Fort Lauderdale Real Estate - Ft. Lauderdale, like most of Florida is a thriving market, with prices on the rise.  The attractive job markets and attractiveness of Florida make it a hotspot for new residents.  It’s estimated that 1000 people move to Florida each day.  This can only serve to increase the need for new housing, as well as making resale prices on homes jump.  The US Census speculates that Florida population will be the third highest in the country by 2011.

More and more businesses are relocating to Florida, and less are leaving.  Reasons include no income taxes, no inheritance tax and the weather. 

Ft. Lauderdale has always been a favorite hotspot for tourists, making it a booming market for retail, as well as increasing jobs.   

Employment in Broward County dropped to 3.6 percent, with 59,000 new jobs.  Florida leads the nation in new jobs, with South Florida creating many of them. 

Known as the “Venice of America”, the area is surrounded by beaches and water, a favorite for those relocating to Florida.   

According to a recent Sun-Sentinel article, the real estate market in Ft. Lauderdale is going to skyrocket.  Ft. Lauderdale ranks 18^th in the country for new home construction.  By mid-year 2006, there is an anticipated growth of 16.3 percent in pricing.  Over the last five years, growth is up over 100 percent. 

The median price for a single family home in 2004 was $301,900, a gain of 28 percent since 2003. By January of 2005, it topped $400,000.  Like most of Florida, the real estate market isn’t anticipated to fall within the foreseeable future, despite the hurricane season of 2005. 

Similar to other Florida areas, the market is great for the seller right now.  It’s only more difficult for the buyer because of a lack of available property.   

New development continues in the area, with the proposed Donald Trump condominium, as just one pending project.  A proposal is also in the works for a 48 story condo in Ft. Lauderdale.  In December, approval was passed for a 42 story condo.  As in other Florida markets, sales are often made before construction is even underway.  Pre-sales are harder to find, as they are snapped up quickly.  Re-sales are also going quickly.   

One economist David Lereah, predicts that thanks to the baby boomers, South Florida can expect growth for the next 30 years.  He doesn’t foresee setbacks that will prevail in other parts of the country.  Fiserv Case Shiller Weiss consider the Miami/Ft. Lauderdale markets as the top ten in the nation, and their record of predictions is impressive, with only a 2 percent variance on their predicted statistics.  Ft. Lauderdale is expected to see gains of 19.90 percent through the first quarter of 2006. 

Properties on the market in Ft. Lauderdale are lasting less than 30 days.  Investors are snapping properties up, as they can expect returns on investment of up to 100 percent, obviously more attractive than bank savings rates.  With gains per year at over 20 percent, the property here is becoming more attractive, to both traditional homebuyers and investors.  Whether looking for single-family houses or condos, the market is currently excellent.  But the time to buy or sell is now, with limited availability, especially in the condo market. 

For sun, sand, and water, you can’t beat the Ft. Lauderdale area.  The time is now to buy, however, as there is more demand than supply, which makes it a sellers market.  On the other hand, buyers that do find their property now, can expect their investment to appreciate.  

Patricia Fuller

Fort Lauderdale Real Estate | Miami Real Estate | Tampa Real Estate