Fort Lauderdale, Florida
2Q-2012
Quarterly Survey of Fort Lauderdale Residential Sales
Condo/Townhouse • Price indicators posted double-digit gains as sales slipped Median sales price
was up 21.2% to $209,000, from $172,440 in the prior year quarter. Average sales price and price per square foot showed similar double-digit gains over the same period. The number of sales declined 7.7% to 608 from 659 in the prior year quarter. With 1,035 listings at the end of the second quarter, the 5.1-month absorption rate was considered tight for the region.
• Days on market and listing discount edged lower The average sale took 125
days, 4 days faster than in the same period last year. The percent spread in price between seller and buyer was 6.1% in the second quarter, less than 6.6% in the prior year quarter.
Single Family • Sharp decline in days on market and listing discount Listing discount fell to
5.7% from 7.4% in the same period last year. Days on market was 113, 18 days faster than in the same period last year. There were 745 listings and as a result, the absorption rate was 5 months, considered fast relative to other markets in the region.
• Price indicators showed large yearover-year gains Median sales price was
$209,000, up 21.2% from $172,440 in the prior year quarter. The other price indicators showed similar patterns; however, the gains were not as a result of larger sized home sales. The average size of a single family sale increased 6.4% to 1,989 square feet over the same period.
Ft. Lauderdale Market Matrix (Condos/TH)
1Q-2012
% Chg (yr)
6.8%
$192
15.2%
$178
$209,000
10.0%
$190,000
21.2%
$172,440
608
36.9%
444
-7.7%
659
Days on Market (From Last List Date)
125
9.6%
114
-3.1%
Listing Discount (From Last List Price)
6.1%
7.2%
6.6%
1,035
N/A
N/A
5.1
N/A
N/A
Average Sales Price
2Q-2012 % Chg (qrt) $303,289
15.4%
$205
Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
Listing Inventory (active) Absorption Rate (mos)
Quarterly Average Sales Price
$262,769
$251,193
129
Number of Sales
FORT L AUDERDALE CONDO/ TOWNHOUSE
$625,000
2Q-2011
20.7%
750
$500,000
600
$375,000
450
$250,000
300 150
$125,000 $0
06
07
08
09
10
11
0
12
Note: All condo/townhouse closed sales in Fort Lauderdale within the South Florida MLS.
Quarterly Average Sales Price Ft. Lauderdale Market Matrix (Single Family) $625,000 Quarterly Average Sales Price
Average Sales Price $500,000 $1,000,000 Average Price per Sq Ft $375,000 $800,000 Median Sales Price $250,000 $600,000 Number of Sales (Closed) $125,000 $400,000 Days on Market (From Last List Date) $0 06 $200,000 Listing Discount (From Last List 07 Price) $0 Listing Inventory (active) 06 07
Number of Sales FORT L AUDERDALE 2Q-2012 % Chg ( qrt ) 1Q-2012 % Chg (of yr) 2Q-2011 750 CONDO/ TOWNHOUSE Number Sales FORT L AUDERDALE $489,197
13.5%
$246
14.4%
$215
$215,000
-2.3%
$220,000
443
8.8%
407
113
-4.2%
SINGLE FAMILY
08 08
Absorption Rate (mos)
5.7%
09
745
09
$431,136
118 6.6%
10 10
5.0
Quarterly Average Sales Price $1,000,000 Quarterly Average Sales Price $1,000,000 $800,000
N/A
30.8%
$373,928 600 750 23.0% $200 450 600 31.1% $164,000 300 450 -3.7% 460 150 300 -13.7% 131 0 7.4% 11 12 150 11
12
N/A
0 N/A N/A
Number of Sales FORT L AUDERDALE Number of Sales SINGLE FAMILY FORT L AUDERDALE LUXURY CONDO/ TOWNHOUSE
750 100 600
$800,000 $600,000
450 80
$600,000 $400,000
300 60
$400,000 $200,000
150 40
$0 $200,000
06
07
08
09
2Qsales 11 in Fort Lauderdale 3Q 11 4Q 11MLS. Note: All single$0 family closed within the South Florida
Quarterly Average Sales Price
10 1Q 12
FORT L AUDERDALE
11
12 2Q 12
2Q 11
3Q 11
4Q 11
1Q 12
$00
2Q 11
3Q 11
4Q 11
1Q 12
Quarterly Average Sales Price $2,500,000
0
Number of Sales
The Douglas Elliman Report series is recognized as the industry standard for CONDO/ TOWNHOUSENumber of Sales $1,000,000 Quarterly Average Sales Price LUXURY FORT L AUDERDALE providing the state of the residential real estate market. The report includes $2,500,000 $800,000 LUXURY SINGLE FAMILY an extensive suite of tools to help readers objectively identify and measure $2,000,000 $600,000 market trends, provide historical context to current information and provide $1,500,000 $400,000 comprehensive analysis of the results. $1,000,000 $200,000 $0 $500,000
020
2Q 12
100 100 80 80 60 60 40 40 20 020
0 2Q 12 Prepared by Miller Samuel Inc. Appraisal and Consulting Services
FORT L AUDERDALE LUXURY SINGLE FAMILY
Number of Sales
100