Fort Lauderdale May 2025 real estate statistics have been released.
Fort Lauderdale Area Reports
Single Family Homes
Condominium & Townhouses
Fort Lauderdale Real Estate Market Overview
The Fort Lauderdale real estate market has experienced significant changes in sales activity and pricing trends over the past year. Both single-family homes and condo/townhouse markets show a decline in sales volume, while prices have generally increased.
Summary:
Single Family Homes Sales Activity
Sales of single-family homes in Fort Lauderdale have decreased significantly compared to last year. The median sales price has risen, indicating a shift towards higher-value properties.
Number of sales decreased from 212 in May ’24 to 139 in May ’25, a drop of 34.43%.
New listings fell from 375 in May ’24 to 288 in May ’25, a decrease of 23.2%.
Median sales price increased by 23.95%, from $536,500 to $665,000.
Average sales price rose by 14.83%, from $1,091,613 to $1,253,547.
Average days on market increased from 61 to 72 days, an 18.03% rise.
Condo/Townhouse Market Trends
The condo/townhouse market in Fort Lauderdale has also seen a decline in sales, with a slight increase in median prices. This indicates a competitive market despite fewer transactions.
Number of sales decreased from 187 in May ’24 to 134 in May ’25, a decline of 28.34%.
New listings dropped from 456 in May ’24 to 321 in May ’25, a decrease of 29.61%.
Median sales price increased by 7.42%, from $465,000 to $499,500.
Average sales price decreased by 6.19%, from $679,928 to $637,825.
Average days on market increased from 73 to 99 days, a rise of 35.62%.
Market Summary and Key Statistics
The overall market summary highlights the trends in listings, sales, and pricing for both single-family homes and condos/townhouses. The data reflects a tightening inventory and rising prices.
Total new listings for single-family homes year-to-date: 1,898, down 3.27% from last year.
Total sold listings for single-family homes year-to-date: 794, down 13.98% from last year.
Total new listings for condos/townhouses year-to-date: 2,612, down 9.15% from last year.
Total sold listings for condos/townhouses year-to-date: 789, down 5.32% from last year.
The list/sold price ratio for single-family homes is 95.7%, while for condos/townhouses it is 94.1%.
Commonly asked questions while reviewing the reports:
What is the difference between “Median Sales Price” and “Average Sales Price”?
Median Sales Price | Price of the “”middle”” property sold -an equal number of sales were above and below this price.
Average Sales Price | Average sales price for all properties sold.
What does “Absorption Rate” mean?
Absorption Rate | Looks at the past year’s monthly supply of inventory. In a normal market there should be a 6 month supply. The higher the rate above 6 the more aggressive a seller has to be with the competition; price and having a picture perfect property.
Single Family Home Area Report listed first, Condo/Townhouses listed second:
We are entering a new real estate market in SE Florida. This is the time to work with an experienced and knowledgeable real estate professional. Please contact me if you would like to be sent updated market reports for Fort Lauderdale, or another SE Florida city. We can discuss the market, current trends and how we can work together to accomplish your real estate goals. I am here to help.
Navigating Waterfront Home Purchases in Southeast Florida: A Comprehensive Guide for Boating Enthusiasts
As a seasoned real estate professional specializing in waterfront properties in Southeast Florida, I understand the unique considerations that boating enthusiasts must address when purchasing a home. Beyond the allure of scenic views, it’s essential to ensure that the property meets your specific boating needs. Here’s a list of considerations to help you make an informed decision.
1. Assess Dock Dimensions and Setbacks
Before finalizing a purchase, verify that the property’s dock can accommodate your vessel’s length and beam. Florida regulations often mandate setbacks from neighboring property lines to ensure safety and environmental compliance. It’s crucial to consult local zoning laws to determine specific setback requirements for the area you’re considering. The linear length of the waterfront must be able to accommodate the total length of the vessel plus the setback requirement.
In Broward County, specifically Fort Lauderdale, boat docking setbacks are typically measured from the property line and can vary. Common setbacks are 5 feet or 10 feet from each end of a vessel. The canal width also plays a role, with a 30% rule in place where a docked vessel can’t be more than 30% as wide as the channel.
Setbacks:
Docks are generally setback 5 feet from the property line, but in some cases, 10 feet is required. This setback is calculated from the property line at the bow and stern sides of the vessel.
2. Evaluate Waterway Accessibility
Determine the property’s proximity to open waters, inlets, and the ocean. Consider the presence of fixed bridges along your intended route. Most fixed bridges over the Atlantic Intracoastal Waterway in Florida offer a vertical clearance of 65 feet above mean high water, except for the Julia Tuttle Causeway in Miami, which has a 56-foot clearance. Ensure that your vessel’s height, especially with antennas or towers, can safely pass under these structures at high tide.
