We have compiled some new data for the Broward County / Greater Fort Lauderdale condo / townhouse market.  Let’s take a look at the available inventory last month:

In January 2013, there were 6,407 condo/townhouse units available for sale in the Broward County market.  Our data now includes all MLS listed properties, including those listed by agents in Palm Beach and Miami that sell property in Broward.  You will notice that there was a slight increase from December, when 6,031 units were listed for sale.

As for prices, we continue to see some strengthening with record-low inventories in the residential property market.  The average selling price for condo/townhouse properties in Broward County reached $150,364, up slightly from $145,412 in December.

What most people (especially agents) have been ignoring, is the constant flow of new foreclosure filings in South Florida.  As we wait for the February data, take a look at the past year of filings just in the condo/townhouse market in Broward County Florida:

With all of the litigation from wrongful foreclosures in the rear-view mirror, this pattern of elevated foreclosure filings will persist for quite some time.  We will most likely see another increase in February and pick up steam throughout 2013.

Finally, here is a snapshot of some of the cities in Broward County where the foreclosures are located.  The chart data is of February 12, 2013 and we will update the data as we receive it.

The cities in Broward County with over 1,000 condo/townhouse properties in foreclosure as of last month are:

Fort Lauderdale – 1,045

Pompano – 1,008

Coral Springs – 1,097

Some other cities with an elevated number of condo/townhouse properties in foreclosure as of February 12, 2013 include:

Hollywood – 990

Miramar – 801

Pembroke Pines  – 818

Lauderhill – 952

Tamarac – 870

Remember that these figures don’t include the single-family residences in foreclosure, just the condo/townhouse properties.  We will include the single-family charts and data in another post.