With a 27 percent drop in Miami housing prices since 2007 (For the purposes of this report, Miami includes Broward and Palm Beach counties) we are now approaching a reduction in values of almost 40% from the highs in 2005. South Florida has been mired in a housing slump for more than two years with no recovery in Site. The real estate downturn, along with higher fuel prices and a shrinking job market, is taking a toll on consumers and the economy and thus adding to more fuel to the fire.
In today's Ft. Lauderdale Sun-Sentinel this was reaffirmed with a quote from James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut.
"There's such an excess of inventories that we certainly expect to see more price declines. The economy is still weakening and housing still looks pretty weak."
To most Floridians this unfortunately does not come as a surprise as the real estate crash has impacted so many families irrelevant of income, credit or profession. At UpsideDownFlorida we want homeowners to understand you are NOT alone and there are alternatives to simply walking away. We specialize in fixing your mortgage problems and you never pay if we can't help you. To see your city's depreciation in 2007 see below:
| City | # of Homes | Sales Volume | Median | ||||
|---|---|---|---|---|---|---|---|
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|
| 2008 (YTD/projected) | 2007 | +/- | 2008 YTD | 2007 | |
| Atlantis | 1,237 | 17 | 41 | 46 |  -10.9% | $ 275K | 305K |
| Belle Glade | 1,879 | 18 | 55 | 65 | -15.4% | $ 69K | 142K |
| Boca Del Mar | 4,629 | 70 | 163 | 178 | -8.4% | $ 275K | 363K |
| Boca Raton | 36,718 | 563 | 1190 | 1,571 | -24.3% | $ 370K | 420K |
| Boynton Beach | 29,179 | 508 | 940 | 1,600 | -41.2% | $ 161K | 218K |
| Cloud Lake | 43 | 0 | 0 | 2 |
| $ 0 | 220K |
| Coconut Creek | 19,551 | 434 | 800 | 1,328 | -39.8% | $ 130K | 215K |
| Cooper City | 9,680 | 147 | 348 | 401 | -13.2% | $ 300K | 350K |
| Coral Springs | 37,076 | 761 | 1803 | 2,384 | -24.4% | $ 304K | 291K |
| Dania Beach | 8,720 | 143 | 267 | 562 | -52.5% | $ 155K | 225K |
| Davie | 25,984 | 395 | 828 | 1,596 | -48.1% | $ 272K | 259K |
| Deerfield Beach | 32,129 | 784 | 1654 | 1,787 | -7.4% | $ 80K | 179K |
| Delray Beach | 26,847 | 420 | 848 | 1,170 | -27.5% | $ 205K | 250K |
| Fort Lauderdale | 67,066 | 1494 | 3070 | 4,731 | -35.1% | $ 285K | 342K |
| Glen Ridge | 73 | 1 | 0 | 0 |
| $ 105K | 0 |
| Golf | 144 | 2 | 0 | 5 |
| $ 1.3M | 856K |
| Greenacres | 13,694 | 254 | 493 | 669 | -26.3% | $ 140K | 188K |
| Gulf Stream | 453 | 4 | 6 | 22 | -72.7% | $ 1.6M | 1.4M |
| Hallandale Beach | 21,994 | 541 | 1198 | 1,717 | -30.2% | $ 185K | 294K |
| Haverhill | 528 | 12 | 25 | 28 | -10.7% | $ 215K | 240K |
| Highland Beach | 4,033 | 77 | 175 | 187 | -6.4% | $ 432K | 568K |
| Hillsboro Beach | 2,199 | 36 | 87 | 75 |  16.0% | $ 300K | 397K |
| Hollywood | 51,468 | 1068 | 2390 | 3,246 | -26.4% | $ 208K | 260K |
| Hypoluxo | 2,050 | 46 | 95 | 83 | 14.5% | $ 172K | 210K |
| Juno Beach | 2,450 | 46 | 86 | 88 | -2.3% | $ 260K | 400K |
| Jupiter | 23,903 | 492 | 1049 | 1,156 | -9.3% | $ 269K | 320K |
| Jupiter Inlet Colony | 229 | 6 | 9 | 11 | -18.2% | $ 726K | 1.1M |
| Lake Clarke Shores | 1,456 | 21 | 54 | 62 | -12.9% | $ 283K | 294K |
| Lake Park | 2,067 | 40 | 88 | 82 | 7.3% | $ 150K | 199K |
| Lake Worth | 9,788 | 193 | 392 | 456 | -14.0% | $ 136K | 199K |
| Lake Worth Corridor | 2,560 | 49 | 84 | 206 | -59.2% | $ 307K | 220K |