3. Check Water Depth and Draft Compatibility
Assess the water depth at the property’s dock during both high and low tides. Ensure that the depth accommodates your boat’s draft to prevent grounding. A minimum depth of 3 feet at mean low water is often required for single-family docks. Consult tide charts and, if possible, conduct a depth survey to confirm suitability. In my experience, it is smart to ask the current property owner if the waterway has been previously dredged. This may indicate a need for dredging in the future.
4. Inspect Seawall Integrity
A sturdy seawall is vital for protecting your property from erosion and storm surges. Regular inspections are recommended, with experts advising annual checks in areas prone to severe weather. Look for signs of wear, such as cracks, rust stains, or soil erosion. Engage a professional to assess the seawall’s condition and determine if repairs or replacements are necessary. Click link for: Broward County Regional Standards for Seawalls & Flood Barriers
The new Miami-Dade County regional seawall ordinance mandates that all new seawalls must be constructed to a minimum elevation of 5.7 feet NAVD, or 4 feet NAVD if designed to support a future elevation of 5.7 NAVD,according to the City of Miami Beach – Rising Above.It also codifies that seawalls must be upgraded if the property undergoes new construction or substantial improvements, and establishes overtopping as a trigger for seawall elevation and maintenance requirements.
5. Verify Shore Power Availability
Ensure the dock is equipped with adequate shore power to meet your vessel’s electrical needs. This includes checking for appropriate voltage, amperage, and the condition of power pedestals. Proper shore power is essential for charging batteries, running onboard systems, and ensuring comfort during docked periods.
6. Confirm Channel Width and Navigability
The waterway leading to your dock should be wide enough to allow safe maneuvering without encroaching on neighboring properties. In Broward County, Florida, a 30% rule limits the width of a docked vessel to 30% of the canal’s width, measured from the recorded property line. Also, in canals or waterways 50 feet or less wide, fixed or floating docks can extend a maximum of 5 feet from the measurement reference line. Boats cannot be moored to or tied to a seawall or other mooring structure without the owner’s permission, except in cases of distress. Ensure that the channel’s width and depth are sufficient for your vessel’s size and handling characteristics.
7. Evaluate Dock Condition and Boat Lift Feasibility
Inspect the existing dock for structural integrity and maintenance. If you plan to install a boat lift, determine whether the current dock can support it or if extensive repairs are needed. Consult with marine contractors to assess feasibility and compliance with local regulations.
Constructing or installing docks, boat lifts, and other structures in waterways requires permits from the city engineer and building official.
8. Understand Wake Zone Regulations
If the property is located on the Intracoastal Waterway, be aware of designated wake zones. These areas require vessels to operate at idle speed to minimize wake, protecting both the shoreline and other vessels. Understanding these regulations is crucial for planning your boating activities. It is very common for waterfront home owners on the ICW to have boatlifts due to the waterway’s fluctuating water levels and potential for damage from weather and tides. A boat lift elevates the vessel above the waterline, protecting it from corrosion, algae buildup, and accidental impacts.
9. KnowFlood Insurance Requirements
When purchasing a waterfront property in Southeast Florida, particularly in Broward and Miami-Dade Counties, it’s crucial to understand the implications of flood insurance:
Mandatory for High-Risk Zones: If your property is located in a Special Flood Hazard Area (SFHA) and you have a mortgage from a federally regulated or insured lender, flood insurance is required.
Recommended for All: Even if your property is outside of designated high-risk zones, flood insurance is strongly recommended. Flooding can occur due to heavy rains, storm surges, or infrastructure failures, and standard homeowners’ insurance policies typically do not cover flood damage.
30-Day Waiting Period: Be aware that there is typically a 30-day waiting period after purchasing flood insurance before the policy becomes effective.
Assessing Flood Risk: Use local resources to determine your property’s flood zone designation. Miami-Dade County provides flood zone maps, and Broward County offers an interactive flood map viewer.
Understanding and securing appropriate flood insurance is essential to protect your investment and ensure peace of mind in your waterfront home.
10. Familiarize Yourself with Local and State Regulations
Waterfront properties are subject to various local and state regulations. The Florida Department of Environmental Protection (FDEP) oversees environmental compliance, including dock construction and maintenance. Ensure that any modifications or additions to the property comply with FDEP guidelines and obtain necessary permits.
To find zoning information for a dock on a canal in Broward County, Florida, you’ll need to check with the county’s planning and zoning department or the specific municipality where the property is located. Determine if your property is in the Broward Management Services District (BMSD) or within a city/town:
If your property is within the BMSD (unincorporated area), you’ll need to contact the Broward County Zoning department directly. You can find their contact information and meeting schedule on their website.
If your property is within a city or town (like Fort Lauderdale,Pompano Beach, etc.), you’ll need to contact the city or town’s zoning department.
