Ft Lauderdale Real Estate News 4/23/17
Fort Lauderdale Home Values Show 10.9% Annual Appreciation
Florida's housing market reported more closed sales, higher median prices and increased pending sales in March, according to the latest housing data released by Florida Realtors. Sales of single-family homes statewide totaled 25,921 last month, up 9.3 percent compared to March 2016.
"March's strong sales likely were influenced by buyers ready to take action before interest rates could move higher," says 2017 Florida Realtors President Maria Wells. "Higher demand, coupled with a shortage of available homes for sale, continues to put pressure on prices – so buyers are eager to make an offer when they find the right property.
"That means it's a good time for sellers to list their homes since they continue to receive a higher sales price as inventory remains scarce," Wells adds. "In March, sellers of existing single-family homes received 96.1 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent – an indication that the listed price is extremely close to market value.
"Consumers who work closely with a local Realtor have an expert guide to help them navigate the often-complex process of buying or selling a home."
The statewide median sales price for single-family existing homes last month was...