Month: September 2013

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY August 2013

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently 4085­, Single Family Homes LISTED FOR SALE in Broward County.

­­­1371 priced under $250,000

1278 priced between 250,001 and $500,000

522 priced between $500,001 and $750,000

293 priced between $750,001 and $1,000,000

204 priced between $1,000,001 and $1,500,000

138 priced between $1,500,001 and $2,000,000

279 priced over $2,000,000

1

 

For the month of August, 1142, Single Family Homes SOLD in Broward County.

514 were sold under $250,000

453 were sold between 250,001 and $500,000

109 were sold between $500,001 and $750,000

40 were sold between $750,001 and $1,000,000

15 were sold between $1,000,001 and $1,500,000

5 were sold between $1,500,001 and $2,000,000

6 were sold over $2,000,000

2

 

 

There are currently 5786 Multi-Family Homes LISTED FOR SALE in Broward County. Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

4164 are priced under $250,000

1029 are priced between 250,001 and $500,000

244 are priced between $500,001 and $750,000

152 are priced between $750,001 and $1,000,000

112 are priced between $1,000,001 and $1,500,000

43 are priced between $1,500,001 and $2,000,000

42 are priced over $2,000,000

3

 

 

For the month of August, 1219 Multi-Family Homes were SOLD in Broward County. Note that many of the lower priced multi-family homes are located in Adult only communities with a over the age of 55 requirement to live there.

221 were sold under $250,000

152 were sold between 250,001 and $500,000

31 were sold between $500,001 and $750,000

16 were sold between $750,001 and $1,000,000

11 were sold between $1,000,001 and $1,500,00

1 was sold between $1,500,001 and $2,000,000

1 was sold over $2,000,000

 4

 

 

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth, Wellington and West Palm Beach.

There are currently 3582 single family homes listed For Sale in Palm Beach County.

­­867 priced under $250,000

1203 priced between 250,001 and $500,000

550 priced between $500,001 and $750,000

245 priced between $750,001 and $1,000,000

236 priced between $1,000,001 and $1,500,000

141 priced between $1,500,001 and $2,000,000

340 priced over $2,000,000

5

 

For the month of  August, 851 Single Family Homes SOLD* in Palm Beach County (Selected Cities Referenced).

387 were sold under $250,000

336 were sold between 250,001 and $500,000

69 were sold between $500,001 and $750,000

23 were sold between $750,001 and $1,000,000

16 were sold between $1,000,001 and $1,500,000

10 were sold between $1,500,001 and $2,000,000

9 were sold over $2,000,000

6

 

There are currently 3814 Multi-Family Homes LISTED FOR SALE in Palm Beach County. Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi-levels.

2824 are priced under $250,000

606 are priced between 250,001 and $500,000

169 are priced between $500,001 and $750,000

104 are priced between $750,001 and $1,000,000

61 are priced between $1,000,001 and $1,500,000

20 are priced between $1,500,001 and $2,000,000

40 are priced over $2,000,000

7

 

For the month of August, 818 Multi-Family Homes SOLD in Palm Beach county (Selected Cities Referenced).

735 were sold under $250,000

58 are sold between 250,001 and $500,000

15 were sold between $500,001 and $750,000

7 were sold between $750,001 and $1,000,000

2 was sold between $1,000,001 and $1,500,000

None were sold between $1,500,001 and $2,000,000

1 was sold over $2,000,000

8

 

 

Across the board, listings and sales were up in both counties, except sales were down in Broward and Palm Beach counties for Single Family homes. The listings up is a very good positive sign for the continued recovery

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale and the Realtor Association of the Palm Beaches.

 

 

703px-red-light-camera-springfield-ohioLast year, cameras were installed at University Drive and Riverside Drive (south), University Drive and Ramblewood Drive (north and south), University Drive and Shadow Wood Boulevard (north and south), University Drive and Royal Palm Boulevard (north), Sample Road and Riverside Drive (east), and State Road 7 and Wiles Road (south).

Because of these installations, violation captures have improved significantly. Bradley McKeone, traffic unit sergeant, “We are definitely improving. We are now catching violations that we earlier could not.”

With the performance of red light cameras at six intersections within the city as encouragement, the City of Coral Springs has now planned to install them at three more intersections. In the future, tag readers are also a possibility.

According to McKeone, the intersections being considered are Wiles Road and SR-7 (northbound), Sample Road and Northwest 62nd Avenue, and Sample Road and SR-7. Because of restrictions governing county roads currently in place, the city can only install cameras on state roads.

Thanks to the installed cameras, as many as 3,386 notice of violations (NOV) have been mailed from January 1 to June 30 this year, compared to 2,921 in 2012.

Aside from that, the installation of these red cameras resulted in a significant decrease in the number of serious accidents at intersections. In 2011, there were 11 accidents from September to April. The number fell to five in 2012. As of this year, there have been no such accidents.

The city also made adjustments to its traffic laws with those who run a red light being provided a 60-day leeway to pay their $158 fine or contest the ticket. If unable to settle within 60 days, a fine of $263 will be issued as a uniform traffic citation. A portion of the fine will go to the city.

Despite the $3,100 netter in 2012 from red lights cameras, officials say the program is not intended to be an income-producer for the city. In fact, Vice Mayor Tom Powers said, “The sole purpose of this is to reduce accidents at intersections. This does not change that philosophy whatsoever. This is about saving lives.”

With all these improvements to the city of Coral Springs, it’s now turning into one of the safest cities in the South Florida tri-county area. If you’re planning to relocate and find a home in Coral Springs, trust in the Great Florida Homes Team for all your real estate needs.

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The reports are in and according to the latest housing data from Florida Realtors, the Florida housing market gained lots of momentum with more closed sales, more pending sales, higher media prices and a smaller inventory of homes for sale.

Florida Realtors President Dean Asher claims “We’re seeing double-digit gains in state-wide closed sales, new listings, pending sales and higher median prices.” He continued on to say that these increases are taking place in both the single-family and townhome-condo markets. As a matter of fact, this July marks the 19th consecutive month when the state-wide single-family home median sales price has increased.

In short, the Florida housing market is growing and that could only mean good news for the local economy.

According to Sean Snaith, director of UCF’s Institute for Economic Competitiveness, “Florida’s economy may not be experiencing a full-blown Renaissance right now, but it is beginning to shake off the effects of the housing plague on its economy. 2013 is shaping up to be a year for Florida to transition back into higher growth!”

As 2013 is starting to give way to 2014, Florida’s economy will start to get better faster. Labor markets will improve and the housing prices will definitely benefit from the improving fundamentals. The economic and demographic growth will provide a solid foundation upon which a housing sector can grow in a much healthier manner. As soon as these key drivers are back in place for Florida, there’s nowhere else to go but up!

Some areas are set grow bigger and better than others and the Miami-Fort Lauderdale-Pompano Beach zones are one of those expected to have moderate growth.

Perhaps it’s good investment foresight too that most home buyers are starting to concentrate in the South Florida area. As a matter of fact, stories of homes going on the market and receiving offers higher than the listing price are not unheard of.

Take advantage of the great opportunities and the positive changes taking place in the South Florida housing market. Invest in the South Florida real estate and trust in the Great Florida Homes Team’s expertise for all of your real estate needs!