The Realtor® Association of Greater Fort Lauderdale, Inc. The Realtor® Association of Greater Fort Lauderdale, Inc.Total Sales Volume Rises by More Than $10 Million From December, Despite Small Decrease in Number of Total Sales
FORT LAUDERDALE, Fla. - (Jan. 31, 2006) - Broward County's residential real estate market in January was a mixed bag, according to the REALTOR® Association of Greater Fort Lauderdale (RAGFL). Association researchers say 20 fewer homes were sold during the month as compared to December 2005, down to 1,329 from 1,349, but prices climbed in three of four categories and were flat in the fourth.
RAGFL found the average price of a Broward County single family home in January was $492,858, up 4% from $473,925 in December, while the median price of $379,900 was exactly the same as the previous month. When compared with January 2005, the average sales price was up more than $100,000, or 26%, from $392,483 one year ago and the median price was 25% higher than last year's figure of $304,000.
Condominium-townhouse sales recorded 4% increases for both the average price - $244,621 in January compared to $236,050 one month earlier - and median price, which rose to $202,250 from $194,950 in December. January 2006's average sales price was an increase of 23% from $198,158 in 2005 and the median price rose 27% from $159,000 one year ago.
Combined single family and condo-townhouse sales volume rose $10.3 million to $469.8 million, compared with $459.5 million in December, despite 20 fewer sales. However, that marked a 15% decline from $553.6 million (-$83.8 million) from total sales recorded in January 2005, when 1,872 homes were sold, 543 (29%) more than this year.
"We're still seeing the effect of Hurricane Wilma in the marketplace but, as we expected, that effect lessened somewhat in January from the previous month," said Dori Longhini, CIPS, CRS, PMN, 2006 president of the REALTOR® Association of Greater Fort Lauderdale. "The increases for individual home prices and total sales volume indicate residential real estate remains strong in South Florida.."
In January, the number of total new listings was up 16% to 6,981 from December's level of 6,021. That figure is 58% above the level seen in January 2005 when 4,410 new listings were posted. The number of available single family homes rose 15% to 6,287 from 5,465 in December, while the number of condo-townhouses on the market reached 8,291, up 19% from 6,968 at year's end. Available inventory for all property types during the month was 19,330, up 102% from the same period in 2005.
The REALTOR® Association of Greater Fort Lauderdale, Inc. is one of the largest Realtor® Associations in Florida, representing more than 12,000 real estate agents in Broward County.
Note: The statistics contained are provided by the REALTOR® Association of Greater Fort Lauderdale, Inc. If these figures are used, please include a credit or mention of the Association in your report. (Statistics compiled in late February; additional sales for the month may be recorded that are not reflected here.)
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