Links to Consult Local Resources for Additional Information:
Purchasing a waterfront home in Southeast Florida is a significant investment, especially for boating enthusiasts. By thoroughly evaluating dock specifications, waterway access, and structural integrity, you can ensure that your new home aligns with your maritime lifestyle. Partnering with a knowledgeable real estate professional can provide invaluable insights and guidance throughout this process.
Feel free to reach out if you have any questions or need assistance in finding the perfect waterfront property tailored to your boating needs.
10 Meaningful Ways to Honor Fallen Veterans on Memorial Day 2025
Memorial Day 2025, observed on Monday, May 26, is more than the unofficial start of summer—it’s a sacred day to remember and honor the brave men and women who gave their lives in service to the United States. As we gather with family and friends, it’s important to take time to reflect on the sacrifices made for our freedom.
Whether you’re planning a quiet moment of remembrance or a community event, here are 10 meaningful ways you can honor fallen veterans this Memorial Day.
1. Attend a Local Memorial Day Ceremony
Check your local community calendar for Memorial Day parades, ceremonies, or dedications. These events often feature speeches from veterans, wreath-laying, and moments of silence that foster a sense of collective gratitude.
2. Visit a Veterans’ Cemetery
Take a moment to walk through a nearby veterans’ cemetery. Placing flowers or flags on graves is a respectful way to honor the fallen and reflect on their service. Many national cemeteries welcome volunteers for this purpose during Memorial Day weekend.
3. Pause for the National Moment of Remembrance
At 3:00 p.m. local time on Memorial Day, Americans are encouraged to pause in silence to remember those who died in military service. Set a reminder and take a minute to reflect, no matter where you are.
4. Display the American Flag Properly
Fly the U.S. flag at half-staff until noon, then raise it to full-staff until sunset. This tradition honors those who died while showing resilience and commitment to our country’s future.
5. Support Gold Star Families
Gold Star Families are those who have lost a loved one in military service. Reach out with a kind gesture—a card, flowers, or simply listening. Many organizations also accept donations to help these families year-round.
6. Donate to Veterans’ Organizations
Give back by donating to nonprofits that support veterans and their families. Organizations like the Wounded Warrior Project, TAPS (Tragedy Assistance Program for Survivors), and Fisher House Foundation provide vital services and support.
7. Share Their Stories
Use social media to share stories of fallen soldiers, whether from your own family or community. Use hashtags like #MemorialDay2025, #HonorTheFallen, or #RememberAndHonor to contribute to a collective tribute.
8. Create a Memorial Day Tribute at Home
Decorate your home or front yard with flags, wreaths, or a red, white, and blue display. A chalk mural or handmade sign can serve as a simple but powerful tribute.
9. Watch a Memorial Day Documentary or Movie
Spend the evening watching a film or documentary that honors military service and sacrifice. Options like Saving Private Ryan, The Vietnam War (PBS), or Band of Brothers provide historical context and emotional depth.
10. Educate the Next Generation
Teach your children or younger family members about the true meaning of Memorial Day. Share family stories, read books about military heroes, or visit a museum dedicated to U.S. military history.
Why Honoring Memorial Day Matters
Memorial Day is a poignant reminder that freedom comes at a cost. By actively participating in ways to honor fallen veterans, we show respect, preserve history, and pass on a legacy of gratitude to future generations.
This Memorial Day 2025, let’s each do our part to ensure that the sacrifices of our heroes are never forgotten.
7 Ways Florida Homeowners Can Save Money on Their Tax Returns
As an experienced real estate professional, I’m here to share some insider tips that can help Florida homeowners save money on their tax returns. However, please note that these tips should not be deemed legal or financial advice. Always consult with a tax professional for personalized assistance.
1. Homestead Exemption
One of the biggest tax-saving opportunities for Florida homeowners is the Homestead Exemption. This exemption allows homeowners to deduct a portion of their home’s value from their property taxes, potentially saving hundreds of dollars each year. To qualify, you must use the property as your primary residence and file the necessary paperwork by March 1st.
2. Mortgage Interest Deduction
If you have a mortgage on your home, you may be eligible to deduct the interest paid on your loan from your federal income taxes. This can result in substantial savings, especially in the early years of your mortgage when interest payments are higher. Be sure to keep detailed records of your mortgage interest payments and consult with a tax professional to ensure you maximize this deduction.
3. Property Tax Deduction
Florida homeowners can also deduct property taxes paid on their primary residence from their federal income taxes. This deduction can add up to significant savings, especially for those in high-tax areas. Remember to keep all property tax receipts and documentation to support your deduction.
4. Energy-Efficient Home Improvements
Making energy-efficient upgrades to your home can qualify you for various tax credits and deductions. Federal tax incentives are available for improvements such as installing solar panels, energy-efficient windows, and insulation. These upgrades not only save you money on your taxes but can also lower your energy bills in the long run.
