Broward Luxury Homes Purchased in May of 2011

Luxury Single Family Homes Purchased in Broward County in May of 2011

During the month of May 2011**, 104 Single Family Homes were purchased in Broward County in a purchase price range of $500,000* – $4,400,000 and information below details their locations and purchase prices. For sold Property purchases referenced in this post, all prices refer to purchase prices, NOT list prices!

41 of the 104 purchases are indicated to have been Cash purchases
8 of the 104 Properties were purchased as Bank Owned Foreclosures. The average number of days that the properties were on the Market (DOM) for sale before receiving an Offer was 22 days (the lowest DOM was 7 days and the highest DOM was 41 days), which is typical in our local Foreclosure Market where 30 DOM are the average. The average list price to sale price percentage was 100.88% (4 of the properties were purchased for prices that were higher than their listed prices and it’s typical in our Foreclosure market that properties are purchased for prices that are close to or above their listed prices and receive multiple Offers).
13 of the 104 Properties were purchased as Short Sales

Notes for comparison purposes:

During the month of May, 2011, 1,104 Single Family Homes in Broward County were purchased with prices under $500,000
During the month of January, 2011, 68 Single Family Homes in Broward County were purchased with prices of $500,000 – $7,757,500
During the month of February, 2011, 91 Single Family Homes in Broward County were purchased with prices of $500,000 – $2,600,000
During the month of March, 2011, 117 Single Family Homes in Broward County were purchased with prices of $500,000 – $3,200,000
During the month of April, 2011, 93 Single Family Homes in Broward County were purchased with prices of $500,000 – $6,000,000

City	Number Sold	Purchase Price Range
Ft. Lauderdale	34	$519,000 – $3,250,000
Weston	11	$502,000 – $1,500,000
Parkland	11	$520,000 – $900,000
Davie	10	$575,000 – $1,800,000
Cooper City	3	$520,000 – $590,000
Coral Springs	4	$550,000 – $750,000
Dania Beach	1	$537,500
Deerfield Beach	1	$530,000
Hollywood	3	$535,000 – $775,000
Lauderdale by the Sea	1	$720,500
Lighthouse Point	8	$510,000 – $1,235,000
Plantation	6	$680,000 – $1,375,000
Miramar	1	$500,000
Oakland Park	1	$570,000
Pembroke Pines	1	$540,000
Pompano Beach	4	$630,000 – $4,400,000
Sea Ranch Lakes	1	$800,000
Southwest Ranches	3	$515,000 – $1,050,000

Price Band Details

30 Properties were purchased in a price range of $500,000 – $595,000
14 Properties were purchased in a price range of $600,000 – $695,000
13 Properties were purchased in a price range of $700,000 – $792,000
12 Properties were purchased in a price range of $800,000 – $875,000
4 Properties were purchased in a price range of $900,000 – $995,000
25 Properties were purchased in a price range of $1,000,000 – $1,906,250
6 Properties were purchased in a price range of $2,100,000 – $4,400,000

Pictured below is 2593 S.E. 8th Street in Pompano Beach, purchased for $4,400,000 on May 4, 2011

260′ of Waterfront on a Point Lot (located at the Point of Lake Santa Barbara and an Ocean access Canal, one Lot away from the Intracoastal)
Offers ~150 Feet of Dockage for a large Vessel
Built in 2006
11,312 Square Feet
5-Car Garage
6 Bedrooms and 7.5 Baths
Features beautiful views of the Intracoastal and Lake Santa Barbara

Communities where the 104 Homes were purchased

Ft. Lauderdale

Beach Way Heights, Bermuda-Riviera, Colee Hammock, Coral Ridge Country Club, Coral Ridge Galt, Coral Ridge Isles, Coral Ridge North & South, Golf Estates, Harbor Beach, Las Olas by the Sea, Lauderdale Beach, Lauderdale Harbors, Las Olas Isles, Poinsettia Heights, Victoria Park, Rio Vista, Riviera, Sunrise Intracoastal, The Landings, and Victoria Isles.

Weston

Windmill Ranch Estates, Weston Hills Country Club, Egret Landing, Isles at Weston, Palm Island, The Landings-Pelican Landings, Savanna, and North Lakes-Heritage Lakes.

Cooper City

Hibbs Grove, Ericson Estates, and Monterra

Coral Springs

The Isles, Whispering Woods, Eagle Trace, Heron Bay

Dania Beach

Stirling Oaks Estates

Davie

Exotic Acres, Imagination Farms, Stonebrook Estates, Rolling Estates Golf Estates, Long Lake Estates, Long Lake Ranches, Mystique Estates, Peico Estates, and Riverstone

Deerfield Beach

Eastway Park

Hollywood

Hollywood Beach and Hollywood Lakes

Lauderdale by the Sea

Bel-Air Isle

Lighthouse Point

Coral Key Villas, Hillsboro Isles, Lighthouse Point 3rd, and Venetian Isles

Plantation

Hawks Landing

Miramar

Harbour Lakes Estates

Oakland Park

Oakland Park 2nd

Parkland

Cypress Head, Fox Ridge, Heron Bay, Parkland Golf and Country Club, Pine Tree Estates, and The Vistas

Pembroke Pines

Grand Palms

Pompano Beach

Harbor Village, Palm Ridge, and Santa Barbara Shores

Sea Ranch Lakes

Sea Ranch Lakes

Southwest Ranches

Sunshine Ranches and Griffin

Broward Luxury Homes for Sale

Currently, there are 1,605 listings of Single Family Homes in Broward County that are listed for prices of $500,000 and above. The highest list price is $39,950,000 for an Oceanfront Home on Hillsboro Mile. Of the 1,605 listings, 12 are Bank Owned Foreclosures and 142 are Short Sales, so distressed properties are a very small part of the current inventory of Luxury properties for sale and Luxury Homes are not the majority of the total inventory of properties listed for sale, contrary to popular opinion. In the price range under $500,000, 5,369 Single Family Homes are listed for Sale in Broward County’s 30 Cities.

If you’re starting your search for Luxury Properties in Broward County and would like to view listings and customize your search, click here to begin.

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Related Information:

*-For my Luxury Real Estate Market Reports, I use $500,000 as the minimum purchase price since sales of $500,000 and above in our local Market are the top 10% of our market in terms of purchase prices.

**-For reporting timeframe, I wait several weeks after Closings before I report them in order to allow time for all or most of the purchases to be recorded in the MLS and Property Tax Records.