Fort Lauderdale Real Estate Market Update – January 2025 (Condos & Townhomes)

Fort Lauderdale Condo Market Update January 2025 | Fort Lauderdale Townhome

Welcome to the January 2025 Fort Lauderdale Real Estate Market report for condo and townhome sales. 

The median price of condo’s and townhomes in Fort Lauderdale Florida is now $450,000. This is down year over year from $532,000.

My name is Casey Prindle your Fort Lauderdale Realtor. If you’re looking at buying or selling real estate in Fort Lauderdale go ahead call me at (786)443-7203. Don’t be shy and don’t wait!  Whether you’re looking to make a move next week or next year, the sooner we speak the easier it is for me to provide value to you.

Data typically runs 30 days behind the date of this real estate market report.  Stick around to the end of the video as I’ll give you some final thoughts I have on the market.

Median Sold Price of condo and townhomes in Fort Lauderdale:

$450,000 sitting right around the middle of this chart. If you’ve been watching me for a while you know I am going to tell you, everyone talks about median price, but I don’t put much focus on it if we’re just talking about Fort Lauderdale.  The sample size is too small to take a whole lot from.  There are much more meaningful statistics to look at that will tell you more about the market than median price in my opinion.

Total number of condo’s and townhouses sold in Fort Lauderdale:

There were 123 condos and townhomes that traded hands.  This is up year over year from 118 sales. Surprised to see that? I started saying a few months ago there would be haves and have nots from all the fear mongering and condo legislation. Good buildings with solid financials are still selling. Both buyers and sellers should take note of that.

List to sales price:

For those of you knew to this analysis, list to sales price is the percentage of original listing price properties are selling for.  A higher number favors sellers, a lower number favors Buyers as it shows more room for negotiation and price reductions are happening.  We’re sitting towards the bottom of this chart right? Buyers have a pretty wide margin to negotiate on right now as things are selling for 94% of original list price. I’ve said before, I think the other thing at play is sellers coming to market at a price too high and then having to adjust down after a protracted number of days on market.

If you’re looking to purchase a home in Fort Lauderdale, please do one of the following. Give me a call (786)443-7203 and tell me where you are in your home search and what you’re looking for. Or if you’re too shy to call, you can text or email me. Don’t hide behind the computer, contact me!

Days on market for condos and townhomes in Fort Lauderdale:

The days of market are going to be the number of days a home is actively listed before going to pending sale.  This is not how long it takes to close, just to go from active to pending. Year over year we’re up from 45 days to 64 days, though it does look like we could be coming down.  Looks can be deceiving, I’m not sold on this coming down for a prolonged period of time.  The truth is thing are taking longer to sell, that’s just the market.

Median price per square foot of Fort Lauderdale Townhome and Condo Sales:

Median price per square foot of Fort Lauderdale condo and Townhome sales had been relatively stable.  We’re down from $415 to $368 year over year. Not a really meaningful decline. I don’t want to spend too long on this. We’ve exhausted this one over the last few months. The stuff in good condition and that’s the most desirable is what’s selling, that’s why we’re still sitting on the high side of the chart.  Two footnotes.  First new construction slowed way down. The new construction inventory sells for higher price per square foot logically, and all other factors (location) being the same. That’s a down drag. Second note, Selene on Fort Lauderdale Beach will be delivered by year end allowing those who bought pre construction to sell, once that inventory is released this figure is going to jump. Point being, this can be a deceiving stat which is why I usually just glaze over it.

Total dollar volume of Fort Lauderdale Home Sales:

Showing a little bit of life here towards the bottom of the chart.  Year over year volume is down from $93 million to $91 million.

Again if you’re thinking about selling a home in a week or a year from now, please give me a call.  I can’t help you out if I don’t know you exist.  My phone number is (786)443-7203.  Now I do call a lot of property owners so there’s a chance I’ll find you, but it’s a lot easier if you find me first!

Months of inventory

To know me is to know I love watching months of inventory.  Give me one stat in a marketplace that I can look at to know how healthy the market is, and I’m going to want to see months of supply. More supply is going to favor buyers as they have more choices in the market, less supply will favor sellers as they have less competition. At this point supply is a run away freight train. This chart is all you need to see as a Seller to know if you should price aggressively, or list at a high price to “test the market”. That would be a terrible strategy right now in my opinion. If demand remained constant it would take 11.49 months to sell the existing inventory. We were just over 7 months of supply this time last year, a full 4 more months of supply is now on market.  For context 6 months of supply is considered market neutral.  Good to be a buyer in this environment.

Final thought.  These stats are general.  If you come to me looking for a townhome on the barrier island somewhere between Hollywood and Pompano we’re going to have a couple choices and that’s about it.  That market is going to feel really tight. Conversely, if you want to sell a non waterfront condo in Fort Lauderdale priced somewhere between $400 and $600k there are 170 of those listed.  12 sold last month. Point being, use these stats as a guide but when you have a general idea of what you want to buy or sell, call me so we can pull numbers that will be the most pertinent to you.

The easiest way to find me is just to call me.  My cell number is 786-443-7203.  Don’t be shy. Don’t just lurk on my videos, give me a call, let’s chat. I sincerely appreciate each and every one of you that watches these videos.  So come on, let’s talk, or have a coffee or a cocktail.