Submitted by Anonymous on Tue, 04/24/2007 - 05:00.
Hollywood Florida’s Bad Real Estate Market Has Locals Auctioning Homes
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Some Hollywood homeowners are resorting to auctions to try and sell their properties in the current tough market.
Locally, new stats released from the Real Estate Association of Greater Fort Lauderdale revealed that condominium and home sales were up from February to March of this year. Condo sales were up 10% and single family homes were up 18%.
While the recent numbers were up, condominium and home sales were significantly down over the past year. From March 2006-March 2007, condo sales were down 21% and single family homes were down 18%. Local real estate officials also project a 4% decrease for April 2007.
The inventory of unsold homes has also risen dramatically in the past year. From March 2006-March 2007, single family homes have increased from 8,109 to 11,766--a 45% increase, while condominiums have increased from 10,570 to 16,742.
The Real Estate Association of Greater Miami and the Beaches revealed that condominium and home sales were also up from February to March of this year in Miami-Dade.
Condo sales were up 44% and single family homes were up 52%.
Similar to the Broward stats, condominium and home sales were also significantly down over the past year. From March 2006-March 2007, condo sales were down 45% and single family homes were down 33%.
The inventory of unsold homes also rose dramatically in Miami-Dade in the past year. From March 2006-March 2007, single family homes have increased to 13,464 in 2007, while condominiums have increased to 22,803.
Local real estate officials also say prices in Miami-Dade are projected to increase 3.5% as market stabilizes.
Source: http://cbs4.com/topstories/local_story_114114849.html
Locally, new stats released from the Real Estate Association of Greater Fort Lauderdale revealed that condominium and home sales were up from February to March of this year. Condo sales were up 10% and single family homes were up 18%.
While the recent numbers were up, condominium and home sales were significantly down over the past year. From March 2006-March 2007, condo sales were down 21% and single family homes were down 18%. Local real estate officials also project a 4% decrease for April 2007.
The inventory of unsold homes has also risen dramatically in the past year. From March 2006-March 2007, single family homes have increased from 8,109 to 11,766--a 45% increase, while condominiums have increased from 10,570 to 16,742.
The Real Estate Association of Greater Miami and the Beaches revealed that condominium and home sales were also up from February to March of this year in Miami-Dade.
Condo sales were up 44% and single family homes were up 52%.
Similar to the Broward stats, condominium and home sales were also significantly down over the past year. From March 2006-March 2007, condo sales were down 45% and single family homes were down 33%.
The inventory of unsold homes also rose dramatically in Miami-Dade in the past year. From March 2006-March 2007, single family homes have increased to 13,464 in 2007, while condominiums have increased to 22,803.
Local real estate officials also say prices in Miami-Dade are projected to increase 3.5% as market stabilizes.
Source: http://cbs4.com/topstories/local_story_114114849.html
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