Broward County -- Interesting Housing Data

During Broward County's lowest inventory period April, 2005, there were 2,636 single family homes on the market or 1.8 months supply.  Now, we are looking at a 20 month supply, as there are over 16,000 homes in the marketplace.  Homes under $300,000 make up 49% of Broward's total inventory and 57% of the sales.  Single family homes over $1M make up 8% of inventory and 5% of total sales.  What are the median sale prices in Fort Lauderdale?  A single-family home median price is $260,000 vs. $353,000 just one year ago.  The median price of a condo is $125,000 vs. $179,000 in September 2007.  And, of course, about one-quarter to one-third of the inventory in Fort Lauderdale is ‘short sales' (pre-foreclosures) and foreclosures.  But we know it won't always be this way!  It's a great time to buy--and there are many bargains in Fort Lauderdale...and what a great place to live.