Ft. Lauderdale

In Ft. Lauderdale, it was a tale of two markets, where condos and single-family homes split the storylines. On the side of condos, median sales prices climbed 12.5 percent year-over-year despite price per square foot falling 9.4 percent, which lends further momentum to a trend we’ve been seeing in relatively high priced homes all year: building bigger. Listing inventory is up 17 percent leading to a further 21.2 percent increase in the area’s absorption period – now up to 8 months.

For single-family homes, 2014’s fourth quarter was more a period of leveling out. Median sales prices dropped 2.4 percent from the same time last year to $271,250, while listing inventory jumped 27.7 percent; a clear shift away from a seller’s market, which is a good sign for a market bordering on overvalued (depending on who you ask). Demand still kept single-family properties a relevant selling point, though, as indicated by the 17.8 percent year-over-year drop to the average days on market, which fell from 101 days to 83.