Broward Home Sales Rise, Prices Stabilize

Indsendt af Karen Hurst den sep 15, 2011 i Condos, Davie, Tvangsauktioner, Las Olas, Plantation, Enfamiliehuse, Southwest Ranches, Weston | 0 kommentarer

 

According to the Broward Council of the 24,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.

In Broward County
Condominium sales increased 12 percent from 1,159 in July 2010 til 1,293 sidste måned.

Single-family home sales increased eight percent, fra 1,005 til 1,087.

Statewide sales increased 12 percent to 13,874 for single-family homes as well as 12 percent to 5,904 for condominiums compared to July 2010.

Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops decreased 3.5 percent from June but were 21 percent above July 2010, according to the National Association of Realtors (NAR).

“Sales in Broward County continue to increase for both single-family homes and condominiums, which is a very positive sign,” said Terri Bersach, 2011 president of the Broward County Board of Governors of the MIAMI Association of REALTORS. “Strong sales activity, which is boosted by strong demand from foreign buyers, has resulted in a stronger and more stable market.”

Cash Transactions
In July, 61 percent of closed sales in Broward County were cash transactions. Cash sales accounted for 39 percent of single-family and 79 percent of condominium closings.

Median and Average Sales Price
Compared to July 2010, the median sales price in the Fort Lauderdale Metropolitan Statistical Area (MSA) for single-family homes increased five percent to $193,000.
The median sales price for condominiums remained unchanged at $81,200.
The average sales price for single-family homes decreased 9.5 percent, from $266,664 in June 2010 to $241,339 sfrae måned. The average sales prices for condominiums increased 12.1 percent, from 111,423 to $124,949.
Statewide median sales prices increased four percent to $87,800 for condominiums and dropped
one percent to $136,500 for single-family homes.
The national median existing-home price for all housing types was $174,000 in July, down 4.4 percent from July 2010.

“Rising sales combined with a decrease in distressed sales has helped strengthen home prices in Broward County,” said Natascha Tello, president-elect of the Broward County Board of Governors of the MIAMI Association of REALTORS. “Home prices have risen several times during this year, including in July. Despite a decline currently in bank-owned inventory, there is evident demand for non-distressed properties, which should positively impact home values in the future.”
Inventory Levels Continue to Fall

The inventory of residential listings in Broward County decreased 34 percent, fra 20,847 til 143,707, since July 2010 and three percent since last month. Total housing inventory nationally fell 1.7 percent at the end of July.

Distressed Properties
Short sales and foreclosures represented 47 percent, down five percent from June 2010, of total closed June sales in Broward County.
Bemærk: Statistics in this news release may vary depending on reporting dates.