Curious how the Fort Lauderdale, Florida real estate market is doing? In this 2022 Mid-Year Housing Report, we’re looking at home sales in the first half of 2022 compared to the first half of 2021 and how the market performed in that area.
Home Sales Down 21.30% & Prices Up 32.63%
As of June 30, 2022, home sales in Fort Lauderdale decreased by 21.3% now down to 2,512 sales in the first half of the year compared to 3,192 in the same time period last year.
Average prices increased by 32.63% moving from $865,186 now up to $1,147,462.
These metrics include single families and townhouses/condos. The categorical breakdowns are listed in the infographic above.
There were 3,134 homes listed in the first half of 2022, a 4.25% negative change from the same period last year which had 3,273 listings.
Fort Lauderdale in the first half of 2021 had 3,749 contracts accepted compared to 2,687 in the same time period this year, an 28.33% decrease.
Fort Lauderdale’s housing market performed similarly to the housing market nationally, with sales down and prices up. With mortgage rates increased, sales are expected to continue their decrease, as the rates affect buyer affordability and many have had to exit the market given increased rates. Despite a lessening in demand, prices are still expected to increase as we move into the 2nd half of the year, but the rate of increase has slowed and will continue to slow down more.
To learn more about South Florida performance and the predictions for the rest of the year, click here to read the 2022 South Florida Mid-Year Report.
Data provided by SunStats and compared to the prior year.
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