Fort Lauderdale Condo Market: Why It's a Buyers Market
Fort Lauderdale Real Estate Market Update – July 2025 (Condos & Townhomes)
Fort Lauderdale Condo Market: Why It's a Buyers Market
You've been hearing about a shift in the real estate market, but what does that look like in Fort Lauderdale? Today, I’m giving you a complete breakdown of the Fort Lauderdale condo and townhome real estate market trends. I'll reveal the surprising statistic that every buyer needs to know before making an offer and the critical reason why inventory is starting to drop. This is information you won't find anywhere else.
If you're a buyer wondering if this is the right time to negotiate or a seller trying to understand how to get your property sold, you're in the right place. We'll be breaking down key metrics like the number of sales, days on market, and what’s really happening with inventory levels. Stick around because I'll be sharing a market trend that the mainstream media is completely missing, and you need to know about it.
Median Sold Price of condo and townhomes in Fort Lauderdale:
$525,000 sitting right around the middle of this chart. If you’ve been watching me for a while you know I am going to tell you, everyone talks about median price, but I don’t put much focus on it if we’re just talking about Fort Lauderdale. The sample size is too small to take a whole lot from mixed with the fact that we have a wide range of sale prices. There are much more meaningful statistics to look at that will tell you more about the market than median price in my opinion.
Total number of condo’s and townhouses sold in Fort Lauderdale:
There were 112 condos and townhomes that traded hands. This is down year over year from 156 sales. While I don’t pay much attention to median pricing, I do pay a lot of attention to the number of sales taking place, as not a whole lot matters more than how many buyers are stepping forward. We’re on the low side of this chart and I don’t see many reasons it will bounce. A couple of notes here. Some markets are tighter than others. Townhomes on the barrier island, direct ocean views in the best lines of buildings, there are property types that are going to hold value better than others. This is now especially true with newer versus older buildings and the related assessments and building condition reports.
List to sales price:
For those of you knew to this analysis, list to sales price is the percentage of original listing price properties are selling for. A higher number favors sellers, a lower number favors Buyers as it shows more room for negotiation and price reductions are happening. We’re sitting towards the bottom of this chart right? Buyers have a pretty wide margin to negotiate on right now as things are selling for less than 94% of original list price. I’ve said before, I think the other thing at play is sellers coming to market at a price too high and then having to adjust down after a protracted number of days on market. Have we seen something like this before or is the sky completely falling. Look left, pre covid this was the spread we were working with. A difficult market for Sellers to be sure, but not a completely new one.
If you’re looking to purchase a home in Fort Lauderdale, please do one of the following. Give me a call (786)443-7203 and tell me where you are in your home search and what you’re looking for. Or if you’re too shy to call, you can text or email me. Don’t hide behind the computer, contact me!
Days on market for condos and townhomes in Fort Lauderdale:
The days of market are going to be the number of days a home is actively listed before going to pending sale. This is not how long it takes to close, just to go from active to pending. Year over year we’re up from 59 days to 112 days, a significant increase. A matter of perspective for a moment, look back pre pandemic, here we are back at those same levels right? Again, not a very good market for Sellers, but one we’ve been in before. Sellers keep in mind we’re averaging 112 days, you have to add 30 to 45 days on top of that for closing. We’re getting close to 6 months from the time you list a condo or townhome to the time it closes and you get money in your bank account.
Median price per square foot of Fort Lauderdale Townhome and Condo Sales:
Median price per square foot of Fort Lauderdale condo and Townhome sales had been relatively stable. We’re down from $420 to $375 year over year. Not a really meaningful decline. I don’t want to spend too long on this. I’ve banged the table plenty of times saying the following….. The stuff in good condition and that’s the most desirable is what’s selling, that’s why we’re still sitting on the high side of the chart. Let’s move on along here.
Total dollar volume of Fort Lauderdale Home Sales:
I want to illustrate the point here as to why I say ignore some stats. So again we saw 112 sales for $80,575,000 in volume. Let’s just take the top 12 sales out of those 112 sales. Those 12 sales accounted for $22,750,000. So 11% of sales accounted for 28% of the volume. This gets even more pronounced on single family sales and in my opinion when looking at just Fort Lauderdale renders this stat less meaningful as a few more or less high end sales a month can skew the whole chart.
Again if you’re thinking about selling a home in a week or a year from now, please give me a call. I can’t help you out if I don’t know you exist. My phone number is (786)443-7203. Now I do call a lot of property owners so there’s a chance I’ll find you, but it’s a lot easier if you find me first!
Months of inventory
Give me one stat in a marketplace that I can look at to know how healthy the market is, and I’m going to want to see months of supply. More supply is going to favor buyers as they have more choices in the market, less supply will favor sellers as they have less competition. Look at this what do we have here, the line turning down? Very interesting right. First the stats. So year over year inventory is up just shy of 13%. We’re sitting at 11.81 months of supply which is enormous. That means if sales stayed level it would take us just shy of 1 year to sell every property on the market right now. 6 months of inventory is generally considered to be market neutral and favor neither buyers nor sellers. Right now we’re clearly in a Buyers market for condos and townhomes no matter how you slice it. This is an incredibly challenging market for Sellers and anything that attempts to sugar coat that is either an uninformed opinion or one that’s just full of nonsense.
Now, let’s talk about this line heading down. How’s that possible? Oh I can tell you how. A lot of would be Sellers came to market wanting to sell, but not NEEDING to sell, big difference, enormous difference from the mortgage crisis circa 2008. A lot of sellers that had their condos and townhomes listed for sale saw that listing expire. Many of them are just simply deciding they’ll wait the market out. That’s causing the supply to come down as listings either expire or cancel and don’t come back to market. Otherwise known as, I’m picking my ball up and going home because I don’t want to play right now. That my friends, is the story the media hasn’t picked up on, but I’m guessing you’ll start to hear about it in the next 90 days or so. As always, my listeners will be early to the party!
The easiest way to find me is just to call me. My cell number is 786-443-7203. Don’t be shy. Don’t just lurk on my videos, give me a call, let’s chat. I sincerely appreciate each and every one of you that watches these videos. So come on, let’s talk, or have a coffee or a cocktail.
