Market Conditions for Fort Lauderdale, Florida Reported by Michael Sahlman, P.A., REALTOR, e-PRO Updated December 5, 2009.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

127 homes and condos sold in February with sales prices that were 89% of asking price. The average sales price was $ 445,261 and stayed on the market for 126 days. Call 1-800-639-3520 Ext. 9169 for Free Reports on Fort Lauderdale (our 24-hour recorded info line), or visit us at our website at www.HomesForVIPs.com.
There are currently 5,945 homes and condos for sale in Fort Lauderdale compared to 40,475 in Broward County of which 23,078 are condos. In Miami-Dade County, there are 42,404 for sale of which 25,574 are condos. For customized, detailed reports and research from one of the leading real estate experts in the area, please do not hesitate to contact me at the toll free number above or call me directly at 786.553.0697 or email me at Michael@HomesForVIPs.com. These reports show recent sales, available stats and facts and trends reports by zip code, area, city and/or building, and provide clients with an overall snapshot of inventory, closed sales, avg. sales price, sale price compared to list price, days on market and months of inventory.
FORT LAUDERDALE continues to be a very attractive area for investing although it would not be a good idea to look for short-term gains right now. As long as you can hold your property for at least 2-3 years, you should be fine. Waterfront property, especially, will continue to be the best investment. For those interested in the many new condo-hotels being built like the W Hotel and Residences, Trump, Q Club, St. Regis Fort Lauderdale and others, please call me directly for more information at 786-553-0697.
Resort areas like FORT LAUDERDALE are always in high demand and will continue to attract baby boomers, snowbirds, investors, celebrities, buyers and foreign buyers. The dollar is very weak in Europe, so look for increased investment from there as well as other foreign countries where there is political unrest and unstable economies (i.e. South America). There are few major cities in the U.S. that have the appeal, and its location is easily accessible from South America and Europe. Property prices are low (in some cases less than half) when compared to other major cities in the U.S. like New York, Washington D.C., Chicago, San Francisco, Los Angeles and San Diego.
Currently, throughout South Florida the supply of condos for sale is still steadily increasing. Look for lower prices in some of the luxury buildings and the vanilla condo conversions where there currently is a lot of inventory and the supply far exceeds the demand right now. In some of the luxury buildings, the sellers were anticipating 25%-50% annual appreciation to continue and had factored that into their selling price. Now reality is forcing these sellers to adjust their prices more drastically than others. Also, look for a number of investors to bail out of the market as they realize they will not be able to flip their properties for the profits they were hoping for. Sellers holding variable rate mortgages are getting even more nervous. They will want to sell sooner rather than later as their carrying costs are becoming increasingly burdensome.
In South Florida in general, the condo market is definitely softer than the single-family market. Pre-construction has slowed to a crawl, except for that of the luxury projects catering only to the affluent buyers. Speculative investors are long gone from the market.

For those that are interested, I have assembled a list of what I consider to be the best values in each of the major neighborhoods in and around FORT LAUDERDALE. These are condos and homes where the prices are very reasonable and the potential for appreciation is greatest in my opinion.
For more information, please feel free to email me your requests for more information at Michael@HomesForVIPs.com, or call me directly at 786.553.0697. For detailed Reports and Free Recorded information 24-hours a day about the FORT LAUDERDALE market, call 1-800-639-3520 Ext. 9169.


ZIP Codes: 33301, 33304, 33305, 3330633307, 33308, 33309, 33311, 33312, 33313, 33314, 33315, 33316, 33317, 33319, 33321, 33322, 33323, 33324, 33325, 33326, 33327, 33328, 33330, 33331, 33332, 33334, 33351, 33388, 33394


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