Zip Code 33301 is in the Las Olas /Fort Lauderdale area.
Since one year ago, the number of active listings is up 13.1% while the sold properties are down 6.7%. We are looking at annual figures,
The pended are up 52.4%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are up 30.3% from last year. The price per square foot of a condominium or townhome residence (NOT PENTHOUSES), is approximately $344 per square foot – which is an increase of 19% over last year.
Part of the reason for the increase of inventory: The competition could be all the new construction and incentives that developers are offering. Also, homes remain on the market an average of 125 days — an increase of 28.9% over last year. Homes are selling within 93% of their originally listed price.
The average listed price in zip code 33301 is $813,000 — a 30.3% increase over last year. The average sold price is $576,000.
Important information: Months of Inventory. Currently, the Las Olas area is experiencing 8.6 months of inventory which is indicative of hedging towards a buyer’s market. This is a 21.1% increase from a year ago.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.