Real Estate Inventory shrinking in Fort Lauderdale

Fort Lauderdale Real Estate

According to statistics complied by our local MLS, inventory continues to decline in the Fort Lauderdale real estate market.  New single family listings are down 23% as of November 2012 compared to the same time last year. In the condo-townhouse market in Fort Lauderdale, new listings are down 25% compared with the same time last year.

The lack of inventory in Fort Lauderdale is creating a sellers market....again.....as buyers are experiencing multiple offer situations in certain price ranges.  This could have a negative effect on certain buyer populations such as the first time home buyer.  First time home buyers can feel a sense of frustration, as they see their chance at home ownership slip by due to a multiple offer scenario. 

Ensuring that buyers are pre-qualified and educated about the real estate process including ensuring that offers are submitted expeditously are basic strategies to ascertain that you, the home buyer, have the winning bid.