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Ft Lauderdale Real Estate News 04/25/14


fort lauderdale home prices up 11% for single family, condos 26%


Home prices in South Florida continued to level off in March, data from local Realtor boards show.

Broward County's median price for existing single-family homes last month was $268,500, up 11 percent from a year ago, the Greater Fort Lauderdale Realtors said Tuesday.

In Palm Beach County, the median price was $265,000, 6 percent higher than March 2013, according to the Realtors Association of the Palm Beaches.

Last year, median prices in both counties were increasing by more than 20 percent, but the market has softened as investors pull back on purchases and more sellers list their homes for sale.

The slowdown is actually healthy for the market and not indicative of another housing bubble, brokers and analysts say.

“We’re not seeing the huge jumps, which is good,” said Dean Ehrlich, an agent in Palm Beach and Broward counties. “We can’t outgrow what people can afford.”

Broward had 1,210 closed sales last month, up 1 percent from a year earlier. Palm Beach County sales rose 8 percent, to 1,369 from 1,266 in March 2013.

While single-family home prices are easing, median prices for existing condominiums remain strong. Broward's existing condo price hit $120,000 in March, up 26 percent from a year ago. Palm Beach County's median was $122,000, a 21 percent increase.

© 2014 Sun-Sentinel



OUR TAKE

Gotta love the pessimistic tone of this article. According to the March numbers the median price for a single family home in Broward county only rose 11% year-over-year.

What a bummer.

That should tell you a lot about just how dynamic the Fort Lauderdale Real Estate market can be, when 11% appreciation is a disappointment. The guy has to explain it. Those darn investors, pulling back. After all, who wants a measley 11% return on their investment? But that's the mainstream media. If it would've been 20% they'd be screaming about another bubble. As it is, they still couldn't get through 8 paragraphs without mentioning the "B" word.

Also interesting to (once again) note the difference between the counties – Broward up 11%, Palm Beach up 6%. People call me from all over the country, I tell them Palm Beach County is a mausoleum.



Interactive Chart

Foreclosure Rates, Broward County

(Run your mouse over the Zip Codes to see)



To see the February 2013 housing data reports
from the florida association of realtors
click on the links below:


Single Family February 2014


Condos February 2014



To see stats in indvidual markets:


Market Sales Activity February 2014



Click on Image to View The Latest
Metro Home Prices Report
from the National Association of Realtors


foreclosure single family east of Intracoastal

To see 2013 year end housing data reports
from the florida association of realtors
for statewide residential real estate activity
click on the links below:


Single Family 2013


Condos 2013



To see stats in indvidual markets:


Market Sales Activity




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Jim Esposito

Intercoastal Realty

the best ft lauderdale realtor

(954) 785-8558 Office
(954) 336-3776 Mobile


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