REAL ESTATE MARKET REPORT
3Q 2015
BROWARD’S MOST PROMINENT NEIGHBORHOODS
ONESOTHEBYSREALT Y.COM
Current Status1 Broward County’s single-family transaction data demonstrates robust activity within all segments, up 9% in total transaction activity year over year. The waterfront condo market transaction activity declined 15%, but pricing remained stable. Non-waterfront homes showed strong price gains (5%–8%) while waterfront prices declined slightly (1%–3%) overall. With only an $80–$100/SF price difference between waterfront and non-waterfront, and a $200/SF difference between condo waterfront and single-family waterfront, we expect stronger appreciation in single-family waterfront into 2016.
Number of Transactions
Average Living Area (SF)
1,161
2,628
g 9%
g 4%
from 1,063 transactions during 3Q 2014
from 2,529 square feet during 3Q 2014
Average Sales Price
Average Price per Square Foot
$600K
$228
g 6%
g 2%
from $566K during 3Q 2014
from $224 during 3Q 2014
1. Numbers include only the county’s most prominent neighborhoods. For a full list, visit onesothebysrealty.com/trends (p. 4).
The Single-Family Home Market 1 Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
396
$801,770
3,054
$263
% Change (3Q 2014) »
g 10% (361)
0% ($799,575)
g 2% (3,000)
h 1% ($267)
Non-Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
719
$464,100
2,436
$191
% Change (3Q 2014) »
g 10% (656)
g 14% ($408,359)
g 6% (2,309)
g 8% ($177)
Spotlight: The Luxury Market* * The top 50% of Broward’s most prominent neighborhoods, by average price.
Luxury Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
198
$1,221,493
3,872
$315
% Change (3Q 2014) »
g 11% (178)
h 4% ($1,266,746)
0% (3,877)
h 3% ($327)
Luxury Non-Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
359
$647,849
3,045
$213
% Change (3Q 2014) »
g 10% (326)
g 12% ($577,532)
g 7% (2,846)
g 5% ($203)
1. Numbers include only the county’s most prominent neighborhoods. For a full list, visit onesothebysrealty.com/trends (p. 4).
715 Bayshore Drive, #401 | Fort Lauderdale, FL
The Condo Market 2 Waterfront Condos
3Q 2015 Âť
% Sample Traded
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
1.5%
$981,342
1,961
$501
h 2% ($999,639)
h 3% (2,023)
g 1% ($494)
% Change (3Q 2014) Âť
Exclusive Developments: Pre-Construction For details, please visit onesothebysrealty.com/exclusive-developments.
Gale Residences
Riva
Metropica
Fort Lauderdale
Fort Lauderdale
Sunrise
129 Residences 12 Stories
100 Residences 15 Stories
263 Residences 65-Acre Development
1+Den- to 3-Bedroom Units + Townhomes
2- to 3-Bedroom Units + Penthouses
1- to 3-Bedroom Units + Penthouses
Architect Garcia Stromberg
Architect FSMY Architects
Architect Oppenheim Architecture
Developer Newgard Dev. Group
Developer Premier Developers
Developer Trillist Companies & KGH Intl.
From $475,000 *
From $685,000 *
From the $300,000s*
2900 Riomar Street Fort Lauderdale, FL
1180 N. Federal Highway Fort Lauderdale, FL
1800 NW 136 Avenue Sunrise, FL
*
Pricing subject to change without notice.
2. Condo sections do not contain a Luxury Spotlight, since the product sample is already representative of the high-end market. For details on methodology, please see our 2015 report at onesothebysrealty.com/trends (p. 5).
View our 2015 TRENDS Real Estate Market Report: onesothebysrealty.com/trends
©MMXV ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated. Statistics provided by Integra Realty Resources – Miami\Palm Beach. The information contained herein is deemed accurate but not guaranteed.
For details on methodology, please see our 2015 report at onesothebysrealty.com/trends (p. 5).