October 2024
Fort Lauderdale Market Update
The Fort Lauderdale housing market saw significant changes in October 2024, reflecting evolving trends for both single-family homes and townhouses/condos. Here's a breakdown of the key statistics and insights to help you understand the current market conditions.
Fort Lauderdale Single-Family Homes – October 2024
In October 2024, Fort Lauderdale's single-family home market showed a mix of growth and challenges:
- Closed Sales: 134, up 33% from last year, highlighting strong buyer activity.
- Median Sales Price: $634,500, down 8.7%, making homes more affordable for some.
- Active Inventory: 887, a 25% increase, providing buyers with more options.
- Months Supply of Inventory: 6.9 months, up from 6.0 months, indicating a shift toward a more balanced market.
- New Listings: 240, down 11%, signaling fewer sellers entering the market.
- New Pending Sales: 111, down 12%, reflecting tempered buyer demand.
These numbers suggest growing inventory and increased buyer activity but a slower pace in new listings and pending sales.
Fort Lauderdale Townhouses and Condos – October 2024
For townhouses and condos, the October 2024 data indicates notable inventory growth alongside declining prices and sales:
- Closed Sales: 117, down 11%, showing softened demand.
- Median Sales Price: $385,000, down 11%, offering more affordability.
- Active Inventory: 1,547, up a remarkable 52%, giving buyers broader choices.
- Months Supply of Inventory: 11.4 months, up from 6.7 months, signaling a strong buyer's market.
- New Listings: 268, down 11%, suggesting seller hesitation.
- New Pending Sales: 116, down 2.5%, reflecting steady but slower buyer activity.
These shifts in the townhouse/condo market suggest opportunities for buyers while sellers face increased competition.
