3rd Quarter Report for Luxury Single Family Homes Purchased
in Broward County
During the 3rd Quarter of 2011, 269 Single Family Homes were purchased in Broward County in a purchase price range of $500,000* – $5,650,000 and information below details their locations and purchase prices.
In the current market, the number of sales are the highest that they’ve been in 5 years and increased sales are occurring in all price ranges, with a particular increase in the Luxury Market.
*-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 sold Property purchases referenced in this post, all prices refer to purchase prices, NOT list prices!
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82 of the 269 purchases are indicated to have been Cash purchases
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15 of the 269 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 19 days (the lowest DOM was 1 day and the highest DOM was 53 days), which is typical in our local Foreclosure Market where 30 DOM are the average. The average list price to sale price percentage was 96.71% (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).
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48 of the 269 properties were purchased as Short Sales
Price Band Details
- 99 Properties were purchased in a price range of $500,000 – $599,900
- 58 Properties were purchased in a price range of $600,000 – $697,500
- 29 Properties were purchased in a price range of $700,000 – $795,000
- 19 Properties were purchased in a price range of $800,000 – $899,000
- 5 Properties were purchased in a price range of $915,000 – $985,000
- 48 Properties were purchased in a price range of $1,000,000 – $1,975,000
- 11 Properties were purchased in a price range of $2,000,000 – $5,650,000
Property Purchase Locations and Prices
| City | Number Sold | Purchase Price Range |
| Ft. Lauderdale | 61 | $500,000 – $3,500,000 |
| Weston | 50 | $500,000 – $2,325,000 |
| Parkland | 46 | $500,000 – $4,000,000 |
| Davie | 31 | $508,555 – $1,875,000 |
| Plantation | 15 | $500,000 – $1,600,000 |
| Lighthouse Point | 12 | $550,000 – $5,650,000 |
| Cooper City | 3 | $500,000 – $600,000 |
| Coral Springs | 8 | $545,000 – $860,000 |
| Dania Beach | 1 | $500,000 |
| Deerfield Beach | 3 | $575,000 – $720,000 |
| Hallandale Beach | 3 | $790,000 – $1,375,000 |
| Lauderdale by the Sea | 2 | $510,000 – $700,000 |
| Miramar | 5 | $500,000 – $560,000 |
| Pembroke Pines | 3 | $520,000 – $680,000 |
| Pompano Beach | 9 | $520,000 – $875,000 |
| Sea Ranch Lakes | 3 | $825,000 – $899,000 |
| Southwest Ranches | 5 | $505,000 – $1,048,000 |
| Wilton Manors | 2 | $500,000 – $528,000 |
Details about the property that was purchased for $5,650,000 (pictured below)
- Located at 3050 NE 44th St. in Lighthouse Point in the Community of Venetian Isles
- Purchased for $5,650,000 on August 24, 2011
- 7 Bedrooms and 8.5 Baths
- 10,242 Square Feet of Living Area and 13,458 total Square Feet
- Built in 2005
- 300′ of Waterfront located on a Point Lot where the Grand Canal meets the Intracoastal Waterway (has protected Dockage on a side Canal and provides sufficient Dockage for a Yacht)
- Pool
- 9-Car Garage
Broward Luxury Homes for Sale
Currently, there are 1,608 listings of Single Family Homes in Broward County that are listed for prices of $500,000 and above. The highest list price is $35,500,000 for an Oceanfront Home on Hillsboro Mile. Of the 1,608 listings, 16 are Bank Owned Foreclosures and 150 are Short Sales, so distressed properties are a very small part of the current inventory of Luxury properties for sale. Additionally, 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, 4,658 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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