Fort Lauderdale Residential Real Estate

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Update:  South Florida Sun-Sentinel reported on June 4, 2006 that though 400 people a day are moving out of Florida to other states, 1000 a day are still moving here.  The net increase in Florida's population of 400 people a day will continue to cause home values in Florida in general and Fort Lauderdale residential real estate prices in particular to rise. 

Increases Fort Lauderdale real estate prices are moving faster than in other U.S cities.

Population Growth increased Fort Lauderdale housing prices, as well as record-low interest rates, dramatic increases in the price of concrete and steel, and investor speculation.  So the price of Fort Lauderdale Real Estate is escalating at as much as 30% a year. 

Home prices in Fort Lauderdale are also being driven up by the lack or homes on the market.  Broward County showed a 10 percent drop in sales in March 2005 compared to a year ago.  Homeowners are sitting tight on their appreciating homes, holding real estate off the market and driving prices up further still.   

The state captured eight of the top 10 spots in a report released Thursday by the National Association of Realtors that ranked price changes in 136 metro areas. It was Florida's best showing ever.

The price of an existing single-family home in Palm Beach County rose by the third-highest percentage in the nation during the first quarter of 2005, according to the National Association of Realtors. Prices rose 36 percent over the same period last year to a median price of $363,600.

Fort Lauderdale, Wilton Manors, Oakland Park, Lauderdale by the Sea and other Broward County cities saw median home prices reach $332,400 in March 2005 compared to March 2004. 

Broward County had a 32 percent increase to $322,000 and Miami-Dade County median home prices rose by 30 percent to $363,600

Prices for single family homes in Fort Lauderdale have gone up more than 30% in a year.  Other Fort Lauderdale Real Estate like condominiums and townhomes have seen similar price increases. 

E-Mail AndyWeiser@aol.com