Ft. Lauderdale Real Estate Market Report
Below, I included information about Single Family Homes and Condos purchased in Ft. Lauderdale during the first 6 months of 2010. Within that period of time, records indicate that 875 Single Family Homes were purchased in Ft. Lauderdale.
Within the same period of time, 6,058 Single Family Homes were purchased in the other 29 Cities in Broward County. What this means is that, despite very popular opinion to the contrary, the majority of Real Estate sales in Broward County aren’t concentrated in Ft. Lauderdale.
- The purchase price range of the 875 Homes purchased was $12,500 – $10,800,000, with an average purchase price of $327,296
- 353 of the Homes are located in East areas of Ft. Lauderdale and the Beach area. For those Homes, the average purchase price was $615,029
- The lowest purchase price ranges continue to have the highest concentration of Foreclosures
- 478 of the 875 purchases are listed as being Cash purchases, as is typical in the current market
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Single Family Homes Purchased in Ft. Lauderdale: 1/1/2010 – 6/30/2010 |
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| Purchase Price Ranges | # Sold | Cash Sales | Bank Owned | Short Sales |
| Under $100,000 | 311 | 271 | 207 | 44 |
| $100,000 – $199,999 | 201 | 63 | 65 | 33 |
| $200,000 – $299,999 | 97 | 37 | 24 | 22 |
| $300,000 – $399,999 | 69 | 24 | 6 | 20 |
| $400,000 – $499,999 | 38 | 12 | 2 | 2 |
| $500,000 – $999,999 | 83 | 36 | 4 | 19 |
| $1,000,000+ | 48 | 35 | 2 | 5 |
Facts about the 311 Homes that were purchased for under $100,000:
- 118 have 2 Bedrooms
- 144 have 1 Bathroom
- 18 have a Pool
- 33 have a Garage
- Only 37 are located in East Ft. Lauderdale (most are located West)
- Most are “Fixer Uppers” that are typically purchased by Investors
- 271 were Cash Sales (our local market for properties purchased under $100,000 IS NOT dominated by First Time Home Buyers)
Condo Purchases
During the first 6 months of 2010, purchases of 1,200 Condos, Villas, Co-ops, and Townhouses were recorded in Ft. Lauderdale. Within the same period of time, 8,223 Condos, Villas, Co-ops, and Townhouses were sold in Broward County Cities outside of Ft. Lauderdale.
Of the 1,200 properties purchased in Ft. Lauderdale, the purchase price range was $14,500 – $4,000,000, with an average purchase price of $254,321.
View additional property purchase details in the Table below.
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Condos, Townhouses, Villas, and Co-ops Purchased in Ft. Lauderdale 1/1/2010 – 6/30/2010 |
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| Purchase Price Ranges |
# Sold |
Waterfront | Cash Sales | Bank Owned | Short Sales |
| Under $100,000 | 291 | 33 | 253 | 139 | 60 |
| $100,000 – $199,999 | 408 | 167 | 301 | 111 | 109 |
| $200,000 – $299,999 | 178 | 97 | 117 | 35 | 34 |
| $300,000 – $499,999 | 195 | 139 | 135 | 9 | 28 |
| $500,000 – $999,999 | 102 | 87 | 77 | 9 | 12 |
| $1,000,000+ | 26 | 24 | 24 | 0 | 2 |
- 907 of the 1200 sales were Cash sales
- The lowest priced purchases WERE NOT Waterfront properties
- The majority of Foreclosures are concentrated in the lower purchase price ranges
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Ft. Lauderdale Residential Property for Sale* |
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| Property Type | # for Sale | Bank Owned** | Short Sales |
| Single Family Homes | 1,405 | 97 | 353 |
| Condos | 1,317 | 59 | 278 |
| Villas | 13 | 3 | 3 |
| Townhouses | 271 | 14 | 81 |
| Co-ops | 192 | 0 | 1 |
| Condo Hotel | 63 | 1 | 10 |
Notes:
*-This Report does not include Land, Commercial Property, or Multi-Family Property/Income Property such as Duplexes, etc.
**- The following factors affect the levels of Bank owned Inventory in Ft. Lauderdale: Bank Owned Inventory is typically on the Market an average of 30 days or less before being purchased, Banks don’t release all of their Inventory at once, and Cities that are located West have more properties and higher Foreclosure Inventory than Ft. Lauderdale
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