December Was A Sellers Market With Increased Sale Prices And Fewer New Listings

December Was A Sellers Market With Increased Sale Prices And Fewer New Listings

An increase in both median and average sales prices across the board and a decrease in closed sales and thenumber of new listings are the key takeaways from the December 2016 housing market. This according tostatistics released today by the Greater Fort Lauderdale REALTORS®, the largest professional BrowardCounty-based association of licensed real estate brokers and sales associates.Median sale prices in both townhouses and condos and single family homes rose considerably from this timelast year. Median sale prices for townhouses and condos rose from $131,969 in December 2015 to $149,700in December 2016, an increase of 13.4%. Median sale prices for single family homes rose from $$302,250 inDecember 2015 to $320,000 in December 2016, an increase of 5.9%The average sale prices rose in both categories as well. The average sale price for townhouses and condoswas $189,023 in December 2015 and rose to $192,651 by December 2016. This represents an increase of1.9%. The average sale price for single family homes was $391,934 in December 2015 and rose to $396,787by December 2016. This represents an increase of 1.2%.Closed sales decreased from this time last year for both townhomes and condos and single family homes.Closed sales of townhomes and condos fell by 3.8%, from 1,407 in December 2015 to 1,354 in December2016. Closed sales of single family homes fell by 3.4% from 1,465 in December 2015 to 1,415 in December2016.New listings of townhomes and condos are down from last year. December 2015 saw 1,886 listings, whileDecember 2016 saw 1,743 new listings for a decrease of 7.6%. New listings of single family homes echo thistrend, down from 1,401 in December 2015 to 1,317 in December 2016. This is a decrease of 6%.Based on the decrease in new listings and closed sales and the increase in average and median prices,December 2016 proved to be a fruitful month for sellers. It’s competitive market which is benefitting sellers.


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Phone: 603-264-6920
Dated: January 27th 2017
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