The Best of Times for Fort Lauderdale Home Sellers

It is the best of times – for Fort Lauderdale home sellers. It is the worst of times – for most of the 36,000 real estate agents in The Beaches MLS System encompassing Broward and Palm Beach counties. The local real estate market is so hot with qualified buyers that the inventory of homes, duplexes or condominiums available for sale is at historic lows.

A mere 30 days of inventory on the market means if no additional homes were listed in the Fort Lauderdale market – from Fort Lauderdale to Pompano Beach, Deerfield Beach, Galt Ocean Mile and across Broward County – we’d run out of homes for sale in 30 days.

In a recent edition of Tuesdays With Gary, we discussed the importance of inventory levels of homes for sale – and what that means to home buyers and sellers.

So, what would be the fallout if available homes dwindled to near zero? Buyer activity would come to a sudden halt. The market would struggle, especially as those 36,000 agents competed for new listings.

But this isn’t just about Realtors. Home and condominium buyers, mostly those coming in from New York, New Jersey, Connecticut and other cold-climate, high-tax markets, have infused billions of dollars in new money into the local economy. If that were to stop, real estate, construction, and a host of ancillary, supporting sectors would dry up as well.

Where does that leave home sellers? With demand remaining at historic highs, and inventory at historic lows, if you ever were considering selling your Fort Lauderdale home, duplex or condominium, now’s the time. We may never see prices and demand this high again.

Gary Lanham is team leader for the Gary Lanham Group at Coldwell Banker Real Estate Fort Lauderdale Beach Office. To learn more, visit instagram.com/garylanhamgroup or call 954-695- 6518