The Real Deal Miami

Condominium inventory down to 90 days in Fort Lauderdale rental market

August 15, 2011 10:53AM

The downtown Fort Lauderdale and beach condominium market has less than 90 days of inventory remaining, according to a report from Condo Vultures Realty. As of last Sunday, there were less than 200 condo units available for lease in the submarket, according to analysis of Florida Realtors data. In the first six months of this year, renters leased approximately 69 condos per month. The drop in inventory led landlords to up asking rents this year by 3 percent to a median price of $1.33 per square foot, from $1.29 per month last year. — Alexander Britell