Hollywood Lakes
Real Estate Market Report
During the 1st Quarter of 2012, 17 Single Family Homes were purchased in the East Hollywood Community of Hollywood Lakes. The Properties were purchased with a purchase price range of $166,100 – $900,000, with an average purchase price of $355,444.
2 of the properties that were purchased are Waterfront and are located at 945 S. Southlake Drive and 721 N. Southlake Dr.:
- 945 S. Southlake Drive was purchased for $900,000 on March 23, 2012, was built in 1950, has ~100′ of Waterfront, 4 Bedrooms, 4 Full Baths, a Pool, 4,869 Square Feet, a 2-Car Garage, and 1/2 Acre Lot, which is a much larger than average size Lot. Details in the listing state that the House was completely gutted at the time of its’ purchase, so this is a House that was purchased as a “Teardown”/primarily for Land value.
- 721 N. Southlake Drive was purchased for $600,000 on March 15, 2012 and is not a direct Waterfront property, but is located across from the Lake and only 2 Lots away from the Intracoastal. The House is listed as having 4 Bedrooms, 3 Baths, a 1-Car Garage, 30′ of Waterfront across the Street, and 2,346 Square Feet. The House was built in 1947 and, based on its’ pictures, appears to be mostly in original condition and in need of complete renovation.
Of the 17 properties that were purchased, 1 was purchased as a Bank Owned Foreclosure and 6 were purchased as Short Sales.
Homes for Sale in Hollywood Lakes
Of approximately 1,350 total Homes in Hollywood Lakes, only 52 are currently listed for sale, so Inventory is not excessive. The list price range of the Homes is $299,188 – $6,800,000. Of the 52 properties, 17 are Waterfront and are listed in a price range of $895,000 – $6,800,000. The Homes that are currently on the Market were built between 1925 – 2010, however, new Construction Homes are limited in availability, so renovated Homes are a possible alternative. Hollywood Lakes is fortunate not to have a significant number of distressed properties and, of the 52 Properties listed for sale, none are listed as Bank Owned Foreclosures and only 5 are listed as Short Sales.
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