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

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY March 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 3882­,Single Family Homes LISTED FOR SALE in Broward County.

­­­1347 priced under $250,000
1094 priced between 250,001 and $500,000
486 priced between $500,001 and $750,000
292 priced between $750,001 and $1,000,000
239 priced between $1,000,001 and $1,500,000
120 priced between $1,500,001 and $2,000,000
304 priced over $2,000,000

For the month of March, 876, Single Family Homes SOLD in Broward County.

468 were sold under $250,000
319 were sold between 250,001 and $500,000
53 were sold between $500,001 and $750,000
14 were sold between $750,001 and $1,000,000
11 were sold between $1,000,001 and $1,500,000
7 were sold between $1,500,001 and $2,000,000
4 were sold over $2,000,000

There are currently 5676 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.

4026 are priced under $250,000
1007 are priced between 250,001 and $500,000
265 are priced between $500,001 and $750,000
152 are priced between $750,001 and $1,000,000
129 are priced between $1,000,001 and $1,500,000
52 are priced between $1,500,001 and $2,000,000
45 are priced over $2,000,000

For the month of March, 1225 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi-family homes are located in Adult only communities with an over the age of 55 requirement to live there.

1046 were sold under $250,000
128 were sold between 250,001 and $500,000
31 were sold between $500,001 and $750,000
10 were sold between $750,001 and $1,000,000
5 were sold between $1,000,001 and $1,500,00
2 were sold between $1,500,001 and $2,000,000
3 were sold over $2,000,000

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 3983 single family homes listed For Sale in Palm Beach County.

­­920 priced under $250,000
1315 priced between 250,001 and $500,000
569 priced between $500,001 and $750,000
318 priced between $750,001 and $1,000,000
260 priced between $1,000,001 and $1,500,000
176 priced between $1,500,001 and $2,000,000
425 priced over $2,000,000

For the month of March, 776 Single Family Homes SOLD in Palm Beach County.  (Selected Cities Referenced).

413 were sold under $250,000
245 were sold between 250,001 and $500,000
57 were sold between $500,001 and $750,000
18 were sold between $750,001 and $1,000,000
22 were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
17 were sold over $2,000,000

There are currently 4141 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.

2996 are priced under $250,000
671 are priced between 250,001 and $500,000
208 are priced between $500,001 and $750,000
121 are priced between $750,001 and $1,000,000
73 are priced between $1,000,001 and $1,500,000
27 are priced between $1,500,001 and $2,000,000
45 are priced over $2,000,000

For the month of March, 965 Multi-Family Homes SOLD in Palm Beach county. (Selected Cities Referenced).

859 were sold under $250,000
74 were sold between 250,001 and $500,000
13 were sold between $500,001 and $750,000
9 were sold between $750,001 and $1,000,000
5 were sold between $1,000,001 and $1,500,000
1 was sold between $1,500,001 and $2,000,000
4 are sold over $2,000,000

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.

In single family across both counties listings are down. This is reflected by people still trying to build equity from the downturn of 2006-2010.  Closed sales for single family were down over last month  in Broward but up slightly in Palm Beach county.  Both counties show a decline in listings for multi-family listings, and closed sales for mutli-familywere both up slightly over February.

This continued trend of less supply, will drive prices up, however there is still the appraisal issue to contend with and appraisals are largely based on previous sales. Cash sales can override this issue.  With the lack of inventory, you have to expect multiple bids on available listings that are in good condition to sell.