home."
Home sellers continued to get more of their original asking price at the closing table in June: Sellers of existing single-family homes received 96.3 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.6 percent (median percentage).
The statewide median sales price for single-family existing homes last month was $225,000, up 10.8 percent from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in June was $164,000, up 8.6 percent over the year-ago figure.
In June, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 55th month in a row, Veissi noted. The median is the midpoint; half the homes sold for more, half for less.
According to the National Association of Realtors (NAR), thenational median sales price for existing single-family homes in May 2016 was $241,000, up...