According to the recent Realtor Edge issue, which is the official publication for the Realtor(R)'s of Greater Fort Lauderdale. (www.R-world.com), the situation is as follows:

1. Sincle family homes were up in February by 15%, condos/townhomes were also up by 15% and of all property types they were up a total (no-brainer) 15%.  Well that is good until you realize #2.

2. Last year there were 2949 single family homes sold versus 2450 sold this February.

3. Last year there were 3789 condos/townhomes sole versus 2894 sold this February.

4. The total of all the properties sold declined by 16%.

The available inventory here in South Florida is such:

1. There are/were at the time of this published information 12,378 single family homes for sale.

2. There are/were at the time of this published information 16,290 condos/townhomes for sale.

3. The total amount of properties available at the time this information was published was 37,740 residences of some sort. In the month of January, there were 37,604.

Closed sales for single family homes were down 29% or almost a 40% change since last year. The average sales price was between $478,422 and $443,208.  The median price is between $323,000 and $305,900.

Closed sales for condos/townhomes were down only 5% or a 29% change from last year.  The average sales price for condos/townhomes was $213,687. and $222,577. or a change from last year of 13%. The median price as between $145,000. and $163,700. or a change from last year of about 26%.

This information is according to the statistic provided by Realtor Edge newsletter. April 2008 issue.

So as we see...it's a rough market!

How are things in your area?

http://www.karenmonsour.com, cell 954-464-4194, EXIT Realty Properties, Broward County, Florida