Florida Home sales increase 34% in September, 9.4% nationally

Sales of existing homes in Broward County increased 31 percent in September from a year ago, the Florida Association of Realtors said Friday. The Cabot Homes Group is in tune with the evolving market and the tremendous opportunities present in the greater Fort Lauderdale area.

The Tax Credit has played a large role in this increase, however it is not just that… the cheaper home prices have been drawing buyers back to the market. Broward’s monthly sales have increased on an annual basis since July 2008, which are strong indications that prices have been falling enough to attract buyers. Broward’s median price in September was $200,000, down 23 percent from a year ago and 8 percent from August.

The existing condo markets also remained hot last month, as sales shot up. Broward County’s median price for a condo fell 40 percent from a year ago to $78,300 – the lowest since the Realtors’ group started releasing condo figures in 2006. Now is the best time to take advantage of the lower pricing and rates that only Fort Lauderdale’s premiere realty service group can obtain.

The Cabot Homes Group sees the demand with first-time home buyers and is guiding them first hand. The buyers are flooding the market, trying to get into homes before the tax credit expires Nov. 30. While it’s probably too late to start the buying process now and still qualify for the credit, some buyers who are pre-qualified for loans might be able to complete their sales in time, said real estate agents. Some would-be buyers are counting on Congress to extend the credit and increase it to $15,000, but that’s far from a sure thing.

The tax incentive has helped reduce the number of properties on the market. The numbers of homes and condos for sale in Broward County are down close to 30 percent from a year ago, according to the Keyes Co. Statewide sales increased 34 percent in September, while home sales rose 9.4 percent nationally.

Whether buying, selling or renting property rely on The Cabot Homes Group – the premier Fort Lauderdale real estate group.