The Fort Lauderdale Real Estate Market Is Currently More Stable Than Its Neighboring Markets
Fort Lauderdale is a city that has an intricate canal system which is quite similar to that of Venice in Italy which is why it has often been referred to as the Venice of America. Due to its fascinating allure, it has become a popular tourist attraction as well as a city that is often considered by property buyers and investors from across the globe.
There have been reports which prove that the Fort Lauderdale real estate market has been doing very well in recent times. In fact, statistics show that it is more stable than any other real estate market found within neighboring counties in South Florida.
Having been able to provide an estimated 5,100 condominium properties within the past eight or so years, the Fort Lauderdale real estate market now has less than 2 percent left on the property market which indicates that a positive absorption rate has been evident within the city, especially within the Downtown Fort Lauderdale area.
Many attribute these recent market trends to the anti-development movement which the city had taken on during the previous real estate boom which has led to what we now see on the property market.
If the city had not opposed the numerous real estate project development that were proposed during the real estate boom then these good numbers would probably not have been achieved and the Fort Lauderdale real estate market might have ended up like any other real estate market within South Florida where over-development had become an issue which had caused the overall market to suffer in the long run.
Such strict city regulations had come as a disappointment to many of the real estate developers who had initially set their sights on Fort Lauderdale but many stand by their belief that the city did a good job by turning down those projects because such actions had provided the city with a much better outcome as opposed to other areas which are still dealing with their excessive supply.
Today’s high demand for properties within the Broward County in Florida has been a major force in the balanced conditions which are now being observed on the Fort Lauderdale real estate market which continues to experience a decline in the number of properties found on the housing inventory. Furthermore, there have been signs that have shown price stabilization which reinforces the fact that the Fort Lauderdale real estate market is indeed very healthy at the moment.
Property buyers and investors will be doing the right thing by taking the time to find out about available homes and condominiums on the Fort Lauderdale real estate market and that is something which many will agree to not just because of the current market situation but because of the fact that the city has proven how much better it is compared to other options within the region.
Fort Lauderdale Real Estate