JUNE 2019

 

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Fort Lauderdale, FLORIDA

A substantial portion of January, Febuary, and March of 2019 statistics reflect new listings and accepted offers occurring during the mid-winter market (Thanksgiving to mid-January). In November and December 2018, the stock market fell from its all-time high in September, and interest rates hit their highest point in years: these factors affected buyer demand. Both turned in dramatically positive directions in early 2019. So, Q1 statistics reflect economic conditions in both Q4 2018 (negative) and Q1 2019 (positive). It is also the quarter with traditionally the highest sales volume. 


The spring selling season - whose data starts to show up in March, but is mostly reflected in Q2 - is off to a slow start this year as the number of Listings in Q1 is lower than we have seen in previous years. What are Sellers waiting for? Given the lack of housing stock, there is a good opportunity for Sellers who have been sitting on the sidelines to make a move.

Fort Lauderdale Sold Q1 YOY Trends
Prices have been steadily increasing for the past few years in Fort Lauderdale, however Median Prices for Q1 2019 (dark blue bar) decreased ever so slightly from last spring in the total market. The price drop was felt exclusively in the condo market (-8.5%) with prices for Single Family Homes remaining steady.

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SouthernBusiness Magazine

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