Zip Code 33304 Single Family Home Sales 2013
Zip code 33304 is very complex to analyze because the zip code cuts through so many different neighborhoods. Housing prices swing wildly from the northwest corner of the zip code versus the southeast corner. As with just about any post I will tell you to take this data with a grain of salt. You can use these numbers as a guide, however that's all it should be used as. If you're looking at a specific property, or looking to sell your property, call me so we can walk through proper valuation. Below is a map of zip code 33304.
As you can see zip code 33304 encompasses portions of Middle River Terrace, Victoria Park, Flagler Village, Sunrise Key, Fort Lauderdale Beach, Lake Ridge, Pointsetta Heights, and Coral Ridge. Phew. That's a lot of neighborhoods! That's exactly what makes this zip code so tricky to work. It also illustrates why you need to know the area well when you're attempting to value a property.
Data is provided by the MLS through Trendgraphix and is based on closed sale transactions that appeared on the MLS. This data only covers single family homes sales in zip code 33304 for a period of January 2013 through December 2013. All data is based on the 145 single family home sales that occurred in zip code 33304 during this period. I've made no distinction in this post between waterfront and non waterfront single family home sales.
Let's dig right in! Median single family home prices are significantly below the prices in zip code 33301, as you would expect. Again a single family home selling in the northern section of Victoria Park is going to sell at a much higher price than a home in Middle River. I wouldn't put a ton of weight into this graph, other than to show you the relative value versus other zip codes. If you're looking to be close to Downtown Fort Lauderdale, but not at the steep price tag, zip code 33304 would be my first stop.
The slides for days on market and sale price versus original list price will be relevant. I would put weight into this data. While prices may be lower in the northwest corner of the zip code, homes in lower price brackets tend to sell faster than homes in higher price brackets. This would average out the data so I would rely on these figures in an analysis. What the data tells me is homes in this zip code are going to sit on the market longer than homes closer to the Downtown Fort Lauderdale core area. A number of sales in this zip code are going to be financed, this would be against zip code 33301 where we see a high volume of cash sales in the single family home space. Sellers are settling for around 90% of their asking price. This is a good piece of data for both buyers and sellers to know.
What a sharp rise when we look at months of inventory! For most of the year we were below that market neutral 6 month supply level. However we've seen a spike in inventory towards the end of the year, buyers rejoice! That being said, this is a very popular zip code with buyers. If I was a betting man I would venture to guess we'll see a number of sales in the beginning of the year which will pull inventory levels right back down.
This post was a tough one to write because I couldn't add too much to it in terms of commentary. There's such a rift in home prices around the different sections of zip code 33304 that it makes it tough to take away too much from the data. This is really a zip code that you have to drill down and look at values home by home, rather than aggregate by zip code. So while this data has value as a point of reference, I wouldn't base a housing decision solely on it.
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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, Pointsetta Heights, 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 to accommodate those with busy schedules.
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Written By Casey Prindle