Fort Lauderdale Real Estate Blog

February 10, 2012

Q Club Condo-Hotel | Closed Sale

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,South Florida Real Estate,short sales — Tags: , , , , , , , — john sabia @ 5:48 pm
Q Club Condo hotel suite

Q Club Condo Hotel suite Fort Lauderdale Beach

After nearly 2 years of negotiating a short sale with the lender,  approval was finally granted to close on this hotel suite at the Q Club Condo Hotel on Fort Lauderdale Beach.

Boasting impressive views of the Atlantic Ocean from this high floor southeast corner suite totaling approximately 584 square feet, The Q Club Condo Hotel affiliated with Hilton Hotels, offers residents and guests resort living with 4-star amenities and just steps to the sand.

Fort Lauderdale Beach

Beach across from Q Club Condo Hotel in Fort Lauderdale

Originally purchased from the developer in 2007 at $352,000, this suite recently closed at $185,000 (53% discount).

For more information about this property and other Fort Lauderdale Beach Condos for sale, contact me today at 954.850.2397.

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Avenue Lofts | Closed Sale

Filed under: Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,short sales — Tags: , , , , , , , — john sabia @ 5:08 pm
Living area at Avenue Lofts in downtown Fort Lauderdale

Avenue Lofts condo

Clients of mine patiently waiting for this Short Sale to be approved finally closed on this fabulous 2,200+ square foot loft condo at Avenue Lofts in Fort Lauderdale.

Originally purchased in 2006 at $495,900 from the developer, this property closed recently at $274,000 (Discounted 55%).

Avenue Lofts is located near downtown Fort Lauderdale and offers a manufactured version of loft apartments famous and sought after in other cities across the country with high ceilings, exposed duct work, open floor plan and concrete block walls.

For more information about this property and other Fort Lauderdale Condos for sale, contact me today at 954.850.2397.

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October 20, 2011

Fort Lauderdale Condos | Year To Date Market Report

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Fort Lauderdale Townhomes,Market Report,South Florida Real Estate,foreclosure properties — Tags: , , , , , , , , , , — john sabia @ 3:51 pm

Condos in Fort Lauderdale

Inventory for available Fort Lauderdale Condos For Sale including townhouses were down 29.4% year-to-date.  Closed Sales for condos were down 1.3% and pending sales down 29.3%.

Condos For Sale, Sold & Pending

For Sale / Sold / Pending

Average Price per square foot ranged from $178.00 – $208.00; up 2.4% year to date.

Average price per sq ft Condos

Average Price per Sq Ft

Average Days on the market for a condo has shrunk 18% to just under 4 months.  Sales Price versus Listed Price has remained consistent and ranged from 88% – 92%.

Average Days on Market & Sales price vs List Price %

Days on Market & Sales Price vs List Price

The Average List Price for a condominium/ townhouse ranged from $492,000 – $525,000; up 6.7% year to date.  The Average Closed Sales Price ranged from $214,000 – $275,000; up 5.6%.  The Median Sales Price for a condominium ranged from $150,000 – $193,000 and year to date is up 14.7%.

The Condominium Average Price for Sale/ Sold

Average Price For Sale / Sold

Median Sales Price for a condo

Median Sales Price

Months of Inventory based on closed sales were down 28.5% with a 7.7 months supply of condos/ townhomes for sale.

Months of Condo Inventory

Months of Inventory

Fort Lauderdale Condo Foreclosures decreased from under 6% of inventory down to under 3% of inventory; -67%.   Condo Short Sales in Fort Lauderdale made up approximately 10-13% of inventory and have decreased by 46.5% year-to-date.

Condo Foreclosures

Condo Foreclosures

Condo Short Sales

Condo Short Sales

Comparing August 2011 vs August 2010

  • Inventory is down 36.4%
  • Closed Sales are up 12.6%
  • Median Sales Price down 6.6%
  • Months of Inventory down 43.5%

In summary, the condo market continues to improve as inventory has decreased significantly from January.  Closed sales had trended upward in the 2nd quarter, however, they have since slowed down.   Inventory is on the climb again barely under 8 months.

Sellers need to focus on the list price as competition is growing each month.  Buyers continue to have a choice of properties to choose from, however, the sales versus listed price is within 10-20%.

Until next month….

Note: The above commentary is the personal opinion of the author only and should not be construed as “financial advice”.  The market changes from day to day.  Always consult with a professional realtor® before making any decisions about Real Estate.

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May 12, 2011

Fort Lauderdale Real Estate – Market Report | January to March 2011

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report — Tags: , , , , , , , , — john sabia @ 6:17 pm

First quarter Market Report for Fort Lauderdale Real Estate show continued improvement for the Fort Lauderdale Beach, Northeast and Southeast areas for both single family and condominium/townhouse properties.

