Broward County January 2016 Market Update

The National Numbers came out the other day showing that Nationally Homes are up 11% in January 2016 versus January 2015.  While the news loves to report on National Statistics with Home Sales...at the end of the day it's the same as a Weather Man telling you that the Average Temperature in the Country is 73 Degrees.

Your Area or even your street could be 30 Degrees and it could be 100 Degrees Somewhere Else.  Jay Top Fort Lauderdale Real Estate Agent with The Edwards Real Estate Group studies the local Fort Lauderdale Real Estate Market and Broward County Florida Market.

Just Listed in Ft Lauderdale	Under $100,000	Under $200,000
Under $300,000	Under $400,000	Under $500,000
Under $600,000	Under $700,000	Under $800,000
Under $900,000	Under a Million	Luxury Homes in Ft Lauderdale

We Study the National Real Estate Numbers so that we can have conversations with our clients about whats happening Nationally and then relate that to our local markets.  Even different Price points in South Florida can tell a different story.

Let's Get into how we did in January 2016 in Broward County Florida:

Single Family Homes Trending from November 2014 to January 2016:

In January 2016 there were 5,144 Homes on the Market for Sale, 892 Homes Actually SOLD in January and 1,551 Homes were Pending in January.

Looking at this chart the light green shows you everyone who is trying to sell their home and the dark green are all the homes that sold.  Now for the past year and a half we have had roughly 5100 homes give or take for sale.  Those numbers don't matter if your goal is to sell your home.  When Selling your home in Broward County you want to be the Dark Green line that actually Closed!

Would you rather be one of the 5144 Homes on the market in January or one of the 892 Homes that SOLD and went home with money?

January 2016 Home Sales in Broward County are up 6.6% versus January 2015.

Now this is a Overall View of any Single Family Home in Broward County. Again like the national home sales, this information is important to understand however it does tell the story for your specific home.

Once have have this narrowed down to County then we can go further into detail by Price Point and More.

While Florida still has quite a bit of inventory of Short Sale and Foreclosed Homes, the number of homes has dropped dramatically.  If we look at the same chart as above remove REO (bank owned) or Short Sales the numbers only drop slightly. 

Slight Change, again in the Broward County Real Estate Market you will want to ensure your home is one of the dark green homes that actually sells.  The Active Homes For Sale on the market is like everyone who wants to audition for American Idol....The Light Green are all the people who think they can sing and the Dark Green are the ones who made it to Hollywood!

Now that we have the homes that are not foreclosures or short sales we can narrow it down by price points.  This blog will be too long to post ALL the price points so I'll just post a few.  In Broward County the lowest inventory are homes under $100,000.  

Less than 70 Homes sold in January 2016 that were under $100,000.  Many of them could be homes in the 55+ Communities, which restricts ownership to homeowners who are 55 years old or older.

Lets look at the $300,000 - $500,000 price point next.  

There were 1,334 homes For Sale in January and only 234 that actually sold with 389 pending.   The Data Varies from price point to price point, and then street by street.  The ONLY true way to know whats happening in your specific neighborhood is to Contact Jay Cermak Top Fort Lauderdale Real Estate Agent with The Edwards Real Estate Group at 954.235.3589 and we can pull up information in your specific neighborhood to see whats happening locally.

Last thing we want to do is look at the data for the past 10 years in all of Broward County.  Many analysts have stated we were in a real estate bubble in 2006.  And we all know how that turned out.  The Good News is we are definitely out of that bubble and in Broward County we have a strong real estate market.

Notice the Light Green Homes that were active sales are the most dramatic Change.....and they stopped declining around July 2013 and the active homes for sale has been going up and steadying.  These are all people who are trying to make it to Hollywood!

What's great to see about the Real Estate Market for Single Family Homes in Broward County is from 2006 to 2016 that green line has been rising slightly.  No Matter what the media tells you or when a market shifts or not.  Broward County has a strong market of SOLD homes from 2006-2016.  

When you hear people talk about seasonality or dramatic changes in the real estate market they typically are talking about Active Homes for Sale because thats were we can see the most dramatic change in numbers.  You rarely hear anyone say in Broward County we have a strong SOLD market of homes that get sold steadily for the past 10 years.

If you are considering selling your home Contact Jay Cermak Top Fort Lauderdale Real Estate Agent with The Edwards Real Estate Group at 954.235.3589 and schedule a FREE Real Estate Consultation with one of our Top-notch Real Estate Agents.

Jay Cermak and The Edwards Real Estate Group studies the real estate market and will help YOU achieve your goal of landing on the Dark Green and becoming a SOLD home not one of the over 5,000 homes trying to sell.