Luxury Condos and Townhomes Sold in Ft. Lauderdale and Broward

December, 2010 Luxury Condo and Townhome Purchases in Broward County

During the month of December, 2010, 54 Luxury Condos and Townhomes were purchased in a purchase price range of $500,000 – $1,685,000 in Broward County. 43 of the 54 sales are indicated to have been Cash purchases, which is typical in our current market, particularly in the Condo market, where Cash purchases currently represent ~80% of all purchases.

The properties are located in the Cities of Ft. Lauderdale, Hallandale, Hillsboro Beach, Hollywood, Pompano Beach, and Lauderdale by the Sea.

Notes for comparison purposes:

During the month of November, 2010, 36 Luxury Condos were purchased in a purchase price range of $500,000 – $1,550,000, so the number of Luxury Condo purchases increased during the month of December
In the purchase price range under $500,000, there were 1,522 purchases of Condos in Broward County during the month of December
During the month of November, there were 1,165 purchases of Condos in Broward County in the purchase price range under $500,000, so the number of purchases in this price range increased significantly as well

Additional details and notes about the properties that were purchased

50 of the 54 properties purchased are Waterfront Properties (located Intracoastal front, Oceanfront, Riverfront in the Las Olas area, and on Ocean Access Canals)
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
6 of the Properties were purchased as Bank Owned Foreclosures
4 of the Properties were purchased as Short Sales

Purchase Price Range Details

17 properties were purchased in a purchase price range of $500,000 – $575,000
10 properties were purchased in a purchase price range of $600,000 – $675,000
9 properties were purchased in a purchase price range of $700,000 – $770,000
7 properties were purchased in a purchase price range of $800,000 – $880,000
2 properties were purchased in a purchase price range of $900,000 – $950,000
9 properties were purchased in a purchase price range of $1,100,000 – $1,685,000

Ft. Lauderdale Properties Sold

45 Hendricks, Coconut Grove Residences (3 Units), Americas on the Park, L’Ambiance, L’Hermitage (5 Units), La Cascade (2 Units), Las Olas Beach Club, Las Olas River House, Le Club International (2 Units), Marine Tower, Millenium Townhouses, Park View Townhomes, Plaza South, Point of Americas (3 Units), Portofino, Sunrise East, Villa Vecchio, Sapphire, and Watergarden.

Pompano Beach Property Sold

Hillsboro Bay by the Sea Townhome

Lauderdale by the Sea Properties Sold

Sea Ranch Club (2 Units), Aquazul, Europa by the Sea, and Village at Seagrape.

Hollywood Properties Sold

Diplomat Oceanfront Residences, Villas of Positano (3 Units), Ocean Palms, Renaissance on the Ocean, and Harbor Islands Townhomes.

Hallandale Properties Sold

11 Units sold in Beach Club Condo in Towers 1, 2, and 3

Hillsboro Beach Property Sold

Hillsboro Ocean Club Condo