2016 MID-YEAR UPDATE S I N G L E- F A M I LY H O M E S I N B R O WA R D ’ S MOST PROMINENT NEIGHBORHOODS
BROWARD
COUNTYWIDE STATISTICS | SINGLE-FAMILY HOMES
Expansion in Broward continues to be accompanied by rising prices for the
TOTAL MARKET
fifth straight year. With much of the growth happening in the western areas of the county (in neighborhoods such as Weston, Parkland and Sunrise), it may be safe to say that Broward’s vast potential for growth is what is driving this continued increase in pricing. However, eastern Broward is not falling behind. Fort Lauderdale Beach gained
WATERFRONT HOMES
NON-WATERFRONT HOMES
# FOR SALE
# SOLD
AVG. $/SF
# FOR SALE
# SOLD
AVG. $/SF
9,580
1,992
$224
19,997
6,044
$164
a 44% increase in average pricing per square foot for its non-waterfront, single-family homes. Within the luxury segment, Rio Vista stands out with a 160% increase in its waterfront market, which was greatly influenced by a $17M single-family home sale in the neighborhood.
LUXURY MARKET
At 1,992 sales during the first half of 2016, Broward’s single-family home
# FOR SALE
# SOLD
AVG. $/SF
$1M – $5M
4,858
259
$379
$5M – $10M
350
7
$694
$10M+
141
market saw over four times as many waterfront sales as Miami Dade’s single-family home market. At approximately half the price per square foot,
(THE TOP 50% BY AVERAGE HOME PRICE)
Broward’s many canals offer great value when it comes to living directly on the water — a highly attractive factor for potential buyers in search of the
PRICING A LUXURY HOME An increase in $/SF of 45% between $1M – $5M homes and $5M – $10M homes and of 47% between $5M – $10M homes and $10M+ homes proves that, beyond the expected price increase paid for a larger home, each one of said home’s
quintessential South Florida lifestyle.
square feet goes up in value due to a variety of
1
$1,319
factors, such as quality of construction, highend finishes, a superior lot or a prime location.
FOR MORE GUIDES AND REPORTS, PLEASE VISIT ONESOTHEBYSREALTY.COM/REPORTS. ©MMXVI 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.
DISCOVER OUR WORLD. #ONLYWITHONE