Fort Lauderdale’s Sales Momentum
Florida’s real estate market has struggled to maintain its footing, constantly fluctuating in sales gains and price drops. While some markets are doing better than others, South Florida has been closely watched since that’s where two major tourism destinations (Miami and Fort Lauderdale) are located. So how are things doing down here?
In terms of Fort Lauderdale real estate, it’s actually doing significantly well when compared to the rest of the state. Single family home sales and prices actually improved during the second quarter, in fact Fort Lauderdale was the only market that saw prices and sales increase simultaneously. Sales of Fort Lauderdale condos were also up by nine percent while the median price inched up seven percent to $76,000.
Will the rest of 2011 see even more encouraging numbers for Fort Lauderdale real estate? Only time will tell but it looks like things are on the right path for now.