Inventory was down, Sales were up and pending sales were also up.  The number of properties for sale has trended down across the graph and there are almost 1,000 fewer properties for sale in March 2011 than there were in January 2010.

For Sale, Sold, Pending and New Listing Graph

Number of Homes For Sale, Sold, Pending and Newly Listed

Foreclosures represented 0.04% of inventory and 24% of sales in the first quarter of 2011 :

Foreclosures

Fort Lauderdale REO Foreclosures

Short Sales made up approximately 13% of inventory and 38% of sales in the first quarter of 2011:

Short Sales Graph

Fort Lauderdale Short Sales

Average Price for a property for sale trended up, Average sales price bumped up and down and the Median Price Sold trended upward.

Average Price For Sale and Average Price Sold

Average Price For Sale / Average Price Sold

Median Price for Properties Sold

Median Price Sold

Months of Inventory shrunk significantly.  Look at January 2010 and September 2010 when the months of inventory was 1.5 years.  Even from January to March of this year, months of inventory has reduced by almost half:

Months of Inventory

Months of Inventory

There is still room for improvement, however, these are encouraging signs that the market is rebounding.

If you are interested in buying or selling real estate in Fort Lauderdale, Florida, call me at 954.850.2397.

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March 23, 2011

Recent Home & Condo Sales in Fort Lauderdale

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News — Tags: , , , , , — john sabia @ 3:42 pm

Below are my latest single family home and condo sales in Fort Lauderdale.   I recently received the Coldwell Banker International President’s Circle Award for 2010 which represents a distinguished group of 998 agents out of over 40,000 sales agents.

Playa Del Mar Condo #1206

3900 Galt Ocean Drive #1206, Playa Del Mar

Playa Del Mar Condo

Playa Del Mar 1206 view

Direct Ocean View

Direct ocean view from this high floor ocean front condominium boasting over 1,800 square feet with 2 bedrooms and 2 full baths.  Closed Sales price $445,000.  Listing Office First Realty Management Group.

Everglades House Condo

Everglades House #1002

2000 S Ocean Drive 1002 | Everglades House

Everglades House Condo

Everglades House 1002 view

View from Everglades House Condo

Direct ocean and inlet views from this remodeled 2 bedroom 2 bath condo with 1,524 square feet.  Closed Sales $375,000.  Listing Office RE/MAX Preferred.

Everglades House Condo 407

Everglades House #407

Ocean & Inlet view

This 2 bedroom 2 bath condo was sold in original condition.  With almost 1,700 square feet of living space, the new owners couldn’t wait to create their new dream home.  Closed Sales Price $300,000.

Everglades House #1009

Everglades House 1009

Living Area

Everglades House 1009 view

Ocean view

Port Everglades Inlet and direct ocean views from this renovated 2 bedroom 1.5 bath condo with 1,200 square feet.  Closed Sales Price $315,000.

Atlantic Towers #1707

Atlantic Towers Co-Operative

Atlantic Towers Co-Op

High Floor studio apartment with full kitchen at Atlantic Towers Co-Op. Impressive ocean and intracoastal views and a blank canvass ready for renovations.  Closed Sales Price $64,000.

Cromwell East Condo

Cromwell East 1777 SE 15th Street

Cromwell East Condo

Pool and Dock Cromwell East

View of pool and marina

Ideal Southeast Fort Lauderdale location from this 2 bedroom 1 bath waterfront condo that features boat slips when available.  Closed Sales Price $110,000.  Listing Office Prudential Florida Realty.

Fountains On Ocean Boulevard

Fountains on Ocean Boulevard

Fountains on Ocean Boulevard Condo

Kitchen in #500 Fountains on Ocean Condo

Elegant Gourmet Kitchen

Living Room

Living Room

View From Fountains on Ocean Boulevard

Small Ocean view

Fountains on Ocean Boulevard Condo is one of 2 recent newly constructed residences across from the beach between Oakland Park and Sunrise Boulevard.  Fountains recently sold out the remaining units at a public auction.   Closed Sales Price for this 2 bedroom 2bath condo with more than 1,500 square feet was $439,000 including many developer incentives.

Monterra at Cooper City

Monterra Cooper City

Anacapa Home at Monterra

Kitchen at Monterra home

Upgraded Kitchen

Lake View Monterra at Cooper City

Lake View

Monterra at Cooper City is a new construction gated community offering buyers several floor plans to suit their needs.  This Anacapa Home in Santa Barbara features 3 bedrooms, 2.5 baths with over 2,700 total square feet.  Closed Sales Price $335,900 before upgrades.  Developer CC Devco Homes.

