September 13, 2007
South Florida Real Estate News
While the real estate market in Florida properties continue to be difficult for sellers, buyers have many options to choose from. The Broward Country which is just north of Miami had good news and also not so good news, according to the South Florida Sun-Sentinel newspaper. In March, a first year-over-year increase since last May, prices of existing homes increased a little. However, the number of homes that sold decreased by 25%, from 804 a year ago to 601 in March 2007. The average price was $372,400.
News is better for condominiums where the average price fell from $202,600 last year to $195,500 this year. Condo units sold rose from 982 to 663. In total, close to 37,000 homes and condominiums were on the market, 16% up over the past year.
The market is an advantage for patient buyers and for those who can find the best deals. This goes for purchasers of both new homes and existing properties. The Sun-Sentinel quoted Brad Hunter, an analyst from West Palm Beach, as saying that builders are slashing prices and offering “mind-boggling deals.” Meaning, there are many choices for a buyer searching for a new home. Check out all the offers from builders and see what they will do for you.
Things are different at North of Broward County in Palm Beach County. The average price is a little lower for existing homes at $236,000, since it is a bit farther away from Miami. Here, the sales fell by 28% from last year. Once more, buyers can find a great deal. Deals are even better for foreign investors since the value of dollar dropped in recent months.
There are many available options for those who are looking for a home in Florida. To know what you want at the best possible price, do research, compare prices and then invest. After all these, you can delight in the long-term benefits of your new home in Florida and enjoy the Sunshine State’s climate.
Posted on: Florida
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