Sales up and inventories down. On a high note, reports this week are encouraging for Broward County. The Greater Fort Lauderdale Realtor Association released data that condo sales increased 8 percent from April 2010 to April of this year, while single-family home sales increased by two percent. As is the trend for today’s buyer, cash transactions represented 67 percent of April’s residential sales. 60 percent of sales were to overseas buyers, many of whom also paid in cash. The Association also reported inventory levels continue to fall, decreasing 20 percent since May 2010 and 5.1 percent from last month. This contradicts national trends: total housing inventory rose 9.9 percent last month. Condo Vultures adds that the Fort Lauderdale condo market is improving almost at the rate of Miami’s, which until recently was considered an anomaly in today’s market.
If you’re even considering moving to Fort Lauderdale, you need a Realtor who knows this market inside and out, and can help you find and negotiate a great deal in this changing market. Ken Can Help!