TRENDS 2017 Single Family Homes Mid-Year Update Broward County

2017 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

The key to Broward’s strong single-family market performance in 2016 was

TOTAL MARKET

owed to the relative value of the homes; priced in many markets at 30% to 50% less expensive than comparable product in Miami-Dade County.

WATERFRONT HOMES

NON-WATERFRONT HOMES

Coupled with strong economic performance in Broward, an expanding port, vibrant office markets and other significant economic drivers, the Broward single-family home market has shown its potential.

# FOR SALE

# SOLD

AVG. $/SF

# FOR SALE

# SOLD

AVG. $/SF

1,577

1,753

$185

3,094

5,561

$146

Pricing for single-family homes in Broward witnessed the most gains in Eastern Fort Lauderdale, specifically in Las Olas Isles, Harbor Beach, Victoria Park and Colee Hammock. Bay Colony in Broward’s North End also saw a

LUXURY MARKET

(THE TOP 50% BY AVERAGE HOME PRICE)

significant increase in pricing but the small sample size makes it difficult to truly compare to larger neighborhoods. While other areas did see some slight drops in pricing, there is still time for the overall 2017 numbers to outrank those of 2016 in the Broward single-family market.

# FOR SALE

# SOLD

AVG. $/SF

$1M – $5M

870

288

$294

$5M – $10M

60

3

$889

$10M+

26

1

$1,077

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

DISCOVER OUR WORLD. #ONLYWITHONE

WATERFRONT vs. NON-WATERFRONT MARKET SIZES BY NUMBER OF SINGLE-FAMILY HOME TRANSACTIONS

BROWARD / SOUTH END 22%

78%

EAST FORT LAUDERDALE 36%

64%

BROWARD / NORTH END 64%

36% WATERFRONT SINGLE-FAMILY HOMES

WESTERN SUBURBS 0%

NON-WATERFRONT

100%

SINGLE-FAMILY HOMES

6855 NW 122 AVENUE, PARKLAND

BROWARD / SOUTH END

EAST FORT LAUDERDALE

WATERFRONT HOMES

NON-WATERFRONT HOMES

AVG. $/SF

AVG. LUX PRICE

AVG. $/SF

AVG. LUX PRICE

HOLLYWOOD BEACH

$363/SF

$1.4M

$240/SF

$523K

h 2%

h 42%

0%

h 13%

HALLANDALE BEACH

$373/SF

$1.65M

$319/SF

$1M

h 39%

h 28%

h 30%

g 13%

NON-WATERFRONT HOMES

AVG. $/SF

AVG. LUX PRICE

AVG. $/SF

AVG. LUX PRICE

LAS OLAS ISLES

$610/SF

$4.6M

$575/SF

$2.17M

g 2%

g 61%

g 23%

g 60%

HARBOR BEACH

$627/SF

$2.95M

$316/SF

$1.29M

g 58%

g 2%

g 24%

h 52%

FORT LAUD. BEACH

$504/SF

$2.5M

$470/SF

$1M

h 33%

h 61%

h 2%

h 46%

$673/SF

$2.78M

$411/SF

$1.59M

h 20%

h 67%

g 5%

g 18%

$929/SF

Insufficient data: No sales

$322/SF

$968K

h 6%

g 12%

RIO VISTA

VICTORIA P. & C. HAMMOCK

SUNRISE KEY

CORAL RIDGE / C.R.C.C.

517 ISLE OF PALMS DRIVE, FORT LAUDERDALE

WATERFRONT HOMES

g 59% Insufficient data: No sales

Insufficient data: No sales

No non-waterfront single-family home market available

No non-waterfront single-family home market available

$470/SF

$1.1M

$289/SF

$778K

h 16%

h 62%

h 4%

h 10%

C.R.C.C: Coral Ridge Country Club

BROWARD / NORTH END

LAUDERDALE -BY-THE-SEA HILLSBORO BEACH LIGHTHOUSE POINT

BAY COLONY

SEA RANCH

THE LANDINGS

WESTERN SUBURBS

WATERFRONT HOMES

NON-WATERFRONT HOMES

NON-WATERFRONT HOMES

AVG. $/SF

AVG. LUX PRICE

AVG. $/SF

AVG. LUX PRICE

AVG. $/SF

AVG. LUX PRICE

$520/SF

$1.58M

$292/SF

$635K

$246/SF

$1.28M

h 4%

g 6%

h 14%

h 31%

g 4%

g 9%

$1,633/SF

$17.3M

$543K

g 81%

No non-waterfront single-family home market available

$173/SF

g 26%

No non-waterfront single-family home market available

g 3%

0%

$394/SF

$1.32M

$230/SF

$470K

$165/SF

$323K

h 8%

h 43%

g 6%

h 16%

g 12%

g 10%

$899/SF

$4.15M

$739K

g 60%

No non-waterfront single-family home market available

$206/SF

g 147%

No non-waterfront single-family home market available

h 2%

g 19%

$629/SF

$3.9M

$374/SF

$1.17M

$192/SF

$806K

g 102%

g 13%

g 6%

h 2%

g 3%

h 3%

$380/SF

$1.9M

h 11%

g 8%

Insufficient data: No sales

Insufficient data: No sales

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.

Avg. Lux Price = The top 50% of each market by average home price

SOUTHWEST RANCHES

PLANTATION

SUNRISE

WESTON

PARKLAND

A RISING MARKET FOR FAMILIES Broward’s western suburbs, while not ocean- or canal-front, do offer a vast amount of manmade lakes where most luxury homes are built.

These suburban residences generally maintain a much lower price per square foot and come at a much larger size than homes closer to the coast, making them an ideal option for families with young children.

In addition to their affordability, the western suburbs tend to be safe living options with high-quality education. Weston, for example, has ranked as the best place to live in Florida several times and as one of the “best affordable suburbs” in the country.

All % changes reflect a comparison of current numbers vs. numbers during the same time period last year (January through June).