The Realtor® Association of Greater Fort Lauderdale, Inc. The Realtor® Association of Greater Fort Lauderdale, Inc.REALTOR® Association of Greater Fort Lauderdale Reports an Increase of Nearly 300% in Available Inventory for Single-Family Home
FORT LAUDERDALE, Fla. - (May 11, 2006) - Broward County's residential real estate market has shifted toward a buyer's market according to statistics provided by the REALTOR® Association of Greater Fort Lauderdale (RAGFL). The number of new listings and available inventory in April for both single-family homes and condo-townhouses has increased significantly from 2005.
Association researchers report 8,838 single-family homes were available in April, up 9% from March's numbers (8,109) but, more significantly, an increase of 280% from April 2005 when 2,327 homes were on the market. The condominium-townhouse inventory also increased 9% from last month, 11,490 compared to 10,570, and the change from 2005 was even more significant at 361%, when the market had 2,492 units available.
The average sale price for single-family homes took a dip in April compared to 2005 numbers, but the median sales price continued to increase from 2005. The average sales price was $465,328, down 4% compared to March when it was $483,560 and down 3% compared to last year's number of $482,081. The media sales price for single-family homes was at $354,300, down 6% from March's figure of $375,000, but up from last years median sales price of $340,000, a 4% increase.
The average sale price of condominiums-townhouses in April was $247,934, down 4% from last month's figure of $257,831, but still 5% higher than last year's value which was $236,976. The media sales price was 210,000, up 2% from 205,000 last month and up 18% from last year when the median price was $178,000.
"With the market changing in favor of buyers," says Dori Longhini, CIPS, CRS, PMN, president of the REALTOR® Association of Greater Fort Lauderdale, "this is as important time as any for sellers to draw upon the expertise of a real estate professional who can help them select or market their home and get a fair price for it."
Although the number of homes sold in 2006 is still lower than 2005, there has been a trend toward monthly increases this year. Single-family home sales were at 746 in April compared to 649 in March, an increase of 15%, but the number was still down from 2005 when 1,093 homes were sold. April also saw 923 condominium-townhouses sold, up 20% from March's numbers of 769 but these numbers were down 30% from 2005 when 1,321 units were sold.
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 April; additional sales for the month may be recorded that are not reflected here.)
View PDf of this Sales Statistics Press Release
View the MLS Satistics related to this story. (Member Login required)
For a Free copy of Adobe Acrobat: http://www.adobe.com/products/acrobat/readstep.html
What's a PDF? Click here: http://www.adobe.com/products/acrobat/adobepdf.html