The Palms Oceanfront Condo in Ft. Lauderdale
Real Estate Market Report
Since my previous Market Report, 3 Units were purchased in The Palms. The Units that were purchased are as follows:
- 4-Story Townhome 2180, purchased for $2,800,000 on May 15, 2012: 4 Bedrooms, 4.5 Baths, 4,180 Square Feet of Living Area, private 2-Car Garage, private interior Elevator, Gourmet Kitchen, and private Oceanfront Patio and Garden. The purchase of Townhome 2180 was the first sale of a Townhome since July of 2009 since Townhomes in The Palms are very rarely on the Market for Sale, however 3 of the 7 Townhomes at The Palms were recently listed for sale and 2 are still available for purchase.
- Unit 18D in Tower 2 (2110 N. Ocean-North Tower), purchased for $850,000 on May 18, 2012: 3 Bedrooms, 2.5 Baths, and 2,130 Square Feet of Living Area.
- Unit 10C in Tower 1 (2100 N. Ocean-South Tower), purchased for $749,000 on May 18, 2012: 2 Bedrooms, 2 Baths, and 1,410 Square Feet of Living Area.
Units for Sale
Of 195 total Units in Towers 1 and 2 at The Palms and 7 Townhomes, only 20 are currently listed for sale, so Inventory is at a normal level and is not excessive. The price range of the Units listed for sale is $410,000 – $3,950,000, with an average list price of $1,347,500. 18 of the 20 listings are Condos and 2 of the 20 listings are 4-story direct Oceanfront Townhomes. The Units for sale have 2 Bedrooms, 3 Bedrooms, 4 Bedrooms, and 5 Bedrooms, with spacious sizes of 1,600 – 4,800 Square Feet of Living Area. 5 of the Units are luxury Penthouses. None of the Units for sale are listed as Bank Owned Foreclosures or Short Sales.
Built in 1999 – 2001, The Palms is one of Ft. Lauderdale’s newest direct Oceanfront Condos since only 4 new Condos on the Beach were built in Ft. Lauderdale within the last 15 years. With luxury Amenities, a great location, spacious Units, and beautiful views, The Palms Condo remains a very desirable choice for discerning Buyers.
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