Greater Fort Lauderdale REALTORS: Median Sale Price, Closed Sales & Housing Inventory Continue to Rise across South Florida

Broward County Housing Statistics, June 2014

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The confidence seems to be rising, essentially across the board. The amount of homes that are going up for sale is rising steadily, and those prices continue to rise hand in hand.

Fort Lauderdale, Florida (PRWEB) July 23, 2014

Across the board, the continued rise in housing statistics displays a confidence that South Florida homebuyers and sellers were hoping for. The rising trend of median sale prices for both single-family homes and townhouses/condominiums continued in June 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 5.7% (from $265,000 in June of 2013 to $280,000 in June of 2014), while townhomes/ condominiums are up 23.8% (from $105,000 to $130,000), respectively.

The number of new listings continued to rise across the board, up 16.7% in single-family homes (2,051 to 2,394) and up 7.6% in townhouses/condominiums (2,131 to 2,293), bringing the months’ supply of inventory from 4.2 to 5.8 in its current state for townhomes/condominiums and from 3.3 to 4.9 for single-family homes. Those numbers show an increase of 45.5% for single-family homes and 35.4% in townhomes/condominiums.

“The confidence seems to be rising, essentially across the board. The amount of homes that are going up for sale is rising steadily, and those prices continue to rise hand in hand. Those figures along with the growing number of closed sales gives credence to our community’s positive outlook.” said Marnie E. Allen, e-PRO, GRI, president of the Greater Fort Lauderdale Realtors®.

The total number of closed sales for existing single-family homes increased by 5.4% to 1,425 from 1,352 in June of last year. The total number of closed sales for existing townhomes/condominiums increased by 10.1% to 1,496 from 1,359 in June 2013. Cash sales for single-family homes decreased by 8.5%, while cash sales for townhomes/condominiums dipped slightly, only by 0.7% across Broward County.

The number of closed short sales for single-family homes (SFH) is down 38.8% from June of last year (240 to 147); while the number closed foreclosure sales increased by 14.9% in the past year (174 to 200). The number of closed short sales for townhouses/condominiums is down 55.2% from June of last year (192 to 86); while the number closed foreclosure sales increased slightly by 6.2% from June 2013 (242 to 257).

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.