Do you want to be close to beaches, have a taste of a vibrant nightlife community, vast dining options, but more of a suburban feel with less congestion than bigger cities like Miami? Then Fort Lauderdale is your ideal place to relocate.
Fort Lauderdale residential real estate provides you plenty of options when looking for Fort Lauderdale homes for rent, Fort Lauderdale apartments and/or Fort Lauderdale townhouses. You can find a gated community or a traditional residential neighborhood.
Ft. Lauderdale homes for rent can also be a little cheaper than their big city counterparts such as Brickell, Miami, Miami Beach or Boca Raton.
Ft. Lauderdale homes for sale is on a major rebound and ascension as home values have increased significantly since they last bottomed out in 2011 and the rate of delinquent mortgages dropped 12% from 2014-2015.
The current median home price in Fort Lauderdale is $270,000 and Fort Lauderdale homes for sale have appreciated at a rate of 7.6%, which is 3% higher than the national average. Houses in the region have appreciated 44.9% in the last three years, nearly doubling the national average of 25.8% and have been a major contributor in removing Fort Lauderdale from the post-recession price weakness.
Although the unemployment rate of 6.3% and the end of 2015 signifies a concern when it comes to Fort Lauderdale commercial real estate, the city is trending in the right direction as that number has dropped from the prior year’s number of 7.9%
According to market reports, these are some snapshot numbers reported at the end of 2015:
- Current Median Home Price: $270,000
- 1-Year Appreciation Rate: 7.6%
- 3-Year Appreciation Rate: 44.9%
- Unemployment Rate: 6.3%
- 1-Year Job Growth Rate: 3.0%
- Population: 172,389
- Percent Of Underwater Homes: 19.8%
- Median Household Income: $50,191
With the construction boom of Miami (Brickell), many real estate shoppers are looking towards Ft Lauderdale commercial real estate, which has helped some of the real estate construction “boom” filter over to Fort Lauderdale
Here are some more market statistics as of end of 2015:
This may be the perfect opportunity to get in on Fort Lauderdale real estate as soon as possible. Trends indicate that pricing may be at it’s best point before an anticipated market boom raises prices on both residential and commercial real estate in the city.
If you are a business or family (or single) looking for real estate property in beautiful Fort Lauderdale than it is vital to have the very best South Florida real estate agent by your side. Being able to land you your ideal property at a digestible price point is key for long-term growth and sustainability. Especially considering a boom is expected in the next few years, the time might be the best.
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