best fort lauderdale real estate agent

Jim Esposito

Intercoastal Realty

954-336-3776

Latest Real Estate Statistics

 

Fort Lauderdale, Broward County, All South Florida

Home Price Appreciation, Rising Values

 

 

best fort lauderdale real estate agent

 

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Just The Facts, Jack

 

Fort Lauderdale & South Florida Housing Market Stats



Florida Association of Realtors

 

2019 Year-End Statistics Showing Fort Lauderdale Home Values Appreciate 5.4%


The Median Sale Price of a Single Family Home in Fort Lauderdale went up 5.4% year over year to $420,000 according to the most recent annual statistics compiled by the Florida Association of Realtors.

During that same time period the Average Sale Price of a Fort Lauderdale Single Family Home grew 6.8% to $751,195.

The Condo Market, however, continues to languish. According to the 2019 Year-End annual stats released by the Florida Association of Realtors, number of Closed Sales for Condominium and Townhouse properties in the city of Fort Lauderdale declined 11.8% to 2,046. The Median Sale Price of $300,000 represents a decline of 8.8%, while the Average Sale Price fell 7.6% to $434,326.


Yeah, Sure. Try to Low-Ball.

 

One signature metric of the Fort Lauderdale housing market remained strong nonetheless. In 2019, both Single Family as well as Condominium and Townhome properties continued selling very close to asking price. The Median Percentage of Original List Price Received for Single Family Homes in Broward County equaled 95.8%, indicating the average Sellers were only coming down 4.2% from their asking price. This represents only a minimal drop from 2018, when the median differential between Listing and Sale Price was 4.0% in SFRs. In Condominium and Townhouses, the Median Percentage of Original List Price Receivded for 2019 totaled 94.4% (versus 94.5% in 2018), meaning Sellers were only coming down an average of 5.6% from their asking price.


State of The State

 

Typically, the rise in property values in Fort Lauderdale and Broward County vastly outperforms the statewide statzistics, but after the last several years of dramatic appreciation in 2019 those numbers fell in line with the rest of Florida.

The Median Sale Price of a Single Family Home in Florida rose 3.9% year over year to $264,500, with the Average Sale Price of $346,763 representing an increase of 2.4%.

The statewide Condo Market fared better than Fort Lauderdale's. According to year-end report released by the Florida Association of Realtors, compiled through the MLS, the Median Sale Price for Condominiums and Townhomes was $192,000, a 3.8% rise, while the Average Sale Price increased 2.5% to $273,208. If you want a reason, I'd offer that these properties look like more of a bargain once you venture outside the prime market of Fort Lauderdale and Broward county, where the Median Price of a Condo or Townhouse ($300,000) as well as the Average Sale Price ($434,326) is over 35% higher.

What is interesting, perhaps, is the fact Florida reported this appreciation in values of Condominium and Townhome Properties even though we saw declines in Closed Sales (down 0.2%), New Listings (down 3.9%) and Active Inventory (down 8.2%).

This also highlights some apparent anomalies in Single Family Homes. New Listings declined 0.7% and Active Listings were down 12.3%, yet Closed Sales actually increased 4.5%.





Year End Real Estate Market Reports

 

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Research Florida Real Estate Statistics

 

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Many Reports are Publicly Available. Some are Members Only.
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feel free to give me a call. I'll be happy to download one for you.
It's not like this stuff is Top Secret or anything.

 

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Freddie Mac Home Price Index

 

freddie mac home price index, u.s. vs south florida 2010-20

 

South Florida (Dotted Green) versus United States (Blue)
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Total Tax Burden by State

 

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Source: WalletHub



Real Estate Taxes

 

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Source: WalletHub






 

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