Market Report From John & Johanne (Gosselin) Sabia
Fort Lauderdale, FL
Condos/Townhomes
EXP Realty | 954.850.2397
Fort Lauderdale, FL
Thu Apr 25 2024
This week the median list price for Fort Lauderdale, FL is $475,000 with the market action index hovering around 28. This is less than last month's market action index of 29. Inventory has increased to 1,683.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The market has been cooling in recent weeks. Since this is a Buyer’s market where there is excess inventory to satisfy the demand levels, prices have also been moving lower.
Real-Time Market Profile
| Median List Price | $475,000 | |
| Median Price of New Listings | $457,495 | |
| Per Square Foot | $425 | |
| Average Days on Market | 122 | |
| Median Days on Market | 84 | |
| Price Decreased | 39% | |
| Price Increased | 2% | |
| Relisted | 7% | |
| Inventory | 1,683 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,619,762 | 2,135 | 6,500 - 8,000 sqft | 3 | 2.8 | 17 | 20 | 10 | 105 |
| $639,000 | 1,320 | 6,500 - 8,000 sqft | 2 | 2 | 43 | 26 | 7 | 84 |
| $375,000 | 1,050 | 6,500 - 8,000 sqft | 2 | 2 | 50 | 23 | 7 | 70 |
| $216,000 | 875 | 6,500 - 8,000 sqft | 2 | 1.5 | 45 | 25 | 10 | 70 |