Ft. Lauderdale Real Estate Market Report| Ft. Lauderdale Homes Sold in 2010

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

Single Family Homes Purchased in Ft. Lauderdale: 1/1/2010 – 6/30/2010
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.

Condos, Townhouses, Villas, and Co-ops Purchased in Ft. Lauderdale 1/1/2010 – 6/30/2010
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

Ft. Lauderdale Residential Property for Sale*
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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