Luxury Condos and Townhomes Purchased in Broward County in June of 2011
During the month of June, 2011, 62 Luxury Condos and Townhomes were purchased in a purchase price range of $500,000 – $3,132,500 in Broward County. The properties that sold are located in the Cities of Ft. Lauderdale, Hallandale, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Pompano Beach, and Sunrise. Of the properties that were purchased, Trump Hollywood Condo was the top performer with the most sales and highest purchase prices (9 Units were purchased in a purchase price range of $670,000 – $3,132,500, with total sales of $11,067,200).
Note for comparison purposes: In the purchase price range under $500,000, there were 1,574 purchases of Condos in Broward County during the month of June.
Although it’s Summer, during which Sales are typically lower than the peak buying Season during the Fall, we haven’t experienced a decrease in Sales this Summer.
Additional details about the properties that were purchased
- All but 3 of the 62 properties that were 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
- 1 of the Properties was purchased as a Bank Owned Foreclosure and 4 of the Properties were purchased as Short Sales (Short Sales and Foreclosures ARE NOT the majority of purchases in our Luxury Real Estate Market)
- Of the 62 properties that were purchased, 52 were Cash sales, which are typical in the current South Florida Real Estate Market
Aside from the Sales at Trump Hollywood, a few of the other top sales in June with highest purchase prices include the following:
- Villas of Positano Unit V11: purchased for $1,490,000
- Europa by the Sea Unit 1404: purchased for $1,450,000
- Ocean Palms Condo Unit 3508: purchased for $1,450,000
- Point of Americas Condo Unit 2601-2: purchased for $1,200,000
- Sapphire Condo Penthouse 05S: purchased for $1,095,000
- Alhambra Place Condo Unit 502: purchased for $1,187,500
- Beach Club Condo Penthouse 4401: purchased for $1,150,000
- Diplomat Oceanfront Residences Condo Unit 702: purchased for $1,075,000
- L’Hermitage Condo Unit 2007: purchased for $1,019,000
Ft. Lauderdale Properties Sold
Watergarden Condo, Venetian Condo, The Palms Condo, Reflections of Las Olas, Point of Americas, Playa del Mar, Las Olas Retreat, Las Olas Grand, L’Hermitage, L’Ambiance, Jackson Tower, Hendricks Isle Retreat, Coconut Grove Residences Condo, and Alhambra Place Condo.
Pompano Beach Properties Sold
Sonata Beach Club Condo, The Plaza at Oceanside Pompano Beach, and Claridge Condo.
Hollywood Properties Sold
Trump Hollywood Condo, Villas of Positano Condo, Ocean Palms Condo, Harbor Islands, and Diplomat Oceanfront Residences Condo.
Hallandale Properties Sold
Beach Club Condo 1, 2, and 3.
Lauderdale by the Sea Properties Sold
Villas by the Sea Condo, Sea Ranch Club Condo, Marina Village, Europa by the Sea Condo, and Atlantic Beach Villas.
Hillsboro Beach Property Sold
1200 Hillsboro Mile
Sunrise Property Sold
Artesia
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