2nd Quarter 2010 Sapphire Condo Sales Update

The information below is an update to my April 9, 2010 post, which detailed 1st Quarter of 2010 Sales in Sapphire Condo when 19 Condos were purchased in Sapphire (Closed Sales as recorded in Broward County’s Property Tax Records).

2010 1st Quarter and 2nd Quarter sales at Sapphire total 40 closed sales!!!

2821 N. Ocean Blvd. and 2831 N. Ocean Blvd. Units Sold
(North and South Tower Sales)

Within the 2nd Quarter of 2010 (April 1, 2010 – June 30, 2010), 21 Closed Sales have been recorded in Property Tax Records, with a purchase date range of April 7, 2010 – June 24, 2010
Their purchase price range was $313,000 – $690,000 (view details below)

Note: The first number of the Unit number indicates the Floor that the Unit is located on. Prices vary, based on size of the Unit, Water views, and Floor location. Regarding Floor location, it should be noted that there are several Units on higher Floors that were purchased for lower prices than Units on lower Floors because of smaller size and/or inferior views (although it’s often assumed that higher Floors always have preferable Water views, that’s not the case if the Unit is positioned such that there are obstructions). Additionally, there are a few finished and furnished Models that were sold.

North Tower Sales (2831 N. Ocean Blvd.):

Penthouse 7N purchased for $675,000 on June 24, 2010
#1106N purchased f or $375,000 on June 18, 2010
#606N purchased for $330,000 on June 14, 2010
#505N purchased for $525,000 on June 2, 2010
#906N purchased for $368,000 on May 17, 2010
#607N purchased for $440,000 on May 3, 2010
#902N purchased for $377,000 on April 22, 2010
#907N purchased for $470,000 on April 19, 2010

South Tower Sales (2821 N. Ocean Blvd.):

#303S purchased for $411,000 on June 11, 2010
#405S purchased for $411,000 on June 11, 2010
#905S purchased for $652,100 on June 7, 2010
#805S purchased for $675,000 on June 2, 2010
#1002S purchased for $322,000 on May 22, 2010
#708S purchased for $450,000 on May 26, 2010
#702S purchased for $313,000 on May 24, 2010
#1005S purchased for $690,000 on May 18, 2010
#601S purchased for $450,000 on May 12, 2010
#606S purchased for $355,000 on May 10, 2010
#706S purchased for $372,000 on April 30, 2010
#707S purchased for $452,000 on April14, 2010
#208S purchased for $365,000 on April 7, 2010

Sapphire Condos for Sale are currently available in a price range of $300,000′s – $800,000′s. Recent sales activity in the Building is phenomenal and the Units with the best views are selling quickly. With only 6 full months of 2010 complete and 40 sales already closed, that’s a definite indicator of significant improvement in the market and a very distinct shift from past market conditions. Inventory continues to decrease and the number of Buyers who are closing sales continues to increase significantly. Additionally, the majority of the best priced deals continue to sell quickly. With the current volume of sales in Sapphire, I think they will probably be fully sold out by the end of this year or early next year.

Sapphire Condo is Fannie Mae approved, so purchases can be Financed through your choice of Lenders. Recent purchases in Sapphire have included a mix of Cash purchases and financed purchases, with the majority being Cash instead of Financed, which is typical in our current market in which Cash sales account for approximately 50% of sales.

Per Representatives at Sapphire Condo, additional Sales are currently pending. When those sales are recorded in Property Tax Records, I will provide future updates (typically, sales are recorded in Property Tax Records online within 1-2 weeks after Closing).

The location, Ocean, and Intracoastal views are beautiful. Click to view the full Building profile for Sapphire Condo in Ft. Lauderdale.

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