2017 MID-YEAR UPDATE CONDOS IN BROWARD’S MOST PROMINENT NEIGHBORHOODS
BROWARD
COUNTYWIDE STATISTICS | CONDOS
The condominium market in Broward County is materially smaller and less
TOTAL MARKET
diverse than the Miami condo market. However, the waterfront markets in Broward County have long remained the retirement mecca of US-based
WATERFRONT CONDOS
NON-WATERFRONT CONDOS
buyers and a great opportunity for young families looking to invest in prime real estate close to pristine beaches.
# FOR SALE
# SOLD
AVG. $/SF
# FOR SALE
# SOLD
AVG. $/SF
3,667
3,071
$174
3,993
4,912
$113
When comparing data from the first half of 2016 to the first half of 2017, the standout condo market in this area was East Fort Lauderdale which saw gains of 32% of its average price per square foot. This increase came after a 16% dip from our previous report.
LUXURY MARKET
Condo stats in the rest of Broward were mostly stable, Hollywood did see a bit of a drop in pricing but this is partially due to a smaller amount of transactions and may be a bit of an adjustment after the previous period’s 10% increase in pricing.
(THE TOP 50% BY AVERAGE HOME PRICE)
# FOR SALE
# SOLD
AVG. $/SF
$1M – $5M
426
101
$371
$5M – $10M
13
0
N/A
$10M+
2
0
N/A
FOR MORE GUIDES AND REPORTS, PLEASE VISIT http://issuu.com/tejeragroup/ ©MMXVII 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.
Enrique Tejera, P.A. - 305.814.4686 info@sobeone.com
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HALLANDALE BEACH WATERFRONT CONDOS AVG. $/SF
% SAMPLE TRADED
$403/SF
5%
h 3%
g from 4%
HOLLYWOOD BEACH WATERFRONT CONDOS AVG. $/SF
% SAMPLE TRADED
$476/SF
4%
h 21%
h from 6%
1830 S OCEAN DRIVE | #1502, HALLANDALE
VIEW FROM 2845 NE 9 STREET | #1501, FORT LAUDERDALE
EAST FORT LAUDERDALE WATERFRONT CONDOS AVG. $/SF
VALUE COMPARISON AVG. SALES PRICE vs. AVG. CONDO SIZE
% SAMPLE TRADED
$663/SF
6%
g 32%
h from 7%
3,000
HOLLYWOOD 2,500
FT. LAUDERDALE
LAS OLAS
2,000
LAS OLAS
WATERFRONT CONDOS AVG. $/SF
% SAMPLE TRADED
$400/SF
8%
h 3%
h from 13%
HALLANDALE
1,500
SF g $b
$0
To access our full 2017 TRENDS report, please visit http://issuu.com/tejeragroup/docs/2017_trends_annual_report_broward_e?e=12690857/46337668 Detailed methodology is found on page 66 (condo data is based on luxury tower indices). All % changes reflect a comparison of current numbers vs. numbers during the same time period last year (January through June).
$400K
$800K
$1.2M
$1.6M