5. Home Office Deduction
If you run a business from your home, you may be eligible for the home office deduction. This deduction allows you to write off a portion of your home expenses, such as mortgage interest, property taxes, utilities, and maintenance, based on the percentage of your home used for business purposes. Ensure you meet the IRS requirements for claiming this deduction and maintain thorough records of your business expenses.
6. Capital Gains Exclusion
When selling your primary residence, you may be eligible to exclude up to $250,000 of capital gains (or $500,000 for married couples) from your taxable income. To qualify, you must have owned and lived in the home for at least two of the five years preceding the sale. This exclusion can result in significant tax savings when it’s time to move.
7. Casualty Loss Deduction
Florida homeowners affected by natural disasters, such as hurricanes, may be able to claim a casualty loss deduction. This deduction allows you to write off losses not covered by insurance, helping to offset the financial impact of property damage. Keep detailed records of the damage and repair costs, and consult with a tax professional to determine your eligibility.
Remember, it’s always best to consult with a tax professional to ensure you’re taking advantage of all available tax-saving opportunities and complying with current tax laws. Happy saving!
As an experienced real estate agent, my commitment goes beyond closing deals—it’s about empowering you with the knowledge and guidance you need to make confident decisions. Staying actively involved in our community and continuously expanding my expertise ensures you get the highest level of service. Thank you for placing your trust in me. I’m here to guide you every step of the way with the dedication, insight, and care you deserve.
All legal Florida residents are eligible for a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots if they qualify. The Florida Constitution provides this tax-saving exemption on the first and third $25,000 of the assessed value of an owner/occupied residence. While a complicated formula is used to explain this — as the additional $25,000 only applies to the non-schools portion of your tax bill in annual tax savings for all homes with a value of $75,000 or higher. Savings depend upon your city’s millage rate
You are entitled to a Homestead Exemption if, as of January 1st, you have made the property your permanent home or the permanent home of a person who is legally or naturally dependent on you. By law, January 1 of each year is the date on which permanent residence is determined.
Broward County:
For additional information on Homestead and Other Exemptions and what you will need to apply for the exemption click the link below:
Filing for your Florida Homestead Exemption is a smart step toward protecting your investment and saving on property taxes. As your local real estate expert, I’m always here to help—whether you have questions about exemptions, buying or selling a home, or anything in between. Don’t hesitate to reach out—I’m just a call or message away and always happy to be a resource for you!
This new flood disclosure requirement starts October 1, 2024. This will help home sellers with transparency in their disclosures and it will allow residential home buyers to have crucial information prior to executing a sales contract. This disclosure must be done at or before the time of a contract being executed.
You can read the article by Maria Marchante below:
New Florida Flood Disclosure Requirements Coming
Florida sellers must disclose flood damage history to buyers before contract signing to provide transparency in real estate transactions.
ORLANDO, Fla. – Starting October 1, 2024, there is a new flood disclosure requirement in Florida. Florida Statute 689.302 requires a seller to complete and provide a flood disclosure to a buyer of residential real property. This disclosure must be done at or before the time of a contract being executed.
Sellers will need to disclose:
Whether they have filed a claim with their insurance provider relating to flood damage on the property.
Whether they have received federal assistance for flood damage to the property.
For purposes of the new disclosure, “flooding” is defined as a general or temporary condition of partial or complete inundation of the property caused by any of the following:
The overflow of inland or tidal waters
The unusual and rapid accumulation of runoff or surface waters from any established water source
Sustained periods of standing water resulting from rainfall. Some examples of an established water source can be a river, a stream, or a drainage ditch.
Currently, Florida courts are split as to whether the tendency to flood is “readily observable.” This matters because if the tendency to flood is readily observable, then there is not a requirement this information be disclosed to a buyer of residential real property. If a buyer is not familiar with an area, they may have no clue the property tends to flood. This can be especially true when the flooding is seasonal.
The Federal Emergency Management Agency (FEMA) has the authority to designate properties as a “severe repetitive loss property.” This means that the home has flooded twice, with damage totaling the value of the property OR which have flooded four times with at least $5,000 of damage each time. There are roughly 45,000 of these properties in the United States, and about 3,100 are in Florida.
FEMA’s policy is to share past flood history with ONLY a property owner who holds an active flood insurance policy. This means that prospective buyers are unable to get this information prior to closing on the home.
Additionally, homeowners’ insurance policies tend to not cover damage resulting from floods. Buyers should always be encouraged to discuss their need to purchase separate flood insurance coverage with their insurance agent.
This new disclosure requirement will allow buyers to have crucial information prior to executing a sales contract.
Maria Marchante is Associate General Counsel
Note: Information deemed accurate on date of publication
Facebook
X
Pinterest
Copy Link
