April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
- New Listings increased 50.3 percent for Single Family homes and 95.1 percent for Townhouse/Condo homes.
- Pending Sales increased 153.2 percent for Single Family homes and 325.6 percent for Townhouse/Condo homes.
- Inventory decreased 61.3 percent for Single Family homes and 41.3 percent for Townhouse/Condo homes.
- Median Sales Price increased 21.1 percent to $460,000 for Single Family homes and 19.6 percent to $220,000 for Townhouse/Condo homes.
- Median Time to Contract decreased 55.2 percent for Single Family homes and 8.1 percent for Townhouse/Condo homes.
- Months Supply of Inventory decreased 69.8 percent for Single Family homes and 56.9 percent for Townhouse/Condo homes.
While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
View city-specific real estate sales for Fort Lauderdale, Oakland Park, and Wilton Manors.