MID-YEAR 2024
FORT LAUDERDALE, FL
Real Estate Market Recap

Increasing inventory levels in South Florida was the key market statistic to watch in the first half of 2024. Fort Lauderdale was no exception as the city saw a significant rise in active inventory in the first half of 2024. Important to note that this increase can largely be attributed to condos & townhomes as many owners are opting to list versus pay for the costs of increased regulatory requirements through special assessments, increased HOA fees, etc. For buyers, increased inventory means more options. There are also typically fewer buyers in the market right now meaning the level of competition we have been seeing in the market will start to lessen. Consequently, we are already seeing homes sit on the market longer than “normal” and requiring price adjustments. Sellers, pricing your home competitively will be crucial to selling your home fast and for the most money. For buyers, with increased mortgage rates, increased average sale price, increased cost of homeowners insurance, etc. straining affordability, staying informed and prepared to strike when an opportunity arises will be essential to finding success in this market.

To learn more about South Florida’s performance, click here to read the 2024 South Florida Mid-Year Report.