Victoria Park Townhome Sales Year to Date vs Last Year
While I do feel the single family home market is cooling off a bit, townhouse sales continue to be very popular with buyers, especially in Victoria Park. Townhomes in Victoria Park tend to have a higher quality of craftsmanship, and higher end finishes, when compared to some other areas. That being said, buyers at higher price points should expect to have a premium product. As we're half way through the year, I thought it was time we took a quick look at Victoria Park townhome sales. I found the numbers interesting. All data is taken from closed sales listed on the MLS.
- Number of Sales = 76
- Average Sales Price = $502,000
2014 year to date
- Number of Sales = 25
- Average Sales Price = $523,000
If you read my blog often then you know I've been cheering for a slowing down of price appreciation. The numbers above show a 4.2% gain in average sales prices when we compare last year to this one. A gain of just over 4% is what I would consider rational. I believe this further illustrates the point that buyers aren't overextending and grabbing anything that comes on the market. That's a good thing for the market overall!
If sales were keeping pace with last year then we would have seen 38 sales year to date. The 25 sales shows signs that our market is cooling off. I'm not going to put a ton of weight into the slower sales pace because we really haven't seen the busy time of the year when you expect to see a larger number of sales yet. If we get through September and we're still 34% below the previous years sales pace then it will be cause for alarm.
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Oakland Park, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email firstname.lastname@example.org. I am a Realtor that works on Saturdays in order to accommodate those with busy schedules.
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Written By Casey Prindle