Jim Esposito Agent Shot

Jim Esposito

Intercoastal Realty

(954) 336-3776

housing market updates

search florida homes for sale

fort lauderdale real estate news


Like This Blog? Click Here to Share with Your Friends and Colleagues


Help Me CRUSH My Competition

Ft Lauderdale Real Estate News 12/30/13

single family homes in fort lauderdale go up 20%, price of condos rise 23.6%

The latest statistics compiled by the Florida Association of Realtors shows the real estate market in Florida continuing to move strongly upward.

In addition, prime property and great locations are outperforming the rest of the market.

Below is the November 2013 summary report for sales of single family homes across the state showing the median price increased 13.% year over year, from November to November.

nov 2013 florida single family

Sale prices on condos and townhomes rose even more. The November 2013 summary report for sales of condominiums and townhomes throughout Florida below shows a median price increase of 17.2%

nov 2013 florida condos

Closer analysis of these numbers confirms an assertion I have been telling my clients for the last couple years: that the better properties will outperform the statewide average.

This is illustrated in the two reports below.

First we look at the November 2013 report for sales of single family homes in the metropolitan area of Miami, Fort Lauderdale and Pompano. Median Price went up 20%, again year to year, from November 2012 to November 2013. In addition you must remember these numbers are still a bit skewed, for the reporting area is quite large. Were you distill them down to Broward County, this number would go up even further, and if we could isolate the east side of Fort Lauderdale, higher still.

nov 2013 fort lauderdale single family

Once more, sales of townhomes and condos showed an even greater increase. Below is the November 2013 summary report showing the median price for condominiums and townhoumes rose 23.6% year over year.

nov 2013 fort lauderdale condos

Some so-called "Experts" are offering words of caution, warning prices can't keep going up like this. (Like DUH!) This is the second dumbest thing I've heard since the Shadow Inventory. Certainly we are bouncing off a bottom and we are not going to see 20% a year. But what does that mean? Perhaps you will only see 10-12%. What, is that a bad thing? After all, who wants a measley 10-12% profit? Other analysts also point out how the inventory of homes on the market has come way down, and a tighter market by definition will always be less frothy.

I have lived in South Florida since the 50s. It has historically been a boom and bust cycle. In a "normal" year property values in South Florida might appreciate 7-10%. The real estate market crashed in the 70s, the 80s and the 90s. People were running around like chickens with their heads cut off, screaming the sky was falling. Our last downturn has been especially severe, but that was in large part due to our fine friends on Wall Street, playing the slots.

In my professional opinion we are looking at a pretty good stretch over the next couple years in South Florida, barring asteroid impacts and/or the total collapse of Western Civilization (a.k.a. my "Act of God" Disclaimer). No, you probably won't get 20% a year. But if you buy right and get good value (i.e. price versus location) you should still be able to see double-digit appreciation.

Click on Image to See Our Latest Hot Deal

lbts townhome

To see more great real estate investments go to

Investor Central


Find out more at:


If you are not on the phone to me right now
you are costing yourself money

a high rating realtor I specialize in the location
of the best deal on luxury and waterfront real estate
in ft lauderdale, boca raton and south florida

Jim Esposito

Intercoastal Realty

the best ft lauderdale realtor

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


Great Deals    

Property Search    

Selling Your Home    


Free Lists    

Downtown Ft. Laud    



Income Property    

Investor Central    


Real Estate Blogs    



Client Log In    




Updated Weekly!

Click Here!

12 Things
You've Got
To Know
Before Buying Foreclosures

Click Here!

Read Our Exclusive
& Informative Guide

How To Buy


The Next Best Thing
to Foreclosures

In Some Ways
Perhaps Even Better

A whole new class of
Distressed Property

And they are

Ready To Go!


Free Lists

Click Here!


1500 East Las Olas Boulevard
Fort Lauderdale, Florida 33301

Jim Esposito

fort lauderdale homes for sale

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


Home  ♦  Selling Your Home  ♦  Property Search  ♦  Great Deals  ♦  Foreclosures  ♦  Income Property  ♦  Investor Central  ♦  R.E. Blogs  ♦  Webcams  ♦  Links  ♦  Contact  ♦  Sitemap