The Market Snapshot for June is out. See the graphic below. There has been a lot of hand wringing over the direction of the market lately. Are we in a recession or not? Reports on the market nationally can be deceiving. Remember that all real estate is local and the situation in South Florida hasn't changed much. It is still very much a seller's market. The inventory of single family homes has increased 22.5% from a year ago. But condo inventory declined 23.4%. The combined market inventory is still down 7% from 2021. The Months Supply of Inventory is 1.9 months and 1.7 months respectively. We won't be in a buyers market until there is at least 6 months of inventory. We are still a long way from that. In fact we could double the amount of active listings and still be in a sellers market.
Demand for mortgages drops for the fourth straight week
Featured Properties
The Best From the MLS this Week.
1. Pompano Beach Waterfront with Pool $1,075,000
2. Two Bedroom Condo in Bermuda House, Ocean views $659,000.
3. Two Bedroom Condo with docks space available. Heritage Landing $595,000.
Real Estate News & Local Interest
- Condo owners brace for steep costs — with post-Surfside reforms on the way
- Coming soon: Hof’s House of Sweets to hit Las Olas Boulevard; El Camino cruises to Boca’s Restaurant Row
- THE RITZ-CARLTON RESIDENCES IS SET TO CALL POMPANO BEACH HOME
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Serving The Greater Fort Lauderdale area since 2006
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