Local Market Watch
Here's what's happening to property values in our area. Check back each month and stay on top of market trends.
Figures from the MLS compiled by the Realtor® Association Of Greater Ft. Lauderdale.
| June, 2008 | Average Price | Median Price | Available | Sold |
Absorption Rate* |
|
SINGLE FAMILY HOMES |
$409,376 | $295,000 | 12,472 | 620 | 20 |
| Change from last month | 8% | 0% | 0% | 32% | -25% |
| Change from this month last year | -21% | -23% | 1% | 3% | -1% |
|
CONDOS |
$201,024 | $146,500 | 15,628 | 649 | 24 |
| Change from last month | -9% | 5% | -2% | 10% | -12% |
| Change from this month last year | -20% | -25% | -8% | 12% | -18% |
*Absorption rates are calculated by taking the number of active listings on the market and dividing by the number of properties sold to determine the number of months it would take to sell existing inventory at this rate.
Note: The above statistics were compiled in early July. Additional sales for June may be reported that are not reflected.
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