December 2024
Fort Lauderdale Market Update
Fort Lauderdale's real estate market closed out December 2024 with diverse trends across single-family homes and townhouses/condos. Whether you’re buying or selling, understanding the latest data is essential for making informed decisions in this thriving coastal city.
Fort Lauderdale Single-Family Homes
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Closed Sales: 114, down 9.5% year-over-year.
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Median Sales Price: $694,750, up 25% from last year.
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Active Inventory: 851, a 20% increase year-over-year.
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Months of Supply: 6.7 months, up from 5.7 months last year.
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New Listings: 154, a 5.5% increase from last year.
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New Pending Sales: 92, down 7.1% year-over-year.
Single-family homes in Fort Lauderdale saw a steep rise in median sales price and inventory, reflecting a growing interest in luxury properties and expanded options for buyers. However, slightly fewer homes reached pending status compared to last year.
Fort Lauderdale Townhouses and Condos
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Closed Sales: 130, up 3.2% from last year.
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Median Sales Price: $417,500, a slight 1.2% decrease year-over-year.
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Active Inventory: 1,638, up 44% year-over-year.
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Months of Supply: 12.1 months, up from 7.6 months last year.
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New Listings: 286, a 9.2% increase from last year.
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New Pending Sales: 95, down 19% year-over-year.
The townhouse/condo market showcased a modest uptick in sales activity despite a small dip in median sales price. The dramatic increase in inventory and supply signals more choices for buyers, but declining pending sales may point to buyer caution.
