Fort Lauderdale Market Update

Posted by Eric Miller on Saturday, May 4th, 2013 at 10:34am.

You have been thinking about buying a Fort Lauderdale Home or Condominium for years, planning to purchase the perfect retirement spot, or vacation get away as you create a lifestyle that adds to it your own piece of paradise. img_0539_3264Over the last few years you have watched and prayed, lets be honest you have prayed prices would go lower and in your heart you just knew that you would feel the bottom of the real estate market. You knew because the media told you so that there were tons of foreclosed properties just waiting on the market for your arrival. They didn’t tell you where they were or what they were about or the most important piece of information; many of them are foreclosures because you and most other people simply do not want to live there for one reason or another.

Now comes 2013 and something has happened and its time for a reality check. If you’re planning to look for a Home for Sale in Fort Lauderdale its time to repeat after me, “I have missed the bottom of the Fort Lauderdale Real Estate market, but I know there are still some great deals out there and time is not on my side if I want to find a great deal!”

Not convinced yet, well we know one month does not make a market, not even one quarter, so here are some numbers you need to be armed with as you repeat the mantra above one more time, “I have missed the bottom….” Let’s looks at the last two years of Fort Lauderdale Real Estate with some numbers we can all remember. In the Fort Lauderdale real estate market east of the intracostal, or better known as the Fort Lauderdale Beach area, the number properties for sale has dropped over 25%, sales prices have risen over 14%, and sellers are getting closer to their asking prices with the average being over 90%.

I will not ask you to repeat it again; however, I will suggest that if Fort Lauderdale is on your wish list now is a great time to call your local Fort Lauderdale Realtor, and take advantage of a market that still has some great deals.

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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