Greater Fort Lauderdale Realtors®: Broward County Single-Family Median Sales Price Increased 23.3% In the Fourth Quarter of 2013 While New Listings Increased 16.2%

The median sale price of existing single-family homes in Broward County rose 23.3 percent to $270,000 in the fourth quarter of 2013 from $219,000 in the fourth quarter of 2012, and the median sales price for condominiums and townhouses also rose 28.6 percent in the fourth quarter of 2013 to $118,000, compared to $91,750 in same three-month period in 2012, according to statistics released today by the Greater Fort Lauderdale Realtors®.

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Fort Lauderdale, FL (PRWEB) February 12, 2014

The median sale price of existing single-family homes in Broward County rose 23.3 percent to $270,000 in the fourth quarter of 2013 from $219,000 in the fourth quarter of 2012, and the median sales price for condominiums and townhouses also rose 28.6 percent in the fourth quarter of 2013 to $118,000, compared to $91,750 in same three-month period in 2012, according to statistics released today by the Greater Fort Lauderdale Realtors® (GFLR), the largest professional Broward County-based association of licensed real estate brokers and sales associates.

The number of closed sales of existing single-family homes (SFH) declined 1.5 percent to 3,590 for the fourth quarter, down from 3,643 closed sales in the same 2012 quarter. Single-family home cash sales declined 1.6 percent to 1,504 closed sales in the last quarter of 2013 (41.8 percent of all SFH sales), from 1,529 in the final quarter of 2012.

The number of closed sales of townhouses and condominiums declined 2.5 percent to 3,914 in the fourth quarter of 2013, compared to 4,016 in the same 2012 period. The number of townhouse and condominium cash sales declined 9 percent to 2,935 closed sales in the last quarter of 2013 (75 percent of all townhouse and condominium sales), from 3,226 in the fourth quarter of 2012.

The inventory (active listings) of existing SFHs for sale in Broward County increased 16 percent to 5,042 in the last quarter of 2013, compared to 4,384 in the fourth quarter of 2012, while the months’ supply of inventory increased 9 percent to four months. The inventory of existing townhouses and condominiums for sale in Broward County in the fourth quarter of 2013 increased 18.9 percent to 7,171 listings from 6,031 listings in the same period in 2012, while the months’ supply of inventory increased 16.1 percent from the 2012 last quarter to 5.1 months.

New SFH for-sale listings increased 16.2 percent to 5,758 SFHs in the final three months of 2013, compared to 4,956 listings in the same 2012 period. New townhouse-condo listings increased 14.3 percent to 6,916 in the fourth quarter of 2013, compared to 6,053 listings in fourth quarter of 2012.

The average percent of the original list price for existing SFHs received by sellers rose 1.7 percent in the 2013 fourth quarter, with sellers receiving 95.4 percent of their asking price, compared to 93.8 percent in the same 2012 period. Owners of townhouse and condominiums received 94.4 percent of their asking price in the fourth quarter of 2013, up .1 percent from a year ago.

New pending sales, which are single-family homes, townhouses and condominiums under contract but have not yet closed, decreased 8.1 percent in final quarter of 2013 to 4,692 SFHs from 5,107 in final quarter of 2012. New pending sales for townhouses-condominiums declined 9.2 percent in fourth quarter of 2013 to 4,864, compared to 5,357 in the same 2012 period.

Closed short sales for SFHs were down 32.5 percent in the fourth quarter of 2013 to 609, compared to 902 a year ago. The median sales price of a short sale SFH in the 2013 fourth quarter was $180,000, compared to $175,000 in 2012, an increase of 2.9 percent. Closed foreclosure sales declined 30.4 percent to 434 in the last quarter of 2013, compared to 624 in 2012. The median sales price of SFH foreclosures increased 30.1 percent to $165,700 in final quarter of 2013, compared to $127,350 a year ago.

Closed short sales for townhouses and condos were down 44.5 percent in the last quarter of 2013 to 442, compared to 796 closed short sales the same period a year ago. The median sale price of a short sale of townhomes and condos in the last quarter of 2013 was $95,000, compared to $85,000 a year ago, an increase of 11.8 percent. Closed foreclosure sales declined 18.9 percent to 585 in the fourth quarter of 2013, compared to 721 in the same 2012 period, with the median sales price increasing 19.3 percent to $85,900 from a year ago.

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Greater Fort Lauderdale Realtors® is the largest Broward-based professional association of real estate brokers and sales associates conducting business throughout South Florida while focusing on Broward County. GFLR provides multiple listing services (MLS), educational programs, ethical guidance and other services that enable licensed real estate professionals to help people buy and sell homes in Broward County and throughout South Florida. For more information visit: http://www.r-world.com.