2015 Market Update for Broward County
The whole team at Gibson Group would like to thank those loyal clients and friends who have stayed with us throughout the year and extend a friendly welcome to newcomers as we enter 2015. We look forward to offering a helping hand as we guide you through this year’s trends and help you make informed decisions, whether buying or selling in the future.
January kicked off with a steady market, with the scale tipping slightly in the sellers’ favor. Closed sales have increased since last year with single-family homes in Broward County selling in the range of $150,000 to $1,000,000 and those properties are selling for over 9% of the average sale price. While an increase in new listings might mean more competition for your property, a wider variety of homes may attract potential buyers as the market grows.
Buyers should remain optimistic. New listings have increased by over 12.9% since December of last year. Sellers are accepting nearly 2% less than the original listing price compared to last year, making this the perfect opportunity for buyers to close a deal. Families thinking about a change of address should wait no further and try to benefit from reduced prices and a wider range of options to fit their needs.
Though cash deals still top the charts, conventional loans trail even closer behind with a 3.5% rise from the previous year according to 2014 financing statistics. Expanding opportunities for financing make this the perfect time for families seeking out the home of their dreams.
We hope you stay with us as we keep you up to date throughout the year to come. From all of us here at Gibson Group, we wish you a happy and prosperous new year!
Looking for more information about upcoming properties in the Fort Lauderdale, Wilton Manors or Oakland Park area? We can help. We thrive to provide our customers with the best real estate news, services and market update. Call us today at 954-592-4120 for a private and free consultation.