Within the first 5 months of 2010 (January 1, 2010 – May 31, 2010), 193 Condos and Townhouses were purchased in Broward County in a purchase price range of $500,000 and above, as recorded in the MLS* and Property Tax Records.
- The 193 Condos were purchased in a price range of $500,000 – $6,750,000 (purchase prices, NOT list prices)
- 139 are indicated to have been Cash purchases, as is typical in our current luxury market
- 38 of the purchases were $1,000,000 and over
- 185 of the 193 properties are Waterfront Properties
- 24 of the sales were Short Sales and 12 were Bank Owned Foreclosures (Short Sales and Foreclosures ARE NOT the majority of Luxury Property sales)
- Of the Cities where the Condos are located, Ft. Lauderdale had the highest number of Sales, accounting for 101 of the sales
- 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
2009 vs. 2010 Sales
Sales have increased since 2009. Within the first 5 Months of 2009, there were 127 Sales of Condos within the $500,000+ purchase price range compared to 185 sales within the first 5 Months of 2010.
Price Range Details for the 181 Properties purchased:
- 69 were purchased for $500,000 – $599,999
- 38 were purchased for $600,000 – $699,999
- 27 were purchased for $700,000 – $799,999
- 20 were purchased for $800,000 – $899,999
- 39 were purchased for $1,000,000 – $6,750,000
Ft. Lauderdale Properties Sold
L’Hermitage, 45 Hendricks, Alhambra Place, Beachway Heights, Coconut Grove Residences, Colee Hammock, Enclave at Victoria Park, Flagler on Fifth, Fountains on Ocean Blvd., Harbourage Place, Intracoastal 31, Jackson Tower, L’Ambiance, La Rive, Landings at Las Olas, Las Olas Beach Club, Las Olas Grand, Las Olas River House, Lofts on the Park, Oceanage, Palm Grove, Place des Arts, Playa del Mar, Plaza East, Plaza South, Point of Americas, Ritz Carlton, Southpoint, The Enclave, The Meritage, The Palms, The Premier, Townhouses at Harbor Beach, Venetian Condo, Versailles, Villa Solimar, Sappire Condo, and Watergarden.
Hillsboro Beach Properties Sold
1200 Hillsboro Mile, 900 Hillsboro Mile, Hillsboro Beach & Yacht Villas, and Ocean Grande.
Deerfield Beach Properties Sold
Ocean Vue and Orchid Beach
Lighthouse Point
Tillotson Square Townhouse
Pompano Beach Properties Sold
Plaza at Oceanside Pompano Beach, Ocean Pearl, Pompano Aegean, Renaissance of Pompano, Sonata Beach Club, The Criterion
Lauderdale by the Sea Properties Sold
Aquazul, Cristelle, Europa by the Sea, Sea Ranch Club, Villas by the Sea, and Oriana by the Sea (4 sales)
Hollywood Properties Sold
Trump Hollywood (8 Units purchased for $1,095,000 – $6,750,000), Beachfront South, Diplomat Residences, Harbor Islands, Mariposa, Ocean Palms, Renaissance on the Ocean, The Moorings, and Villas of Positano
Hallandale Properties Sold
Beach Club and Ocean Marine Yacht Club
*- MLS = Multiple Listing Service (the central Database where Brokers input and store listing and purchase data for properties that they represent for property Owners)
Related Information:
- Market Report- Luxury Single Family Homes Sold in Broward County in 2010 (January 1, 2010 – April 30, 2010)
- Broward Real Estate Market Report
- Ft. Lauderdale Waterfront Condos
- Ft. Lauderdale Oceanfront Condos
- Las Olas Condos
- Ft. Lauderdale Intracoastal Condos
- Ft. Lauderdale Waterfront Townhouses
- Pompano Beach Waterfront Condos
- Lauderdale by the Sea Waterfront Condos
- Hillsboro Beach Waterfront Condos
- Deerfield Beach Waterfront Condos