FL: Ft. Lauderdale Home Prices Increased 5% in 4th Quarter of 2011

Fort Lauderdale Real EstateAccording to the Broward Council of the Miami Association of Realtors, sales of Broward County homes – including existing single-family homes and condominiums – increased six percent, from 6,225 to 6,572, in the fourth quarter of 2011 compared to a year earlier.

Broward sales of existing single-family homes increased 15 percent in the fourth quarter of 2011 compared to a year earlier. The sales of existing condominiums dropped a negligible one percent compared to the fourth quarter of 2010. Statewide sales of single-family homes increased seven percent while sales of condominiums increased four percent.

“The Broward County real estate market had a very strong year in 2011, as heightened demand caused housing inventory to decline sharply,” said Rick Burch, 2012 president of the Broward County Board of Governors of the Miami Association of Realtors. “Now, as expected, limited housing supply is resulting in notable price appreciation, which is currently rare in most markets throughout the U.S.”

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