Fort Lauderdale Housing Market Looking Stronger

The Fort Lauderdale Area Association of Realtors released Listing and Sales figures for March 2007 showing the numbers for Fort Lauderdale real estate are up over the previous month.
The number of single-family home sales in March 2007 was 534, up 18% over February, while the number of condo sales was 605, an increase of 10% for the same period. Florida mortgage activity in this region has always been strong.

The average sales price for a Fort Lauderdale home in March 2007 increased by 15% over February, to $511,468. The median price for a single-family home increased 7% over the same period to $374,700.

The average sales price for a Fort Lauderdale condo in March 2007 which includes lofts and town-homes was up 3% over February to $253,624, while the median price remained the same at $195,000.

There were 8,511 new Fort Lauderdale property listings added to the already large inventory in March. The total number of properties on the market for the month of March 2007 including both single family homes, Florida condos, town-homes and lofts was 37,486, which represents an increase of 2% over February.

SOURCE: RISMedia