Ft Lauderdale Real Estate News 12/16/2020
3 Out of 5 Homes For Sale in Fort Lauderdale Sell in 30 Days
Almost 60% of Single Family Homes listed for sale in Florida go under contract within 30 days. According to the latest report from the National Association of Realtors, 57% of existing single family homes which go on the market become pending sales within the first month. In condominiums and townhome properties, 45% go under contract within 30 days.
Drilling down into these numbers we see a slight divergence depending upon the listing price of these homes.
One factor which impacts these statistics is the large number of luxury homes for sale in Fort Lauderdale and Broward County. These properties average more time on the market since they are purchased by high-end buyers, which are fewer and farther between. Homes sold over $1 Million report a median time to contract of 73 days, while those priced between $600,000 and one million dollars show a median of 44 days. Below that $600,000 threshold, 60% of single family homes listed for sale in Florida were on the market less than a month.
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