Luxury Single Family Homes Purchased in Broward County in June of 2011
During the month of June 2011**, 142 Single Family Homes were purchased in Broward County in a purchase price range of $500,000* – $5,650,000 and information below details their locations and purchase prices. This is a significant increase over the month of May, during which 104 Luxury Homes were purchased.
In the current market, the number of sales are the highest that they’ve been in 5 years and increased sales are occurring in all price ranges, with a particular increase in the Luxury Market. Although it’s Summer, during which Sales are typically lower than the peak buying Season during the Fall, we haven’t experienced a decrease in Sales this Summer.
For sold Property purchases referenced in this post, all prices refer to purchase prices, NOT list prices!
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52 of the 142 purchases are indicated to have been Cash purchases
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11 of the 142 Properties were purchased as Bank Owned Foreclosures. The average number of days that the properties were on the Market (DOM) for sale before receiving an Offer was 19 days (the lowest DOM was 1 day and the highest DOM was 53 days), which is typical in our local Foreclosure Market where 30 DOM are the average. The average list price to sale price percentage was 96.71% (it’s typical in our Foreclosure market that properties are purchased for prices that are close to or above their listed prices and receive multiple Offers).
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13 of the 142 Properties were purchased as Short Sales
Notes for comparison purposes:
- During the month of June, 2011, 1,216 Single Family Homes in Broward County were purchased with prices under $500,000
- During the month of January, 2011, 68 Single Family Homes in Broward County were purchased with prices of $500,000 – $7,757,500
- During the month of February, 2011, 91 Single Family Homes in Broward County were purchased with prices of $500,000 – $2,600,000
- During the month of March, 2011, 117 Single Family Homes in Broward County were purchased with prices of $500,000 – $3,200,000
- During the month of April, 2011, 93 Single Family Homes in Broward County were purchased with prices of $500,000 – $6,000,000
- During the month of May, 2011, 104 Single Family Homes in Broward County were purchased with prices of $500,000 – $4,400,000
Price Band Details
- 45 Properties were purchased in a price range of $500,000 – $594,500
- 24 Properties were purchased in a price range of $600,000 – $695,000
- 25 Properties were purchased in a price range of $710,000 – $799,900
- 7 Properties were purchased in a price range of $800,000 – $899,900
- 5 Properties were purchased in a price range of $900,000 – $975,000
- 29 Properties were purchased in a price range of $1,012,000 – $1,900,000
- 7 Properties were purchased in a price range of $2,600,000 – $5,650,000
Property Purchase Locations and Prices
| City | Number Sold | Purchase Price Range |
| Ft. Lauderdale | 37 | $510,000 – $5,650,000 |
| Cooper City | 2 | $550,000 & $650,000 |
| Coral Springs | 3 | $535,000 – $620,000 |
| Davie | 15 | $515,000 – $1,500,000 |
| Deerfield Beach | 1 | $550,000 |
| Hallandale | 2 | $800,000 & $1,235,000 |
| Hillsboro Beach | 1 | $4,200,000 |
| Hollywood | 7 | $533,000 – $1,150,000 |
| Lauderdale by the Sea | 1 | $775,000 |
| Lighthouse Point | 10 | $600,000 – $1,778,000 |
| Miramar | 3 | $550,000 – $570,000 |
| Parkland | 21 | $500,000 – $1,100,000 |
| Pembroke Pines | 1 | $500,000 |
| Plantation | 6 | $500,000 – $1,450,000 |
| Pompano Beach | 5 | $541,900 – $745,000 |
| Southwest Ranches | 6 | $525,000 – $1,500,000 |
| Weston | 21 | $510,000 – $1,900,000 |
Pictured below is 2416 N. Atlantic Blvd. in Ft. Lauderdale, purchased for $5,650,000 on June 15, 2011
- ~53′ of direct Oceanfront on the Sand in Lauderdale Beach, Ft. Lauderdale’s only Community that has Single Family Homes that are directly on the Beach
- 8,190 Square Feet of Living Area and 9,868 total Square Feet
- 6 Bedrooms and 6.5 Baths
- Resort-style Free-Form Pool and Spa with built-in Table Seating and underwater Color-wheel lighting
- 3-Car Garage
- Elevator
- Gourmet Kitchen and Butler’s Pantry
- 1,000 Square Foot Master Suite with Floor-to-Ceiling Windows, a private Lounge Terrace, 2 Marble baths
- Library
- Impact Glass
- Office
- 2 Laundry Rooms
- Resort-style Poolside Gym
- Oceanfront Bar/Club Room
- Indoor/Outdoor Sound System
- Built in 2005
Broward Luxury Homes for Sale
Currently, there are 1,587 listings of Single Family Homes in Broward County that are listed for prices of $500,000 and above. The highest list price is $39,950,000 for an Oceanfront Home on Hillsboro Mile. Of the 1,587 listings, 15 are Bank Owned Foreclosures and 145 are Short Sales, so distressed properties are a very small part of the current inventory of Luxury properties for sale and Luxury Homes are not the majority of the total inventory of properties listed for sale, contrary to popular opinion. In the price range under $500,000, 4,899 Single Family Homes are listed for Sale in Broward County’s 30 Cities.
If you’re starting your search for Luxury Properties in Broward County and would like to view listings and customize your search, click here to begin.
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Related Information:
- May, 2011 Luxury Home Purchases
- Ft. Lauderdale Luxury Homes and Broward Luxury Homes
- Ft. Lauderdale Intracoastal Homes
- Ft. Lauderdale Waterfront Homes
*-For my Luxury Real Estate Market Reports, I use $500,000 as the minimum purchase price since sales of $500,000 and above in our local Market are the top 10% of our market in terms of purchase prices.
**-For reporting timeframe, I wait several weeks after Closings before I report them in order to allow time for all or most of the purchases to be recorded in the MLS and Property Tax Records.