Fort Lauderdale Real Estate Trends | September Q3 2022

The Latest Fort Lauderdale Real Estate Trends for September 2022. Fort Lauderdale is in the midst of a real estate market shift. The market analytics of the change has become more evident in the past three months. The overall effect across all markets in Fort Lauderdale compared to the previous three to six months includes:

• 67% increase in available inventory.
• 38% decrease in sales volume.
• 168% increase in the months of inventory supply.

These results are for Fort Lauderdale single-family homes $1 million plus. Each sub-market is experiencing the shift differently. Some strong Seller Markets remain, but Buyer Markets are emerging at specific price points. Below we continue the market evaluation by price point and encourage you to contact our Fort Lauderdale Market Expert, Elaine Tatum, for in-depth analytics of neighborhood information.

The $1M-$3M Market

Single Family Homes in the $1 – $3 million range experienced the highest increase of new listings coming to the market in the prior three months. The increase was 105% compared to the previous four to six months range. During the same time frame, sales slowed by 38%. These figures sound like a significant differential but balancing the market with an inventory supply of 6 months results. This result is ideal for a balanced market. The inventory absorption rate is still high at 33%, so we consider this price range a Seller’s Market.

The $3M+ Market

All other price range sub-markets are shifting to Buyer Markets. In the $3 – $5 million range, inventories have increased by 52% in the prior three months, but sales have slowed by 68%. These sale results leave us with a 7-month supply of remaining inventory and more choices for Buyers. Inventory has steadily grown as we progress to the higher price points between $5 to $10 million. Introducing new construction products has contributed to inventory growth throughout the prime and ultra-prime neighborhoods. There is now an average of 27 months of on-hand inventory. As a result, sellers should expect more aggressive negotiations and price adjustments in this sub-market.

As always, contact Elaine Tatum our Fort Lauderdale Market Expert, for representation or information. Cheers