When it comes to the most basic number which effects the Fort Lauderdale Real estate market; in Fort Lauderdale the trend is very differant than the trend the media speaks about throughout the country. That number is simply the number of residential units available for sale, and in Fort Lauderdale Real Estate, that number is declining. In Ft. Lauderdale and in the entre Broward County area, Fort Lauderdale Realtors have been complaining that there is nothing to sell. It is not quite that dramatic. But the saleable inventory is actually even lower than this graph shows. If you remove from the inventory the Ft. Lauderdale over priced unmotivated seller, the Ft. Lauderdale Short Sales which certain banks have caused many buyers to stay away from, the numerous Ft. Laudedale Foreclosurers that banks have frozen simply by leaving them on the market but are not responding to offers, and the area short sales that are being left on the market in “active” status because of fear that the first buyer will back out by time the bank responds, the truely sellable inventory in the Fort Lauderale area is even lower than this graph indicates.
Fort Lauderdale Real Estate Trends
When it comes to Fort Lauderale Real Estate the graph indicates some very clear trends. Inventory in the last year has droppd 45%, sales have increased 20% and pending sales (possibly scewed because of the numer of short sales sitting in pending which will nevr happen) are up 82%. When it comes to Fort Lauderdale Real Estate, and especially Fort Lauderdale Condos and Fort Lauderdale Waterfront Homes the widely used statistic of “housing starts” becomes meaningless as we are basically out of land; out of land means out of housing starts.
In summation with inventories back at the level of pre-housing boom in the Fort Lauderdale Real Estate Market, its a great time to be a buyer in Fort Lauderdale, and the team at Eric Miller and Associates is here to help with all your needs in Fort Lauderdale Real Estate.
