Fort Lauderdale Real Estate — 3 Months Of Condo Inventory Left On The Market

22 September 2011

As of figures derived last month, there have been recorded to be less than 200 condo properties available for lease within Fort Lauderdale city in Florida’s Broward County region which seems to be quite a good thing for the popular tourist attraction which is flocked by millions of people annually.

The figures that have been collected indicate that Fort Lauderdale rental options have been going at a very good pace which is estimated to last for less than 90 days based on assessments made by local experts.

During the early part of the year, renters within the city have been able to lease condo properties with an average figure of 69 condos per month. Now that the city only has a remaining number of rental condo properties left on the real estate market, landlords have been able to bring their prices up by around 3 percent which brings the median price in the area to $1.33 for every square foot.

The median rental price for condo properties within Fort Lauderdale last year were at $1.29 per square foot per month. The year before that, the median rental price for the Fort Lauderdale condo properties for rent was known to be $1.30 per square foot per month. Now, what does this say about the condo rental properties in the city? It says that the area has been able to maintain stable rental prices over the past few years and, with the improvements taking place across the region, things are finally picking up.

Even though the rental rate have been going up gradually, these rental rates are still a lot lower than those recorded before the market crash had really taken over the region.

Essentially, the increase in rental rates has been set out to stabilize the average figure on the number of condos that were being leased each month and that move has most certainly proven to be effective for the Fort Lauderdale real estate
Almost 20 condo units that contain three bedrooms are available for rent on the local real estate market with an asking price of $1.86 for every square foot while less than 5 studio-type condo units are going on the Fort Lauderdale real estate market for an asking price of $1.85 for every square foot each month.

Joan Vonnegut
Fort Lauderdale Real Estate