After a tough 2009, the luxury home market is on the upswing. Sales of homes with asking prices of $2 million to $5 million in the first quarter totaled 2,461, up 32 percent from the previous year.
The increased sales appear to be driven by realistic seller pricing, increased buyer confidence, and improved financing options. But even though the market appears to be improving, experts still have concerns. They say sales of high-end homes are affected by the movement of the stock market, and “if the markets don’t recover soon, it will scare people” and hurt demand for high-end homes, says Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley. Source: The Wall Street Journal, Juliet Chung and James R. Hagerty (05/28/2010)
We all know that it is very difficult to precisely time the bottom of a market. As one of the leading real estate offices and agents in Fort Lauderdale, we endeavor to keep our clients and prospective clients updated with trend changes. For anyone buying or selling a home in the Fort Lauderdale area I would encourage you to consult a professional real estate agent to keep you updated with the most recent and accurate Fort Lauderdale home sale information. This is certainly the time to purchase a new home in Fort Lauderdale, if we are not at the very bottom we are close. Interest rates are at all-time lows and prices of both homes and condos are at the lowest level they have been in almost 10 years. Check out our Fort Lauderdale MLS listing website to find your dream home in sunny South Florida, PLEASE CLICK HERE. Here you will find a detailed computer generated search all currently listed Fort Lauderdale homes for sale and the areas most comprehensive and user-friendly SOUTH FLORIDA QUICK LINK HOME SEARCH CURRENT LISTINGS and CONDO DIRECTORY. You’ll also find a complete, updated daily computer generated list of all foreclosure, short sales and REO homes listed for sale, PLEASE CLICK HERE. Feel free to contact Eileen Kedersha, ReMax a professional real estate agent ready to help you find or sell a home or condo in the Fort Lauderdale area.