Market Conditions Improve Within Broward County: Fort Lauderdale Real Estate Prices Up By 7 Percent
The city of Fort Lauderdale is recognized for its fascinating appeal which holds such similarities to Venice, the city in northeastern Italy which is famous for its expansive canal system which is also present within the county seat of Florida’s Broward County area.
Due to its unique city setting, many people from around the world come to the city in order to experience the comforts that are offered within the major yachting center and that includes having such a wonderful selection of residential property options which are found on today’s Fort Lauderdale real estate market.
A total of 6,886 homes were sold in the first quarter of 2011. Today, the home sales have risen to as many as 7,403.
Across the Broward County area, sales have been seen growing in strength which also brings property prices up by consistent amounts over the last couple of months. Property buyers seen within the region include both local and international people who are expected to bring long-term benefits to the region.
Today, single-family homes within the Broward County area are at $180,000 which marks an increase of 16 percent compared to the year before. Condominiums, on the other hand, are at $75,000 which marks an increase of only 9 percent compared to the year before.
As far as the inventory supply for the local housing market, the county has seen a drop of as much as 29 percent on a year-over-year basis with a decrease of 13 percent from the fourth quarter of 2011.
People who have been particularly drawn to the Broward County area are guaranteed to find current market conditions to be very promising, especially since analysts stand firm in the belief that it is going to continue to offer encouraging news in the upcoming months.
If you happen to be one of the many property buyers who are looking for the opportunity to purchase Fort Lauderdale real estate properties before property prices experience a rapid increase in value then you should get in touch with a real estate agent that can provide you with full information on all your available options today.
Yaz Morgan
Fort Lauderdale Real Estate
