In an continuous effort to highlight market trends, we have been charting the data releases in the South Florida residential real estate market.  Today we will look at a few charts that include the March data for the condo/townhouse segment in the Greater Fort Lauderdale area.

Here is a breakdown of the chart above:

• The median sale price of a traditional sale dipped to $130,000 in March from $137,950 in February
• The median sale price of a foreclosure sale climbed to $94,300 in March from $77,250 in February
• The median short sale price climbed to $106,500 in March from $98,500 in February

Next, let’s take a look at the pace of new foreclosure filings in the condo/townhouse market.

In March, there were 488 new foreclosure actions filed in the condo/townhouse market in Broward County.  So far, the total through three months in 2014 is 1,626 new filings which brings the monthly average to 542.

As for shadow inventory of condo/townhouse properties in some stage of foreclosure throughout Broward County, the last count as of 4/14/2014 was 14,438 units.  Feel free to click on the chart to see how each city measures-up.

How about the pace of new foreclosure filings compared to the distressed sales?  Luckily the pace of new filings came back from the stratosphere last month, because the only way South Florida will have a sustainable recovery is to have fewer foreclosure filings and more distressed sales to clear the shadow inventory of foreclosures that has refused to go away.