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This real estate report compares real estate sales for the City of Oakland Park in the first quarter of 2019 and 2020 to see how our local market has fared in the past year.
This year the first quarter of 2020 ended with 6 less sales than the year before. This is not significant enough to attribute to the COVID-19 national emergency. The second quarter of 2020 will be more telling of the impact of COVID-19 on the real estate market so stay tuned to the report for the second quarter which be published in late July 2020. Sign up for our newsletter to be notified of when the report is published.
There were 10 more single family home sales this year than there was last year. The average price of a single family home went up from $323, 071 to $333, 558, a 3.2% average increase. The median sale price for a single family home went up from $295,000 in 2019 to $320,500 in 2020, an 8% increase over 2019.
There were 16 less condo/villa/townhouse sales this year than there was last year. The average price of a condo/villa/townhouse went up from $147, 586 to $170, 337, a 13.4% average increase from 2019 to 2020. The median sale price for a condo/villa/townhouse went up from $138,500 in 2019 to $140,950 in 2020, a 1.8% increase over 2019.
Below are the statistics from the MLS that were used for this report. Following the statistics is my final analysis of this year’s first quarter.
*1 condo sale was excluded from this date because it had the incorrect sale price, an error of $900,000 which significantly skewed the data.
Oakland Park, a city on the move.
In looking at 2019 to 2020 the market is relatively stable from one year to the next. Property values have gone up steadily but they are not so rampant that we might be worried about a bubble like what happened in the Great Recession. Additionally, there are other factors that point to the fact that that is unlikely. Although that is another discussion altogether.
Even though Oakland Park is one of the smaller cities in Broward County it has an outstanding location. It is close to the beach, close to Fort Lauderdale and close to major roadways. All that and the fact that it still has single family homes that are affordable make it a highly desirable location. This high desirability is evident in the City’s dynamic real estate market.
This fact is reinforced by the Florida Realtors market report which shows that up until December 2019, Oakland Park’s market is vibrant, and sales grew year after year. I tried to access the data for the first quarter of 2020 to include in this report but it is not yet available. I will include it when I publish the second quarter of 2020 real estate report. Sign up for our newsletter to be notified when that report is published.
If you have any questions about this report or anything else real estate related, feel free to contact me at 954-993-4246 or by email at desiree@desireeavila.com.
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Désirée Ávila EDITOR, PUBLISHER, WRITER, PHOTOGRAPHER, REALTOR® Désirée Ávila has called Oakland Park her home for over 35 years. In addition to publishing LivingInOaklandPark.com, Désirée has been featured in print publications, locally and abroad. Désirée was an award winning teacher for 10 years and has a doctoral level education in Educational Technology. She is currently a licensed Florida REALTOR® and is committed to a high-level of professionalism. Désirée consistently professionally develops herself and has earned several different professional designations and certifications in real estate including the GRI, PSA, e-Pro, AHWD, SRS, ABR®, SRES and SFR®. She was also awarded the C2EX, Commitment to Excellence award by the National Association for Realtors (NAR). This award is given to REALTORS® that distinguish themselves for their commitment to excellence in the real estate industry. She is esteemed by her real estate colleagues and has consistently received 5 star reviews from her clients. Her philosophy about real estate is that being a REALTOR® is a way of teaching and helping people, and in the process a real estate transaction may occur, that is to say her foremost priority is and has always been about helping others. She is dedicated to her hometown of Oakland Park and works consistently on building and fostering a strong community. She is passionate about photography and loves to read books about history ; the more detail the better! In addition to English, Désirée is fluent in Portuguese, Spanish, French and Italian.
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