Pending Home Sales Up 80%

Fort Lauderdale Real Estate Trends
Single Family Homes Oct / Nov 2014

The real estate market for single family homes priced under $149,999 has seen a dramatic rise in pending sales

The number of homes Pending Sales are currently at over 80% above the total number of recent sales over the last 90 days!

Fort Lauderdale Real Estate Trends for Homes under $149,999

 

In this post we review Pricing and Inventory levels for single family homes for sale, pending sales and recent sales.

We also look at single family homes statistics in popular gay friendly neighborhoods.

Fort Lauderdale Homes for Sale
Price Analysis Report

Here is the price analysis report for 6248 x Fort Lauderdale single family homes currently for sale.

Price Range Quantity
$149,999 or under 890
$150,000 – $199,999 572
$200,000 – $249,999 443
$250,000 – $299,999 539
$300,000 – $349,999 635
$350,000 – $399,999 585
$400,000 – $449,999 368
$450,000 – $499,999 340
$500,000 – $549,999 202
$550,000 – $599,999 200
$600,000 – $699,999 246
$700,000 – $799,999 194
$800,000 – $899,999 152
$900,000 – $999,999 106
$1,000,000 or over 776
Total 6,248

 

We can see from this report the spread on inventory of Fort Lauderdale homes for sale across all price points.

Important to note from this report are the 890 homes for sale priced under $149,999.

Fort Lauderdale Homes Pending Sale
Price Analysis Report

Here is the price analysis report for 4880 x Fort Lauderdale single family homes currently pending sale.

Price Range Quantity
$149,999 or under 1,509
$150,000 – $199,999 796
$200,000 – $249,999 516
$250,000 – $299,999 525
$300,000 – $349,999 389
$350,000 – $399,999 320
$400,000 – $449,999 198
$450,000 – $499,999 149
$500,000 – $549,999 84
$550,000 – $599,999 83
$600,000 – $699,999 88
$700,000 – $799,999 50
$800,000 – $899,999 39
$900,000 – $999,999 30
$1,000,000 or over 104
Total 4,880

 

We can see from this report the spread on inventory of Fort Lauderdale homes currently pending sale across all price points.

Important to note from this report are the 1509 homes for sale priced under $149,999.

Contrast this report to our last report on pending home sales!
Especially to the comments on homes sales for homes under $250,000 by the National Association of Realtors.

Fort Lauderdale Homes Recent Sales
Price Analysis Report – Last 90 Days

Here is the price analysis report for 3966 x Fort Lauderdale single family homes sold in the last 90 days

Price Range Quantity
$149,999 or under 822
$150,000 – $199,999 518
$200,000 – $249,999 410
$250,000 – $299,999 472
$300,000 – $349,999 491
$350,000 – $399,999 350
$400,000 – $449,999 223
$450,000 – $499,999 129
$500,000 – $549,999 113
$550,000 – $599,999 82
$600,000 – $699,999 105
$700,000 – $799,999 61
$800,000 – $899,999 56
$900,000 – $999,999 26
$1,000,000 or over 108
Total 3,966

 

We can see from this report the spread on inventory of Fort Lauderdale homes recently sold across all price points.  Homes sold in the last 90 days / 3 months.

Again important to note from this report are the 822 homes sold priced under $149,999.

Kevin Wirth Realtor

My Summary

Typically when reviewing the price analysis report we see some up and downs in the numbers but seldom any really strong or significant real estate trends.

This month however there is the dramatic real estate trend of pending sales for single family homes priced under $149,999.

To recap:

  • 890 homes for sale priced under $149,999
  • 1509 homes for sale priced under $149,999
  • 822 homes sold priced under $149,999

We can see from this the 1509 pending homes for sale – which is a staggering increase of 80% over all the homes in this price range sold in the last 90 days!

What is driving the demand for homes in this price range?

I personally think it is a strong sign of confidence in the market especially for by both small and large scale investors looking to purchase single family homes for rent with a view to longer term capital appreciation.

Important to note however is if demand continues at this pace – the inventory of supply of homes for sale in this price range at 890 homes for sale – could be depleted rather quickly resulting in an overall increase in median prices for ALL Fort Lauderdale homes.

The 80% increase in pending sales is an important real estate trend by iteself – however the longer term impact in median sales price for ALL Fort Lauderdale Home would be truly a significant real estate trend impacting homes across all Broward County.

An important consideration for Gay and LGBT home buyers in this price range is that there are just 31 homes for sale in popular gay friendly neighborhoods here in Fort Lauderdale in this price range.

So if your looking to buy – now is the time!

I hope you have enjoyed my blog on Fort Lauderdale Real Estate and single family homes – by Kevin Wirth Fort Lauderdale Realtor