Proper Pricing Continues to Drive Sales
The situation may be slowly improving for Fort Lauderdale real estate but it’s still a tough market out there, especially if you’re among the many people trying to sell their homes for anything above $300,000. Nowadays it’s the property carrying a $100,000 price tag that’s seeing the most buying and bidding activity.
The median price for single family Fort Lauderdale homes once again came down in October, dropping nearly twenty percent from the year before to an average of $211,600. Prices have continued to fluctuate within a certain amount however, suggesting that the much anticipated “bottom” of the market may be close at hand.
Because it’s tougher to actually get a mortgage loan for any type of Fort Lauderdale real estate costing more than $300,000, the more agreeably priced property is where the majority of positive market activity is occurring. In fact, sales improved by a little more than thirty percent in Broward County in October when compared to 2008. It may still be a tough market but these trends do show signs that 2010 may bring some additional good news.
