The Fort Lauderdale Real Estate Market Now Has Less Home Options But More Condominiums
Much of the fascination which has made it one of the must-see locations found within the United States today is the fact that its extensive canal networks easily gives off the impression of being within Venice in Italy which inevitably gives people that feeling of being within a sophisticated setting which is a quality that a lot of property buyers look for in a location.
Due to the fact that more and more people have been showing an interest in the many different options that are currently being made available on the Fort Lauderdale real estate market, there has been a positive growth on the local market which has paved the way for even more developments to further encourage the increasing demand for real estate options within the city.
The aforementioned developments have been focused on more than just residential property options as even the commercial real estate sector has been receiving heavy amounts of activity as more shopping centers, dining options, and a variety of other commercial spaces are being snatched off the market by investors who understand how they can benefit from the high potential that exists in Fort Lauderdale today.
Today, the residential sector of the Fort Lauderdale real estate market is one of the most highly sought after options within Florida today as proven by the decreasing inventory which has dropped by as much as 10.8 percent in the last year despite the fact that median sales prices on single-family home properties within the city have already gone up by as much as 41.8 percent with an average sales price of $160,000.
Condominium properties, on the other hand, have experienced an increase in their inventory upon the arrival of more developments projects which have brought the inventory up by 90.2 percent to allow for almost a year’s supply of condominiums. The median sales price on condominiums on the Fort Lauderdale real estate market has gone down by 2.1 percent to values which are now at $190,000.
If you would like to learn more about available options on the Fort Lauderdale real estate market then you can easily do so by searching online or getting in touch with one of the many real estate agents that specializes in options within the city.
Joan Vonnegut
Fort Lauderdale Real Estate
