Fort Lauderdale HOME Index | November 2017

Every six months or so, I analyze different value analytics in the premier neighborhoods of Fort Lauderdale for our review and for a better understanding of local market trends.

Fort Lauderdale Home Index Overview:

Fort Lauderdale (East of US-1) has 475 homes for sale in NOV with 36 closed over the last 30 days making this a buyer’s market with a 13-month supply. There have been 418 homes sold this year with the median sale price of $967,500 and median sale price per square foot of $376. It has taken an average of 147 days (4.9 months) for a home to sell in Fort Lauderdale.

As we understand these general figures above, it’s the micro-stats that matter. Here are the most desirable areas in Fort Lauderdale with neighborhood statistics and trends as we close out 2017.

Available Homes, Median List Price & Median Price Per Square Foot for Homes Active on the MLS

• Fort Lauderdale Beach – 96 Homes for sale | Median List Price $2.173M | Med. PPSF $636
• Lauderdale by the Sea  – 28 Homes for sale | Median List Price $1.025M | Med. PPSF $429
• Coral Ridge  – 96 Homes for sale | Median List Price $1.363M | Med. PPSF $425
• Las Olas  – 30 Homes for sale | Median List Price $2.095M | Med. PPSF $620
• The Landings  – 17 Homes for sale | Median List Price $1.390M | Med. PPSF $555
• Harbor Beach  – 30 Homes for sale | Median List Price $3.695M | Med. PPSF $745
• Bay Colony  – 8 Homes for sale | Median List Price $4.250M | Med. PPSF $652
• Bermuda Riviera  – 2 Homes for sale | Median List Price $1.175M | Med. PPSF $450
• Rio Vista  – 37 Homes for sale | Median List Price $1.795M | Med. PPSF $519
• Victoria Park  – 20 Homes for sale | Median List Price $744K | Med. PPSF $379
• Sunrise Intracoastal  – 6 Homes for sale | Median List Price $1.572M | Med. PPSF $487

# Homes SOLD in 2017, ‘Median’ Sale Price, Price Per Square Foot, Sale Price to List %, and # Days On Market (DOM)

• Fort Lauderdale Beach – 81 Homes Sold | Median Sale Price ⬇$1.150M | Med. SP$/PSF ⬇$432 | SP/LP% 92 | DOM 114
• Lauderdale by the Sea – 28 Homes Sold | Median Sale Price ⬇$613K | Med. SP$/PSF ⬆$320 | SP/LP% 95 | DOM 38
• Coral Ridge – 122 Homes Sold | Median Sale Price ⬆$838K | Med. SP$/PSF ⬆$327 | Med. SP/LP% 94 | DOM 79
• Las Olas – 21 Homes Sold | Median Sale Price ⬇$1.6M | Med. SP$/PSF ⬇$443 | Med. SP/LP% 93 | DOM 165
• The Landings – 12 Homes Sold | Median Sale Price ⬆$963K | Med. SP$/PSF ⬇$350 | Med. SP/LP% 95 | DOM 83
• Harbor Beach – 17 Homes Sold | Median Sale Price ⬆$1.920M | Med. SP$/PSF ⬇$463 | Med. SP/LP% 87.6 | DOM 114
• Bay Colony – 3 Homes Sold | Median Sale Price ⬆$3M | Med. SP$/PSF ⬆$550 | Med. SP/LP% 87.5 | DOM 35
• Bermuda Riviera – 1 Homes Sold | Median Sale Price ⬆$1.9M | Med. SP$/PSF ⬆$550 | Med. SP/LP% 84 | DOM 58
• Rio Vista – 46 Homes Sold | Median Sale Price ⬆$1.226M | Med. SP$/PSF ⬆$435 | Med. SP/LP% 93.5 | DOM 88
• Victoria Park – 31 Homes Sold | Median Sale Price ⬆$645K | Med. SP$/PSF ⬆$340 | Med. SP/LP% 95.4 | DOM 122
• Sunrise Intracoastal – 6 Homes Sold | Median Sale Price ⬆$1.065M | Med. SP$/PSF ⬆$378 | Med. SP/LP% 94 | DOM 138

Fort Lauderdale Home Index Summary

The arrows simply show pricing trends for each neighborhood based on 2017 sale prices and selling price per square foot in contrast to last years study. I’ll be using these same figures above again with the next Fort Lauderdale neighborhood home index to compare and evaluate new 2018 trends in our local market.

Fort Lauderdale HOMES – $500,000 & Up – Zip Codes 33301, 33304, 33305, 33306, 33308, 33316 – a 3-Year TRENDS Chart

Average Sold Price per Square Footage in October 2017: $476
Up 11% compared to last month
Up 10.4% compared to last year

Home For Sale in October 2017: 1138 units.
Up 3.5% compared to last month
Down 1.9% compared to last year

Home Closed in October 2017: 73 units.
0% compared to last month
Up 25.9% compared to last year

Home Placed under Contract in October 2017: 87 units.
Up 55.4% compared to last month
Up 31.8% compared to last year

Average Days on Market in October 2017: 156
Up 6.1% compared to last month
Up 20.9% compared to last year

Sold/Original List Price % in October 2017: 82%
Down 6.8% compared to last month
Down 5.7% compared to last year

Months of Inventory based on Closed Sales in October 2017: 15.6
Up 3.3% compared to last month
Down 22% compared to last year

(Figures are derived from the Matrix Multiple Listing Service & Trendgraphix November 2017)