Fort Lauderdale, FL Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

Are home prices dropping in Fort Lauderdale? ›

Homes in Fort Lauderdale receive 2 offers on average and. The median sale price of a home in Fort Lauderdale was $570K last month, up 3.6% since last year. The median sale price per square foot in Fort Lauderdale is $399, down 7.5% since last year.…

Sale-to-list price ratio: 96.39% Fort Lauderdale, FL is a buyer's market in May 2024, which means that the supply of homes is greater than the demand for homes.

Fort Lauderdale offers a blend of a thriving economy, diverse property options, and an appealing lifestyle. Consistent growth and job opportunities make it a compelling choice for investors eyeing long-term returns.

Fort Lauderdale, Florida's cost of living is 22% higher than the national average.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

The months from March to June are the best time to buy a house in Florida. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

Las Olas Isles is often considered the crown jewel of Fort Lauderdale's luxury real estate. Nestled along a series of picturesque canals just off the famous Las Olas Boulevard, this neighborhood boasts some of the city's most exquisite waterfront properties.

As a general rule, a property with a higher price tag would cost a higher closing amount, but the typical closing costs for buyer in Fort Lauderdale, FL as a percentage of the property price are around 1.98%.

You should not spend more than one-third, or 30%, of your gross income on rent to live comfortably, according to the 30% rule. For example, if your rent is close to the median for a one-bedroom apartment in Fort Lauderdale and costs $1,627, your monthly wages should be at least $5,423.33 per month or $65,080 annually.

Lower Cost of Living

Fort Lauderdale is more affordable than Miami in terms of both property taxes and overall cost of living. Homebuyers get more for their money here, with the average home cost in Fort Lauderdale being $10,000 to $20,000 less than that of Miami.

Is it worth living in Fort Lauderdale? ›

Fort Lauderdale has miles of beautiful beaches, vibrant nightlife, and a thriving arts and culture scene. It's also home to some of the best restaurants and shopping destinations in South Florida. And don't get us started on the weather … With year-round sunshine, you'll never have to shovel that snow again!

Highland Beach

The town is known for its luxury homes and high cost of living. In fact, Highland Beach is often cited as the most expensive place to live in Florida. The average home price in Highland Beach is over $1.1 million, and the cost of living is nearly 45.8% higher than in the rest of the state.

As mentioned, Fort Lauderdale is an excellent location for retirees. One of the reasons why is that there is a large number of activities for retirees. With the great weather comes a large number of senior-friendly activities. Some of the most popular ones are going on bike rides and hiking.

Key Takeaway

The list price of homes in Lower Keys has increased by 24.2% since last year. Summary: The median home list price in Lower Keys was $1,180,000 in May 2024, up 24.2% from the previous year, and the median price per square foot was $857.

Home construction is slowing down in Florida for the second straight year, according to permitting data in a new study. The study, from real estate search company Point2, found that 193,192 permits were issued in the state last year, a 9% decrease from 2022.

The report also reveals that there has been an 85% increase in kids and families living in DowntownFTL since 2018. This shows that downtown Fort Lauderdale is becoming an increasingly desirable place to raise a family.

Fort Lauderdale is arguably one of the best cities in South Florida, boasting every perk you'd expect from a coastal city. But it also has a uniquely wide range of housing options, a microcosm of distinctive neighborhoods to explore, and a varied economy.