Beach Club Condos for Sale in Hallandale, FL

Beach Club Condo Real Estate Market Update

In 2011, during the months of January – November, 128 Units were purchased in Beach Club Condo in Hallandale, which means that Beach Club has once again sold the most Units of any Oceanfront Condo in Broward County, as they did last year when 152 Units were purchased!!! All of the Sales in 2010 and 2011 were Resales and were purchased by individual Buyers, not through Bulk sales.

Penthouses, Corner Units, and Units with the best views, largest size, best condition, custom design, and most luxurious finishes continue to command premium prices. Southeast Corner Units remain very desireable, as well as direct Oceanfront Units. In Towers 1 and 3, the 01 – 04 Lines (Units ending in numbers “01” – “04) are the direct Oceanfront Units and in Tower 2, the “01” and “02” Lines are the direct Oceanfront Units.

Details about the 128 Sales in 2011 are included in the Table below. Of 128 Units sold, 96 were Cash purchases. 40 of the 128 sales were Short Sales. 22 of the 128 sales were Bank Owned Foreclosures. The average List price to Purchase price ratio for the Bank Owned Foreclosures was 101.4%, which is typical in our local Market where Foreclosures receive multiple Offers and most are purchased for prices that exceed their list prices.

# of Bedrooms	# of Units Sold	Purchase Price Range	Average Purchase Price
0	2	$280,000 & $320,000	—
1	16	$225,000 – $470,000	$313,228
2	59	$190,000 – $779,000	$460,243
3	51	$374,616 – $1,150,000	$612,840

What a difference 2 Years makes!

Frequently, when working with interested Buyers or just discussing Real Estate with those who ask me how the Market is, I find that they are relying on old Market stats from several years ago, still think that recently constructed Condos are mostly empty, and seriously have no idea that the Market has improved so drastically that construction of new Condos has just started again.

During 2007 and 2008, when South Florida had the highest level of Inventory and the lowest number of sales, Beach Club Condo had just been constructed so, unfortunately, was affected by the downturn that the Market was experiencing at that time. Sales began to increase in 2009 and have steadily continued to increase to the point that current Inventory levels are low and much of the distressed Inventory in the Complex has been purchased.

Of 1,250 total Units in the 3 Towers at Beach Club Condo (Towers 1, 2, and 3), only 75 Units are for sale, which represents 6% of the total number of Units in the Complex. The Inventory level is considered to be healthy when ~10% of the Units are on the Market for sale. In the case of Beach Club Condo, 10% would equal 125 Units.

The lower than average level of Inventory and significantly increased sales creates an environment in which there’s insufficient supply to meet the current level of demand and Multiple Offers have become common again. In Beach Club and the majority of other Condos, the number of Units that are selling exceed the number of new listings that are coming on the Market in the Buildings.

Beach Club Condo Units for Sale and for Lease/Rent

Beach Club Condo remains a very popular choice because of its direct Oceanfront location on ~9 Acres, Contemporary design, luxury lifestyle choices, great prices, beautiful views offered from most Units (Ocean, Coastline, Beach, City Skyline, and/or Intracoastal) and fabulous Amenities (Restaurant, fully-staffed full-service Spa, 3 Pools, Valet, Concierge, Beach service, 3 Fitness Centers, Garage Parking, etc.)