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 February 2023

At the same time last year, Fort Lauderdale was a Neutral 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

$466,582

$365/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,471(+4.4%)

Key Takeaway

Homes in Fort Lauderdale have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Fort Lauderdale was $466,582 in February 2024, up 4.4% from last year, and the median price per square foot was $365.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $255K$272.5K
+6.9%
2 $406K$415K
+2.2%
3 $495K$480K
-3.0%
4 $680K$640K
-5.9%
5+ $1.8M$1.2M
-34.8%

Summary: Fort Lauderdale housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 2.2%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 34.8%.

Median Sold Price Compared To Nearby Cities

Lauderdale Lakes
+15.4%
Lauderhill
+14.5%
Oakland Park
+8.5%
Fort Lauderdale
+4.4%
Wilton Manors
-2.2%

Housing Supply in Fort Lauderdale, FL

How many homes are available in Fort Lauderdale, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,1001,277+16.1%

Summary: The Fort Lauderdale real estate market had 1,277 homes for sale in February 2024, a 16.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 146164
+12.3%
2 333400
+20.1%
3 370427
+15.4%
4 164192
+17.1%
5+ 8794
+8.0%

Summary: The Fort Lauderdale housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
92101+9.8%

Asking Price vs. Sold Price

73 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

10 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. 72.3% of homes here sold below asking price last month.

Summary: A total of 101 homes were sold or pending in Fort Lauderdale in February 2024, up by 9.8% month-over-month. Of the 101 sold homes, 72% were sold under asking, 18% were sold at asking, and 10% 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

Feb 2023Feb 2024CHANGE
55 Days66 Days+21.0%

Summary: Homes in Fort Lauderdale had an average of 66 days on market in Feb 2024, up by 21% compared to last year.

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

29 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 February 2024, 101 homes were sold in Fort Lauderdale; 33% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 29% 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 28 Days Ago

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