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Oakland Park Real Estate Second Quarter Report 2022
- Desiree Avila
- August 12, 2022
- 10:04 am
The real estate market has been going up and up and up. Just like the ascent portion of a rollercoaster ride it has been exciting for homeowners to see their home values go up, or sell quickly following a fierce bidding war between buyers that continually up the ante. As the real estate roller coaster kept going up, everyone knew that at some point the market would lock into the pre-drop and it would come down. What turns lay ahead, nobody knew, but everybody knew change was coming.
Change did come earlier this year as the Fed attempted to control inflation by raising interest rates. The market began to shift and change became very real.
While it is not readily obvious yet, there are indicators of the shift so make sure you watch my video at the end of this article about the recent shifts and how they are affecting the market.
For now, let’s talk a look at the year over year changes.
Statistics
Second Quarter 2021
- 296 total sales
Single Family Homes and Condo Sales Stats
- 143 single family homes sales
- 153condo/villa/townhouse sales
Second Quarter 2022
- 292 total sales
Single Family Homes and Condo Sales Stats
- 154 single family homes sales
- 137 condo/villa/townhouse sales
Final Analysis of 2nd Quarter of 2021 / 2022
Final Analysis
From 2021 to 2022 sales went down. To be exact there were 4 less total sales in 2022 than there was in 2021, a 1.35% decrease. Despite the slight drop the rise in price held. The average home sale price was 35.8% or $105,589 higher with the median sale price up by 27.8% or $78,400 higher. Looking at the market as a whole, prices rose both in single family home and condo/townhouse sales. The median price of condos went up 21.6%. The average price of condos went up 16.9%. The most significant year over year rise in prices was in single family homes. The average price of single family homes went up 38.5% and the median price went up 40.8%.
All Real Estates Sales in Oakland Park 2nd Quarter Comparison 2021/2022
| ALL SALES | # of Sales | Average Price | Median Price |
|---|---|---|---|
| 2021 | 296 | $294,231 | $281,600 |
| 2022 | 292 | $399,820 | $360,000 |
| Y/Y Difference | – 4 | + $105,589 | + $78,400 |
| Y/Y Percentage Difference | – 1.35% | +35.8% | +27.8% |
Single family homes continued to be the most coveted real estate asset. Prices continued to go up with single family homes going up on average + $152,676! The median value rose almost as much as the average, $145,000. What this means is that in one year, in general, home values went up 38.5% on average and median home values went up 40.8%.
Single Family Home Sales in Oakland Park 2nd Quarter Comparison 2021/2022
| Single Family Home Sales | # of Sales | Average Price | Median Price |
|---|---|---|---|
| 2021 | 143 | $396,685 | $355,000 |
| 2022 | 154 | $549,361 | $500,000 |
| Y/Y Difference | + 11 | + $152,676 | + $145,000 |
| Y/Y Percentage Difference | + 7.7% | + 38.5% | + 40.8% |
Both the average and median price of condo sales was up but nowhere near as much as single family homes. Nevertheless in the grand scheme of things the gains are still pretty impressive with the average price up by 16.9% or $33,527 and the median price up 21.6% or $36,000.
All Condo Sales in Oakland Park 2nd Quarter Comparison 2021/2022
| All Condo Sales | # of Sales | Average Price | Median Price |
|---|---|---|---|
| 2021 | 153 | $198,473 | $167,000 |
| 2022 | 137 | $232,000 | $203,000 |
| Y/Y Difference | + 16 | + $33,527 | + $36,000 |
| Y/Y Percentage Difference | + 10.5% | +16.9% | + 21.6% |
Shift Is Real
Shift is real and the report below illuminates the changes happening and a picture of where things may be headed.
Real Estate Update - January through June 2022
The last two years in real estate have certainly been atypical. The 2022 2nd Quarter Real Estate Report the statistics reveal the year over year changes and show a market that is still high. In my video however, I probe into the 1st semester (6 months) of 2022 and the changes that have happened along with where the market may be going. Watch the video below to find out!
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Desiree Avila
EDITOR, PUBLISHER, WRITER, PHOTOGRAPHER, REALTOR®
Désirée Ávila has called Oakland Park her home for over 33 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 PSA, e-Pro, AHWD, SRS, ABR, 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.
Check out her real estate websites:
DesireeAvila.com
OaklandParkRealEstateAgent.com
Search for New Construction Homes with Désirée : www.IWantToBuyNewConstruction.com
Visit her real estate blog at www.DesireeRealtor.com
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