Ft Lauderdale Real Estate Review

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Here is a market snapshot for Broward County real estate during Sept 2019. Hurricane Dorian swept through the area the first week of Sept and disrupted sales a bit. Still, closed sale were up 7.6% over the prior year for single family homes and 14.8% for condos.

Inventory for single family homes was down 4.9% was mostly unchanged for condos.

Interest rates had small increases in Sept over the prior month of Aug. Overall the market remains healthy and balanced.

Related:

Market Update For Broward County Aug 2019

Serving The Greater Fort Lauderdale area since 2006

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Here is the market snapshot for Broward County for August 2019 and how it compares to to August of the prior year. Sales of single family homes was down 6.2% and sales of condos and townhomes was down 1.4%. This decline in volume can mostly be blamed on hurricane Dorian. It formed in the Atlantic during the last week in August and was a major disruption in the market. It passed by Florida the first week of Sept and we will probably see similar declines next month. 

Median sales prices continue to rise. They were up 2.7% for Single Family homes and 6.7% for Condos. As for the inventory picture, the number of condos on the market did not change much. There was a 3% decline in the number of single family homes available for sale compared to the prior year.

There was a noticeable drop in average mortgage interest rates during August 2019. They were down from 4.07% in July to 3.81% in August. Overall we are in a healthy and balance market. 

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On Sept 16 my listing at 7040 Golf Pointe Circle Tamarac, FL closed. The home has 3 bedrooms, 3 baths, a two car garage and 2284 square feet of living space. The home is located in the Golf Pointe section of Woodmont Country Club. 

The owners were looking for a quick sale. The asking price was set at $339,000. It got a lot of attention and many showings right away. They ended up with 4 offers and it was under contract the first time in just 3 days. The first contracted buyer had to back out because he was notified by his employer he might be transferred out of state. Fortunately, one of the other buyers was there step in with an offer above asking price.  

The lesson learned in this sale is that selling quickly does not mean you have to give your home away. It is easy to tell when a home will be in demand. Their was no doubt in my mind we would end up at or above asking price for this home. Sellers often get the best price when a competitive situation among buyers is created. When you price your home at or near market value it will get everyone's attention. It also puts the sellers in total control of the selling process. They can choose among several offers. In this case when the first deal went bad, another buyer was right there waiting. Price isn't everything however, it also has to be marketed correctly. 

A side note. The sellers went out of town on vacation and before they got back their home was sold. They didn't have to deal with buyers tracking through their house all day.

See the listing details here.

See the Five Star Review the sellers gave me here.

Would you like to get your home quickly and for top dollar? Call me today at 954-895-2431.

Related:

4115 NW 75th Ave - A Success Story

3151 NE 51st St Apt 101E - Another Success Story

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On Sept 5th I closed the sale of my listing at 4115 NW 75th Ave, Coral Springs. This was the second time I had sold this property. The home belonged to prior customers of mine. I helped them purchase the property in 2010. At the time it was a foreclosure and needed plenty of TLC. We were able to negotiate a very good price at the time. 

The home is a 4 bedroom, 2 bath home in The Dells neighborhood of Coral Springs. It has 1876 square feet of living space plus a two car garage and screened in patio. I listed the home at $299,000 on a Friday and by the following Monday we had multiple offers. The sellers accepted the best one which was $308,000! Well above our target price and it only took 3 days.

See the listing details here.

My listings sell quickly and for top dollar. Let me show you what I can do for your home. Call me today at 954-895-2431 for a free market analysis. 

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On Aug 24th I listed a two bedroom two bath condo in Cypress Bend. It is a corner unit on the 7th floor that features tile floors throughout, full size washer and dryer in the unit, 1400 square feet of living space. Pets up to 35 lbs are allowed. Renting is allowed after 2 years of ownership. 

Offered at $169,000

See the complete listing details and more photos here.

Call me for a showing at 954-895-2431.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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How's the market doing?

The numbers from the Realtor Association of the Palm Beaches and Greater Fort Lauderdale MLS are in for the month of July 2019. Sales growth in Florida and South Florida in particularly has been outpacing the rest of the country. The number of closed sales of single family homes in July of 2019 is up 11.9% over the same period last year. Condos and Townhouses are also stronger by 7.4%.

The median prices for both single family and condos rose by approximately 5%. The Miami Herald is reporting that sales growth for homes over $1,000,000 has jumped 39%. This is a sector has has been flat for while.

The inventory picture remains about the same. There is 4.2 months worth of inventory for single family homes. This favors sellers slightly. There is 5.5 months worth of inventory of condos in Broward County which means the market is balanced. It favors neither the buyer of seller. 

Related:

Market Update For Broward County June 2019

3151 NE 51st St Apt 101E - Another Success Story

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On Monday, July 29, 2018 I finished a sale of a condo at 3151 NE 51st St, Fort Lauderdale. It is in a complex called Heritage Landing located just north of Commercial Blvd near the Intracoastal Waterway. Heritage Landing is a small complex of three, four story buildings with 74 total units on a canal just off the Intracoastal Waterway with dock space for boats up to 50 ft. The two bedroom units are a good size at 1300 square feet. The windows have all been retrofitted with impact resistant glass. It was a perfect fit for the buyer because it allows two pets up to 35 lbs each.

I represented the buyer for this sale. I was her first time buying a home and overall it went very smoothly. The only exception being the sellers decided to hire a different attorney at the last minute and that caused a near week delay in closing. The asking price was $299,000 and I was able to negotiate a pretty good deal for the buyer.

See the 5 star review from my customer here.

Related:

4115 NW 75th Ave - Just Listed in Coral Springs

298 SE 6th Ave Apt 21 - Just Listed

8083 Songbird Terrace - A Success Story

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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Here is a snapshot of the real estate market in Broward County for June as it compares to the same month last year. The number of closed sales for both single family homes and condos are down 11.2% and 17.5% respectively. I don't pay much attention to the median sales price changes. It can fluctuate wildly from month to month. The number of active listings is rising between 4 and 5% which is a good thing. A low inventory is partly to blame for the decrease in sales. 

My own personal observation is buyers think it is a buyers market and sellers think it is a sellers market. this had made putting deals together a challenge at times. I see that affordable single family homes are selling quickly. Vacation homes and 2nd homes are not. It is the difference between a want and a need. The upper end of the market is lagging too.

Related:

Market Update For Broward County May 2019

What does Days on the Market Mean For a Home Buyer?

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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Today I listed a four bedroom home in The Dells neighborhood of Coral Springs. The home was built in 1970 and has 1878 square feet of living space. In addition to four bedrooms. it has two full bathrooms. It also has a two car garage, laundry room and a covered screened in patio. It is ready for updating but it is a solid house with a good barrel tile roof. It is already getting a lot of attention because it is the lowest priced four bedroom home in Coral Springs. 

See the complete listing here.

Offered at $299,000

Call me at 954-895-2431 for a showing.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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I just listed a 2 bedroom Coop at 298 Se 6th ST. It is in the Garden Isles area in a complex known as Lakeshore Lodge. The complex has just 21 units on a small peninsula of the canals. This unit is a top floor corner unit with a great view of the water. It has an updated kitchen and tile floors. Leasing is allowed right away. One lease per year. Best of all there are slips available for boats up to 40 feet in length for just $3/ft a month.

Offered for $179,000

Call me at 954-895-2431 for a showing.

See the listing details and all the photos here.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!