February 2017 has definitely proven that this gradual turn to a "Buyer's Market" is here to stay. The average months of inventory is 11.1 months, up 12.2% compared to last month and up 33.9% since last year. This data has been compiled from a search of single family homes, townhomes and condos in Ft. Lauderdale. Single family homes are currently selling at a more stable pace compared to condos and townhomes, however, with only 8.2 months of single family home inventory currently on the market. The average number of days a listing is on market is 86, so if you plan on listing your home, patience is key! If you are considering selling your home, do not despair! Although the market has shown an overall all slow down, in the last month, the average sold price per square foot is up 8.9% and sitting at $307/SF. Contact Felicia Myers today if you are interested in a detailed market analysis of your area!
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