Fort Lauderdale Real Estate - Look At Home Sales & Average Home Prices

Fort Lauderdale Real Estate

Fort Lauderdale Real Estate is known as a major tourist attraction and usually gets about 10 million tourists a year or more, and has made a difference, especially in metropolitan cultural diversity.

The town takes its name from a series of fortifications built in the army during the Second Seminole War in the 18th century. Strong, in turn, took its name from Major William Lauderdale, who heads the command of troops who built the first fort.

The city is considered a wonderful place to live, work and play, because of its dynamic business, social and cultural lifestyle. Waterfront City, which has developed over the past five years, offers wonderful cafes and restaurants, leisure and business in this region located conveniently on foot.

How does the condo market has excelled

Based on the statistics of last year, the median home price in Fort Lauderdale Condo in October of last year were down 5 percent from $ 349,400 a year earlier, was linked to $ 368,900.

The median price in the local market existing condo $ 210,100, and a year ago was $ 194,500, representing an increase of 8 percent. Observers believe that the housing market, inventory levels have stabilized and sales prices are stabilizing, which they say is good for buyers, who have more options in the market.

Statewide, sales of existing homes fell in October for a total of 3,440 homes sold in the state compared to the quarter 5001 quarter 2005, representing 31 percent decrease, according to the Florida Association of Realtors. The national median existing home price in FAR in September 2006 was linked to $ 219,800.

Home sales in Ft. Lauderdale

State housing market in much larger area of Fort Lauderdale metropolitan statistical area (MSA) of which approximately 591 existing homes sold last month, compared with 561 homes sold a year ago.

This represents an increase of 5 percent. The average market price of existing homes fell 5 percent to $ 349,400, while last year was $ 368,900. A total of 580 existing condos changed hands in Fort Lauderdale in October, representing a decrease of 21 percent over the 737 condos sold the previous year. The average market price of existing condos was $ 210,100.

So a year ago was $ 194,500, and to show a growth of 8 percent. Realtor Association of Greater Fort Lauderdale notes, that the volume of stocks seems to be stabilizing and sales prices are leveling, which is a good group of buyers who are more options, but the impact has been more speculative buyers.

Tourism is seen as the biggest and most important contributor to the economy of the city's real estate market has grown rapidly here really is. According to the local association of real estate, construction of new hotels, homes and condos have to meet the growing demand for temporary or permanent housing.

Many argue that this is a good sign for investment in real estate in the famous city known as the "Venice of the Americas." Currently, there are about 1,814 single-family homes, townhomes and 3,659 condominiums and 1,673 leases available to new buyers and investors.