Good news for the South Florida real estate market. More units sold in 2010 than in the last year of the boom years. Hard to believe, yet true according to data published by Florida Association of Realtors©. Buyers recognized the values and opportunities and took advantage of record low mortgage rates, deep discounts and the federal tax credits that were available during 2010. 75,000 single-family homes, townhouse and condos were sold this year, which averaged 6,250 per month, compared to 67,600 in South Florida in 2006. This is a 10.4 percent increase over 2009 according to the Florida Association of Realtors©. Several recent indications point to an improvement in the South Florida real estate market in 2011. Unit sales are improving in many areas. Buyer activity is showing signs of improvement and our business has been improving on a weekly basis. Home owners are starting to accept the realization of the current market conditions and are now more agreeable to pricing their homes to market. This in itself has helped bring out more buyers and sales. Luxury Fort Lauderdale homes and condos are receiving more buyer interest and pending sales have increased according to the latest RAGFL data.
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This article is brought to you by Eileen Kedersha and William Kedersha, Estate Agents with One Sotheby’s Internationasl Realty, with offices in Fort Lauderdale, Miami Beach, Coral Gables and Key Biscayne, FL.