Home Sales And Listing Figures For Fort Lauderdale

Fort Lauderdale is a city located in Broward County, Florida, and bears the distinction of being the "Venice of America" because of its elaborate and wide expanse of canals that crisscross the city. The Greater Ft. Lauderdale metropolitan area covers 23 miles of beachfront stretching along the Atlantic Ocean waters.

This lovely Florida city has been at present, refined into a more vibrant, but more casual and sophisticated metropolis, and offers more than 2,500 restaurants with world-class facilities, as well as having plenty of outdoor recreational activities, cafes, shopping districts and watersports activities. The city's climate is tropical, and averages a year-round temperature of 77 degrees.

Home Sales And Listing Figures for Last Year

According to figures released by the Fort Lauderdale Area Association of Realtors for Listing and Sales figures for the first quarter of last year, this shows a considerable rise in the numbers for the the area's real estate, as compared to the previous month.

For example, the figure for the sale of single-family home sales in March 2007 was 534, up 18% over February, while the rate of condominium sales was 605, which showed a rise of 10% for the same period.

The average sales price for homes in this city in March of 2007 rose by 15% over February;'s figures, to $511,468. The median price for a single-family home also went up by 7% over the same period, to $374,700. For condos, the average sales price in this city for March 2007, which also includes lofts and townhomes, was up by 3% over February's figures, to $253,624, while the median price remained the same at $195,000.

Based on the previous year's figures released by the area's Realtor association, there were around 8,511 new property listings added to the market's already huge inventory in March. The total number of homes on the market for the month of March 2007 including both single family homes, condos, town-homes and lofts was 37,486, which represents an increase of 2% from the previous month alone.

Home Prices Are Beginning To Stabilize

According to officials of the Realtor Association of Greater Fort Lauderdale, inventory levels appear to be stabilizing and sales prices also are beginning to level, which means that this is a good time for home buyers, who will have better options in the housing market, while the biggest impact has been seen on speculative buyers.

Many consider the greater Ft. Lauderdale metropolitan area as a wonderful locale to work, live and play: The city is seen as as dynamic metropolitan area, because of its booming business, tourism and cultural scene.

The recent property tax amendment which was approved by state voters on Jan. 29 has had little effect on the market so far, according to local property brokers in Broward and Palm Beach counties.

The recently voted amendment is designed to reduce property taxes for people who have homestead exemptions and give them the chance to take their accumulated tax savings when they move to a new property within the state. However, the county's homeowners still are trying to thoroughly understand what the amendment means for them, but the good aspect is that the amendment is generating a positive sentiment among prospective buyers,.

According to local housing analysts, prospective home buyers are still waiting for the proverbial bottom of the market, which they're not going to be able to predict. However, the housing analysts indicate that individuals who purchase homes now and get a reasonably good deal, will definitely make a lot of money in five or six years from now.

http://hometerra.com - Fort Lauderdale Housing

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