SoFlo Intel Report GREAT BUYS IN SOUTH FLORIDA’S POPULAR NEIGHBORHOODS | FORT LAUDERDALE EDITION
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Welcome to SoFlo Intel Report. Related ISG’s submarket snapshot of the best buys in South Florida’s best neighborhoods. Each edition, we’ll dive into factors and projects that makes these neighborhoods so popular. This edition we’ll focus on one of South Florida’s hottest condo market, Fort Lauderdale.
Welcome to the neighborhood W Fort Lauderdale Residences welcomes the Four Seasons Opening this Winter Holiday, 2021
CURRENT CYCLE
New Construction Condo Summary Fort Lauderdale, Traditional New Condos East of I-95 Traditional Condos are defined as Condos with no short-term rentals REMAINING DEVELOPER INVENTORY SOLD DEVELOPER UNITS
249
Remaining Developer Inventory
1,075 81% Sold as of Feb 2021
1,324 Total Units
Source: Developer Onsite Sales Offices, Developer Sales Reports and Broker Contacts
Total Sold Units
Fort Lauderdale Beach New Construction Condo Pricing Avg List Price OCEANFRONT NON-OCEANFRONT
$5.5M
$5M
$4.9M
67% Sold
$3.9M
$4.5M
South Tower 95% North Tower Sold Out
$4M
$3.5M
$3.1M
$2.8M
61% Sold
Sold Out
$3M
$2.7M
87% Sold
$2.5M
$2M
$1.4M
$1.1M
60% Sold
$1.5M
Sold Out
$980K
$750K
70% Sold
$1M
Sold Out
$500K
$0
OCEANFRONT
NON OCEANFRONT
Four Seasons Private Residences
Auberge Beach Residences
Paramount Residences Fort Lauderdale
The Ocean Resort Residences at Conrad
W Residences Fort Lauderdale
321 at Water’s Edge
Adagio Fort Lauderdale
The Wave on Bayshore
Developer Inventory
Developer Inventory
MLS Resale
Developer Inventory
Developer Inventory
Developer Inventory
Developer Inventory
Developer Inventory
Gale Hotel & Residences Fort Lauderdale MLS Resale
CURRENT CYCLE
East Fort Lauderdale Future Condo Deliveries Traditional Condos are defined as Condos with no short-term rentals
TOTAL CONDO DELIVERIES
5
4
3
2
1
Four Seasons Private Residences
1
0
2021
* Projected
0
0
0
0
2022
2023
2024
2025*
East Fort Lauderdale Resale MLS Analysis for all Condos built since 2012 % ACTIVE
14.94% 15%
Fort Lauderdale is the #1 selling resale market in Broward County
189
14%
13%
12%
10.51% 133
11%
9.33% 118
10%
9%
8%
Feb 2019
Feb 2020
Feb 2021
Fort Lauderdale Beach and South Beach/Miami Beach 20-Year Historical Condo Pricing Comparison Condos built since 2000 MIAMI BEACH FORT LAUDERDALE BEACH
CURRENT
116.67%
$5M
DIFFERENCE IN PRICE
$3,900,000
$4M
$3M
$2M
DIFFERENCE IN PRICE
$4,200,000
$3,200,000
37.12% DIFFERENCE IN PRICE
$1M
31.25%
$809,000 $590,000
34.96% DIFFERENCE IN PRICE
$1,108,000
$1,800,000
$821,000
$0
2000 Source: Broward County Tax Records
2010
2021
2022* *Projected
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