Fort Lauderdale, Florida (PRWEB) May 24, 2014
The rising trend of median sale prices for both single-family homes and townhouses/condominiums continued in April from those numbers one year ago, 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 median sale price for single-family homes is up 9.2% (from $250,000 in April of 2013 to $273,000 in April of 2014), while townhomes/condominiums are up 14.3% (from $105,000 to $120,000), respectively.
The number of new listings continued to rise across the board, up 16.3% in single-family homes (2,122 to 2,467) and up 11.4% in townhouses/condominiums (2,359 to 2,628), bringing the months’ supply of inventory from 4.3 to 5.8 in its current state for townhomes/condominiums and from 3.4 to 4.6 for single-family homes. Those numbers represent an increase of 36.3% in both categories.
“The confidence in our market seems to be growing within both buyers and sellers. The rise of the median sale prices across the board and the amount of new inventory are both great indicators that people cannot only put a house on the market, but also sell it in a feasible amount of time,” said Marnie E. Allen, e-PRO, GRI, president of the Greater Fort Lauderdale Realtors®.
The number of closed short sales for single-family homes (SFH) is down 34.9% from April of last year (281 to 183); while the number closed foreclosure sales increased by 22.1% in the past year (140 to 171). The number of closed short sales for townhouses/condominiums is down 53% percent from April of last year (200 to 94); while the number closed foreclosure sales also decreased by 2.2% in the past year (225 to 220).
The total number of closed sales for existing single-family homes increased slightly by 1.4% to 1,334 from 1,316 in April of last year. The total number of closed sales for existing townhomes/condominiums decreased slightly at 8.6% down to 1,521 from 1,664 in April 2014. Cash sales for single-family homes decreased by 6.5%, while cash sales for townhomes/condominiums dipped by 13.8% across Broward County.
About Greater Fort Lauderdale Realtors®
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.