Is Fort Lauderdale, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fort Lauderdale was a Seller's Market.
Key Takeaway
Fort Lauderdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fort Lauderdale, FL
How much do homes in Fort Lauderdale, FL cost?
Median Sold Price
$475,183
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Fort Lauderdale have sold for 8% more than they did a year ago.
Summary: The median home sold price in Fort Lauderdale was $475,183 in May 2024, up 8% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $261K | +4.4% |
| 2 Bedrooms | $395K | $410K | +3.8% |
| 3 Bedrooms | $460.9K | $489.6K | +6.2% |
| 4 Bedrooms | $600K | $737.5K | +22.9% |
| 5+ Bedrooms | $1.3M | $1.4M | +7.7% |
Summary: Fort Lauderdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
| Lauderhill | $175.1K | $220.5K | +25.9% |
| Lauderdale Lakes | $136.6K | $155.5K | +13.8% |
| Fort Lauderdale | $440K | $475.1K | +8.0% |
| Oakland Park | $380K | $393K | +3.4% |
| Wilton Manors | $600K | $575.5K | -4.1% |
Housing Supply in Fort Lauderdale, FL
How many homes are available in Fort Lauderdale, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,239 | 1,351 | +9.0% |
Summary: The Fort Lauderdale real estate market had 1,351 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 161 | 174 | +8.1% |
| 2 Bedrooms | 391 | 424 | +8.4% |
| 3 Bedrooms | 417 | 465 | +11.5% |
| 4 Bedrooms | 192 | 200 | +4.2% |
| 5+ Bedrooms | 78 | 88 | +12.8% |
Summary: The Fort Lauderdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 154 | 139 | -9.7% |
Asking Price vs. Sold Price
105 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fort Lauderdale, you may be able to get a good deal. 75.5% of homes here sold below asking price last month.
Summary: A total of 139 homes were sold or pending in Fort Lauderdale in May 2024, down by 9.7% month-over-month. Of the 139 sold homes, 76% were sold under asking, 19% were sold at asking, and 6% were sold over asking.
Days on Market for Fort Lauderdale, FL
How long does it take to sell a home in Fort Lauderdale, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 58 Days | +19.1% |
Summary: Homes in Fort Lauderdale had an average of 58 days on market in May 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
61 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Fort Lauderdale has remained consistent over time.
Summary: During May 2024, 139 homes were sold in Fort Lauderdale; 37% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is for consumers` personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.
Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.