Is Fort Lauderdale, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fort Lauderdale is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Fort Lauderdale was a Seller's Market.

Key Takeaway

Fort Lauderdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Fort Lauderdale, FL

How much do homes in Fort Lauderdale, FL cost?

Median Sold Price

$475,183

$362/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$35,154(+8.0%)

Key Takeaway

Homes in Fort Lauderdale have sold for 8% more than they did a year ago.

Summary: The median home sold price in Fort Lauderdale was $475,183 in May 2024, up 8% from last year, and the median price per square foot was $362.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $250K$261K
+4.4%
2 $395K$410K
+3.8%
3 $460.9K$489.6K
+6.2%
4 $600K$737.5K
+22.9%
5+ $1.3M$1.4M
+7.7%

Summary: Fort Lauderdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 7.7%.

Median Sold Price Compared To Nearby Cities

Lauderhill
+25.9%
Lauderdale Lakes
+13.8%
Fort Lauderdale
+8.0%
Oakland Park
+3.4%
Wilton Manors
-4.1%

Housing Supply in Fort Lauderdale, FL

How many homes are available in Fort Lauderdale, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,2391,351+9.0%

Summary: The Fort Lauderdale real estate market had 1,351 homes for sale in May 2024, a 9.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 161174
+8.1%
2 391424
+8.4%
3 417465
+11.5%
4 192200
+4.2%
5+ 7888
+12.8%

Summary: The Fort Lauderdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 12.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
154139-9.7%

Asking Price vs. Sold Price

105 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fort Lauderdale, you may be able to get a good deal. 75.5% of homes here sold below asking price last month.

Summary: A total of 139 homes were sold or pending in Fort Lauderdale in May 2024, down by 9.7% month-over-month. Of the 139 sold homes, 76% were sold under asking, 19% were sold at asking, and 6% were sold over asking.

Days on Market for Fort Lauderdale, FL

How long does it take to sell a home in Fort Lauderdale, FL?

Average Sale Time

May 2023May 2024CHANGE
48 Days58 Days+19.1%

Summary: Homes in Fort Lauderdale had an average of 58 days on market in May 2024, up by 19.1% compared to last year.

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

61 Homes Were Sold
In 30 - 90 Days

26 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Fort Lauderdale has remained consistent over time.

Summary: During May 2024, 139 homes were sold in Fort Lauderdale; 37% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Fort Lauderdale, FL

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