In Broward county the number of closed sales in March this year is down 10.5% from March 2017 for single family homes and down 8.9 for condo.
The median sales price is up 5.9% for the same period for single family homes and 10.0% for condos.
The number of available home for sale has declined by 1.9% for single family homes and 4.7% for condos from March 2017 to March 2018. So with prices rising the reason for the decline in sales has to be a shrinking inventory.
Downsizing. I have had more calls from customers interested in downsizing so far this year, then probably the last 5 years combined. Folks want to get out of the big house they are in and into something more manageable. It’s a tricky maneuver when there is a shortage of homes available. Depending on your strategy, you run the risk of being either homeless or owning two homes for a while. This could be the topic of my next blog article. It is also the sign of a healthy market.
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2617 Datura Court, Fort Lauderdale. A 3 bedroom, 3 bath home in the exclusive Idlewyld neighborhood off Las Olas Blvd. Offered for $1,099,000. See the amazing drone photos and a 3-D virtual tour here.
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Do you ever go to Zillow to check your homes value? I have an alternate way to check up on values, both present and forecasted! Plus keep track of sales in your neighborhood. The data comes directly from Corelogic, the largest provider of MLS services in the country. The data and listings are far more accurate and up to date then the Z-word. Check it out here.
In other news. I still have some ways to go, but my LDL (cholesterol) is down 15 points from 6 months ago.
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