Pompano Beach Waterfront Homes purchased in 2011

Pompano Beach Real Estate Market Report
Waterfront Single Family Homes

Waterfront properties in Pompano Beach are located on Ocean Access Canals, the Intracoastal, and Oceanfront.

Located adjacent to the North end of Ft. Lauderdale when driving North on U.S. 1/Federal Highway, Pompano Beach offers the lowest prices for Waterfront Single Family properties in Broward County. For those who are interested in Ft. Lauderdale Waterfront properties, but don’t have the budget for them, Pompano Beach would be a good choice to consider since it’s located very close and has significantly lower prices than Ft. Lauderdale.

During the months of January – October of 2011, 97 Waterfront (Ocean Access) Single Family Properties were purchased in Pompano Beach. The properties sold in a purchase price range of $260,000 – $4,400,000.

Properties in Communities without Fixed Bridges

50 of the 97 Properties that were purchased are located in Communities without Fixed Bridges. Such properties are most desirable since Boat Height isn’t restricted. Their purchase price range was $260,000 – $4,400,000, with an average purchase price of $518,186.

The Communities where the properties are located are Country Club Isles, Cypress Point, Harbor Village, Hillsboro Harbor, Palm Ridge, Pompano Beach Estates, Pompano Beach Park, Pompano Isles, Pompano Shores, Santa Barbara Shores, Santa Maria Harbor, and Terra Mar Island Estates, all of which are East of U.S. 1.

The majority of the properties that were purchased are located on Ocean Access Canals, but one is direct Oceanfront in the Community of Hillsboro Shores (purchased for $1,850,000) and 10 are Intracoastal properties purchased in a price range of $535,000 – $4,400,000 (with an average purchase price of $1,247,950).

Properties in Communities with Fixed Bridges

47 of the 97 Properties that were purchased are located in Communities with Fixed Bridges. Their purchase price range was $230,000 – $495,000, with an average purchase price of $340,399. In most of the areas, there’s one Fixed Bridge at U.S. 1/Federal Highway, which has an approximate clearance height of 12′ at high Tide, however, a few of the properties are located in areas where there’s an additional Fixed Bridge with a lower clearance height of approximately 6′.

The Communities where the properties are located are Snug Harbor, Garden Isles, Cypress Lake Estates, Cypress Isles Estates, Cypress Island, Cypress Harbor, Cypress Cove, and Boulevard Park Isles, all of which are East of I-95 and West of U.S. 1, but still very close to the Beach and the Intracoastal. All of the properties are located on Ocean Access Canals.

Additional details about the properties that were purchased

10 of the 97 Properties were purchased as Bank Owned Foreclosures
20 of the 97 Properties were purchased as Short Sales
42 of the 97 purchases were Cash purchases, as is typical in our current Market

Information about the Property that was purchased for $4,400,000 (pictured below)

Purchased on May 4, 2011
Located at 2593 SE 8th St.
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

Current Inventory of Waterfront Properties in Pompano Beach

	Number of Properties	Price Range	Average List Price
Canal Properties with Fixed Bridges	33	$229,900 – $675,000	$451,991
Canal Properties without Fixed Bridges	67	$379,000 – $2,995,000	$850,130
Intracoastal Properties	15	$800,000 – $3,995,000	$1,589,927
Oceanfront Properties	6	$1,750,000 – $8,995,000	$4,893,333

In the South Florida area, the number of Real Estate purchases began increasing significantly in 2009. Purchases have increased in all price ranges and along with the increase in purchases, the availability of the lowest priced deals has decreased significantly, which means that in the most desirable areas that are in highest demand (East and Waterfront), we’re experiencing increases in average purchase prices. This is the case with Pompano Beach Waterfront Properties, which have increased in the number of sales, decreased in availability, and increased in average prices.