July and August 2010 Sapphire Condo Sales Update
The information below is an update to my July 14, 2010 and April 9, 2010 posts, which detailed 1st and 2nd Quarter of 2010 Sales in Sapphire Condo (January 1, 2010 – June 30, 2010), during which 40 Condos were purchased in Sapphire (Closed Sales as recorded in Broward County’s Property Tax Records). NOTE: All of the sales in Sapphire have been by individual Buyers–there haven’t been any bulk purchases.
During the months of July and August, 2010, 23 Condos were purchased in Sapphire Condo. This brings Sapphire Condo Sales for 2010 to a total of 63 Units sold. The purchase price range of the Units sold in July and August 2010 was $280,000 – $566,000
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 the most 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.):
- #206N purchased for $280,000 on July 1, 2010
- #901N purchased for $450,000 on July 16, 2010
- #708N purchased for $441,500 on July 16, 2010
- #406N purchased for $300,000 on July 16, 2010
- #602N purchased for $370,000 on July 22, 2010
- #706N purchased for $333,000 on July 26, 2010
- #601N purchased for $428,000 on July 30, 2o10
- #305N purchased for $418,500 on August 30, 2010
South Tower Sales (2821 N. Ocean Blvd.):
- #808S purchsed for $473,000 on August 26, 2010
- #504S purcahsed for $507,500 on August 31, 2010
- #301S purchased for $450,000 on August 31, 2010
- #906S purchased for $395,000 on August 23, 2010
- #1102S purchased for $325,000 on August 20, 2010
- #802S purchased for $324,000 on August 19, 2010
- #1101S purchased for $497,000 on August 18, 2010
- #1107S purchased for $545,000 on August 16, 2010
- #603S purchased for $550,000 on August 2, 2010
- #1106S purchased for $410,000 on August 2, 2010
- #901S purchased for $499,000 on July 30, 2010
- #204S purchased for $378,000 on July 16, 2010
- #703S purchased for $566,000 on July 15, 2010
- #305S purchased for $422,500 on July 7, 2010
- #302S purchased for $287,000 on July 1, 2010
Sapphire Condos for Sale are currently available in a price range of $300,000′s – $1,155,000. Recent sales activity in the Building is phenomenal and the Units with the best views are selling quickly. With 8 full months of 2010 complete and 63 sales already closed during 2010 alone, 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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