Fort Laudedale Waterfront Real Estate by the Numbers

Posted by Eric Miller on Monday, February 29th, 2016 at 8:04am.

Fort Laudedale Waterfront Homes Market Update

The Fort Lauderdale Real Estate market, just like every real estate market in the world, is a story of local events which effect the local economy. National real estate reports, though informative, have little insight into the day to day goings on of a local real estate market. With the Fort Lauderdale Real Estate market and every real estate market there are submarkets that behave differently than the overall market. In Fort Lauderdale Real Estate, just some of these markets are the markets for Fort Lauderdale Waterfront Homes, Fort Lauderdale Beach Condominiums, Over 55 Retirement Communities,  and the Fort Lauderdale Real Estate market for New Construction. In addition to many real estate forces that drive a market, each one of these submarkets are driven by the most basic force of a real estate market performance, the Law of Supply and Demand. Today were going to look at the Law of Supply and Demand of the Fort Lauderdale Waterfront Homes market, look at the supply of Fort Lauderdale Waterfront Homes for Sale, and Number of Buyers of Waterfront property in Fort Lauderdale and look at recent history to project the trends of the Fort Lauderdale Waterfront Homes Real Estate market.

As of the end of January, there were 361 Fort Lauderdale Waterfront Homes for sale, an increase from the prior month of 6.2%. 24 Fort Lauderdale Waterfront Homes Sold in January, a decrease of 27% from the month prior and pending sales decreased 37%. Comparing January 2016 to January 2015 we see a similar sales trend, inventory was down however, but just 1.4% while sales were down 17.2%, and pending were down 41%.

 Coming Trends - Fort Lauderdale Waterfront Homes for Sale

There are currently 361 Fort Lauderdale Waterfront Single Family Homes on the market.  87 New Waterfront listings in Fort Lauderdale came on the market in January. There were 24 closings during the month. The months of supply, a great trend pricing indicator, rose to the highest level in almost two years at 15 months of supply. The average asking price for a Fort Lauderdale Waterfront Home rose to 3.2 million dollars,( we can view the current inventory at this link),  but the majority of sales activity is happening in the $1.0-$1.5 range. The negotiating factor (as we like to call it) the difference between what people get at closing compared to what the asked has risen to close to 10%. 

There are some additional important numbers to look at in your considering buying or selling a waterfront home in Fort Lauderdale. The average price per square foot, has risen year over year, almost 20% but in the last month, and month over month from last year, has shown a major decline. As of late, the days on market has declined almost 10%. Year over year prices are up almost 12% but in the last two months we have seen this trend change as inventory has started to grow. Though these numbers will need further investigation in future months, the current status of the Fort Lauderdale market for Waterfront Homes is that it is a declining market, and has become a buyers’ market.

The Team at Eric Miller and Associates hopes you have found this information helpful and reminds you we are always here to provide you the latest market updates and help you with all your Fort Lauderdale real estate needs in your search for the perfect Fort Lauderdale Real Estate.  

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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