South Florida ranks in top 20 for real estate searches
By Elaine Walker
Fort Lauderdale and Miami ranked in the top 20 markets in the country for real estate home searches during March, according to data released by Realtor.com
Fort Lauderdale ranked No. 17 and Miami at No. 18 in the country. Chicago was the top searched market and Tampa-St. Petersburg-Clearwater ranked tops in Florida, coming in No. 5 in the country.
Median list prices for homes in Fort Lauderdale hit $168,000 in March 2012, a 8.39 percent increase from the same month last year and a 1.82 percent increase from February 2012. Median list prices for homes in Miami, FL hit $269,000 in March 2012, a 22.27 percent increase over last March and a 1.51 percent increase from February 2012.
The national median list price in March 2012 was $189,900, a 5.56 percent increase compared to March 2011.
Inventory levels are dropping dramatically in both Miami and Fort Lauderdale. Homes actively for sale in Miami in March 2012 leveled out at 11,914, a 42.34 percent decrease compared to March 2011. Inventory of sale homes in Fort Lauderdale for March 2012 were at 12,434, a 39.66 percent decrease compared to March 2011. National inventory levels have dropped 21.48 percent compared to march 2011.
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