Broward Luxury Condos purchased in August of 2011

Luxury Condos and Townhomes Purchased in Broward County in August of 2011

During the month of August, 2011, 42 Luxury Condos and Townhomes were purchased in a purchase price range of $500,000 – $3,445,000 in Broward County. The properties that sold are located in the Cities of Ft. Lauderdale, Hallandale Beach, Hollywood, Lauderdale by the Sea, and Pompano Beach. Of the properties that were purchased, Trump Hollywood Condo was the top performer with the most sales, highest purchase prices, and highest total sales volume (11 Units were purchased in a purchase price range of $650,100 – $3,445,000, with purchase prices totaling $15,267,700).

Note for comparison purposes: In the purchase price range under $500,000, there were 1,451 purchases of Condos in Broward County during the month of August.

Additional details about the properties that were purchased

All but 5 of the 42 properties that were purchased are Waterfront Properties (located Intracoastal front, Oceanfront, Riverfront in the Las Olas area, and on Ocean Access Canals)
Of the 42 properties that were purchased, 36 were Cash sales, which are typical in the current South Florida Real Estate Market
Regarding Waterfront Condos, the Term “Luxury” is relative because prices vary significantly based on views from the Unit, low Floor vs. high Floor, quality of the Building, type of Waterfront location, and other factors, so it’s possible, in some cases, to pay a luxury price for a Unit that’s in need of complete updating and/or remodeling because the price reflected fabulous views, larger size, and/or other features that demand premium price
1 of the Properties was purchased as a Bank Owned Foreclosure and 6 of the Properties were purchased as Short Sales (Short Sales and Foreclosures ARE NOT the majority of purchases in our Luxury Real Estate Market)

Buildings where the properties are located

2080 Ocean Drive, Beach Club 1, 2, and 3, Coconut Grove Residences, Cristelle Beach Townhomes, Diplomat Ocean Residences, Europa by the Sea, Hampton Beach Club, L’Hermitage, Las Olas Beach Club, Las Olas Grand, Marbella Townhomes, Oceanage, Place des Arts, The Palms, Villas by the Sea, Villas of Positano, Trump Hollywood, Sonata Beach Club, Sapphire, and the Plaza at Oceanside Pompano Beach.