| Lantana | 3,663 | 70 | 144 | 142 | 1.4% | $ 172K | 207K |
| Lauderdale Lakes | 11,755 | 215 | 390 | 580 | -32.8% | $ 69K | 110K |
| Lauderdale-by-the-sea | 5,657 | 116 | 259 | 251 | 3.2% | $ 384K | 400K |
| Lauderhill | 23,069 | 393 | 820 | 1,380 | -40.6% | $ 105K | 135K |
| Lazy Lake | 16 | 1 | 0 | 1 |
| $ 800K | 949K |
| Lighthouse Point | 5,174 | 93 | 189 | 251 | -24.7% | $ 528K | 415K |
| Loxahatchee Groves | 774 | 6 | 11 | 37 | -70.3% | $ 200K | 349K |
| Manalapan | 191 | 11 | 22 | 10 | 120.0% | $ 2.0M | 3.8M |
| Mangonia Park | 443 | 4 | 8 | 26 | -69.2% | $ 111K | 80K |
| Margate | 21,487 | 419 | 898 | 1,164 | -22.9% | $ 152K | 190K |
| Miramar | 35,440 | 760 | 1557 | 2,507 | -37.9% | $ 260K | 300K |
| North Lauderdale | 10,526 | 204 | 406 | 767 | -47.1% | $ 137K | 220K |
| North Palm Beach | 6,585 | 106 | 249 | 226 | 10.2% | $ 240K | 275K |
| Oakland Park | 14,649 | 317 | 686 | 1,039 | -34.0% | $ 142K | 177K |
| Ocean Ridge | 1,025 | 15 | 29 | 29 | flat | $ 650K | 850K |
| Pahokee | 994 | 9 | 19 | 33 | -42.4% | $ 75K | 72K |
| Palm Beach | 7,624 | 146 | 324 | 387 | -16.3% | $ 1.1M | 1.2M |
| Palm Beach Gardens | 22,483 | 460 | 1056 | 1,233 | -14.4% | $ 290K | 320K |
| Palm Beach Shores | 734 | 8 | 13 | 35 | -62.9% | $ 350K | 450K |
| Palm Springs | 5,833 | 69 | 122 | 277 | -56.0% | $ 79K | 142K |
| Parkland | 6,976 | 190 | 432 | 705 | -38.7% | $ 640K | 729K |
| Pembroke Park | 1,353 | 47 | 67 | 149 | -55.0% | $ 55K | 60K |
| Pembroke Pines | 54,370 | 1018 | 2098 | 3,189 | -34.2% | $ 240K | 270K |
| Plantation | 29,229 | 447 | 1016 | 1,396 | -27.2% | $ 215K | 250K |
| Pompano Beach | 42,690 | 872 | 1969 | 2,484 | -20.7% | $ 165K | 211K |
| Riviera Beach | 11,657 | 238 | 437 | 699 | -37.5% | $ 207K | 250K |
| Royal Palm Beach | 12,223 | 313 | 638 | 622 | 2.6% | $ 220K | 264K |
| Sandalfoot Cove | 4,564 | 67 | 156 | 210 | -25.7% | $ 195K | 266K |
| Sea Ranch Lakes | 206 | 2 | 16 | 8 | 100.0% | $ 1.2M | 1.4M |
| South Bay | 550 | 5 | 14 | 20 | -30.0% | $ 115K | 119K |
| South Palm Beach | 1,617 | 23 | 40 | 48 | -16.7% | $ 295K | 269K |
| Southwest Ranches | 2,151 | 30 | 63 | 82 | -23.2% | $ 500K | 892K |
| Sunrise | 33,119 | 666 | 1450 | 2,206 | -34.3% | $ 139K | 208K |
| Tamarac | 30,138 | 610 | 1236 | 2,009 | -38.5% | $ 154K | 194K |
| Tequesta | 3,100 | 50 | 122 | 120 | 1.7% | $ 235K | 274K |
| Uninc. Broward | 3,173 | 89 | 176 | 196 | -10.2% | $ 144K | 216K |
| Uninc. Palm Beach (East) | 78,353 | 1336 | 2779 | 4,026 | -31.0% | $ 130K | 219K |
| Uninc. Palm Beach (North) | 7,347 | 151 | 315 | 322 | -2.2% | $ 246K | 324K |
| Uninc. Palm Beach (Northeast) | 19,811 | 322 | 640 | 835 | -23.4% | $ 265K | 345K |
| Uninc. Palm Beach (Southeast) | 11,411 | 184 | 341 | 599 | -43.1% | $ 304K | 415K |
| Uninc. Palm Beach (West) | 159 | 2 | 10 | 5 | 100.0% | $ 78K | 70K |
| Wellington | 18,756 | 398 | 833 | 1,165 | -28.5% | $ 324K | 380K |
| West Boca | 44,335 | 726 | 1684 | 1,821 | -7.5% | $ 191K | 255K |
| West Boynton | 26,039 | 432 | 849 | 1,138 | -25.4% | $ 235K | 305K |
| West Delray | 31,235 | 592 | 1291 | 1,309 | -1.4% | $ 100K | 172K |
| West Palm Beach | 35,703 | 716 | 1372 | 2,457 | -44.2% | $ 221K | 254K |
| West Park | 4,090 | 75 | 161 | 292 | -44.9% | $ 160K | 215K |
| Weston | 22,429 | 423 | 1276 | 1,629 | -21.7% | $ 381K | 401K |
| Wilton Manors | 4,648 | 131 | 262 | 505 | -48.1% | $ 219K | 374K |
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