Fort Lauderdale Real Estate Trends – Pending Home Sales Up?

Fort Lauderdale Real Estate Trends
Homes July / August 2014

Here is our post on Fort Lauderdale Real Estate Trends for single family homes.

Pending Home Sales on the rise in Ft Lauderdale

Across the US Pending Home Sales are up – this is encouraging news after a sluggish start to the year.

The flourishing stock market the last few years has propelled sales in the higher price brackets, while sales for homes under $250,000 are 10 percent behind last year’s pace – reports the National Association of Realtors.

In Ft Lauderdale we have 2336 single family homes priced over $250,000 pending sale with 145 of these being in popular gay friendly neighborhoods.

Fort Lauderdale Homes Pending Sale
Price Analysis Report – Homes $250,000 Plus

Here is the price analysis report for pending home sales here in Ft Lauderdale – single family homes priced at $250,000 or more.

Price Range Quantity
$250,000 – $299,999 588
$300,000 – $349,999 496
$350,000 – $399,999 348
$400,000 – $449,999 213
$450,000 – $499,999 165
$500,000 – $549,999 99
$550,000 – $599,999 86
$600,000 – $699,999 111
$700,000 – $799,999 53
$800,000 – $899,999 53
$900,000 – $999,999 28
$1,000,000 or over 96
Total 2,336

 

Currently in Fort Lauderdale we have 2336 single family homes pending sale.

We can see from this report the spread of prices – with the largest number of homes pending sales priced between $250,000 – $299,999 – with 588 homes pending sale.

The next highest level of inventory for homes pending sale is for homes priced in the $300,000 – $349,999 price range – with 496 homes pending sale.

These two price ranges account for almost 1/3rd of all homes currently pending sale.

Fort Lauderdale Homes Pending Sale
Popular Gay Friendly Neighborhoods

The rise in pending sales is also evident in popular gay friendly neighborhoods.

Currently as at time of writing there are:

The market analysis report below highlights the data for pending homes for sale for these gay friendly neighborhoods.

Neighborhoods #Beds #FBaths SF/FF List Price LP$/SqFt DoM
W Manors / O Park 3 2 1,775 $325,000 $197 49
Coral Ridge 4 3 2,694 $920,000 $293 124
FtLauderdaleBeach 3 3 2,394 $1,197,500 $426 98
Pompano Beach 3 2 1,867 $449,000 $236 27
N/AndrewsGardens 3 2 1,832 $390,000 $211 43
Lauderdale Lakes 3 2 1,871 $299,000 $151 20
Sea Ranch Lakes 3 2 2,222 $531,777 $260 14

 

As one of the top Gay Realtor here in Fort Lauderdale it is encouraging to see the number of homes pending sale – AND also to see home prices continue to climb!

The report above shows us the median homes price for homes pending sale by popular gay friendly neighborhood and we can see how median prices range from $299,000 in Lauderdale Lakes to $1,197,500 here on Ft Lauderdale Beach.

What is important to note – especially if you are a gay or LGBT buyer and you are looking for a home in one of these popular gay friendly neighborhoods is the Days on Market or DoM.

The DoM is how long the home has taken to go under contract from the date of listing till the date the home went pending sale.

We can see the shortest median DoM is just 14 days in Sea Ranch Lakes – an up and coming gay friendly neighborhood.

We can see the longest DoM is in Coral Ridge.

 

Kevin Wirth Fort Lauderdale Realtor

Fort Lauderdale Real Estate Trends
Pending Sales Up – My Summary

Increases in Pending Homes Sales combined with increasing prices in many of the most popular Gay and LGBT friendly neighborhoods is a very encouraging Fort Lauderdale Real Estate indicator.

Many of the Gay Fort Lauderdale realtors I work with agree that this is placing pressure on buyers to act quickly when they find a home they like – especially if it is in a popular gay friendly neighborhood with a low DoM (Days on Market) – like we are seeing in many of the most popular neighborhoods.

I hope you have enjoyed my blog on Fort Lauderdale Real Estate Trends for Single Family Homes – by Kevin Wirth Realtor