Contact me at 954.850.2397 if I can help you buy or sell a home or condo in the Fort Lauderdale area.

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October 23, 2010

Fort Lauderdale Condos | Market Update – 3rd Quarter 2010

Filed under: Florida real estate,Fort Lauderdale Condos,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , , , — john sabia @ 8:23 pm

Fort Lauderdale Condos

Fort Lauderdale Real Estate – Third Quarter Market Trends for Fort Lauderdale Beach, Northeast and Southeast condominiums.

In September, inventory for Fort Lauderdale Condos for sale increased by 1% month over month and were down -7.6% from  January this year.  New Listings were up 8% in September; however they were down -24.4% as compared to January.  Closed Sales were down -20.3% from the previous month and were also down -2.5% as compared to January.  Pending Condo Sales were up 8.3% from August and were down -20.4% from January.

For Sale/ Sold/ Pending/ New Listing - Condominiums/Townhomes

    1 Month   9 Months    
  Sep 10 Aug 10 % Change Sep 10 Jan 10 % Change
For Sale 1900 1881 1% 1900 2056 -7.6%
New Listing 338 313 8% 338 447 -24.4%
Sold 118 148 -20.3% 118 121 -2.5%
Pending 195 180 8.3% 195 245 -20.4%

Of these figures, Inventory for Fort Lauderdale Condo Foreclosures was up 7.8% in September from August with a total of 110 properties classified as bank owned (5%).  As compared to January, REO inventory was also up 64.2%.  Closed Sales categorized  as foreclosures remained the same month over month and were up 20% as compared to January.

Condo Short Sales Inventory was down -0.9% in September from August with 321 properties (16%); however, inventory was up 7% as compared to January.  Closed short sales were down -12.5% in September from August and up 21.7% as compared to January.

The Average Price per square foot for a condo in September was $178.00, down -13.7% month over month and down -24.4% as compared to January.


The Average Days on the Market was down -24.3% in September and down -22.9% as compared to January.  Sales Price versus List Price differential ranges from 84% – 91%.


The Average Closed  Sales Price for condominiums in September was $224.00; down -14.8% from previous month and down -19.1% from January.  The Median Sales Price in September was $166.00; down 8.3% from August and down -7.8% as compared to January.


In September, there were 16.1 months of available condo inventory, up 26.7% from previous month and down -5.2% from January.

As we head into the winter season combined with the weak US dollar, I suspect we will see an influx of foreign investors and 2nd home buyers looking to take advantage of attractively priced condominiums on the sand or near the beach that on average are approximately 40-50% less than they were during the boom years.

The graph below illustrates Average Price For Sale and Average Price of Closed Sales from September 2002 to present day.  As you can see, we are basically back to 2003 prices.  I think we may very well be seeing a leveling off.


Fort Lauderdale Waterfront Homes | Market Report – 3rd Quarter 2010

Fort Lauderdale Homes For Sale | Market Report – 3rd Quarter 2010

For more information about Buying  or Selling Fort Lauderdale Condos, contact me today at 954.850.2397.

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September 16, 2010

Lauderdale By Sea Real Estate | Market Report – 2nd Quarter 2010

Filed under: Fort Lauderdale Real Estate News,Lauderdale by the Sea,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , — john sabia @ 6:05 pm

In addition to the Market Reports that I blog for Fort Lauderdale Real Estate, I have decided to dig deeper into the numbers and provide detailed market reports and trends for specific neighborhoods.

As real estate is local, there can be vast differences from one neighborhood versus another as well as significant differences from the larger more general area.

Whether you are buying or selling, understanding market trends will benefit you greatly.

I will attempt to provide these on a quarterly basis.  The first of these quarterly reports is Lauderdale By the Sea area.

Lauderdale By the Sea Real Estate Market Trends

Waterfront homes: From January through June, available waterfront homes for sale in Lauderdale by the Sea has been about 30+ homes for sale.    In June and later months, there has been an increase of available homes for sale.  Closed Sales: 3 homes sold from January thru March.  7 homes sold from April thru June.  Pending Sales: A total of 6 homes went under contract from January thru March and another 6 from April thru June.

Average Price Per Square Foot

Average Days on the market had significantly reduced from almost 2 years to under a year for the first six months. In the same time period, homes have sold from 75% to 90% of List price.

While the average List Price of a home has remained constant, the Average Sales Price has steadily increased.

The Median Price of sold homes has increased steadily over the first 6 months of the year.

Months of Inventory for the first 6 months fluctuated with a significant dip in May.

Lauderdale by the Sea waterfront Foreclosures are not a significant issue.

Waterfront Short Sales in Lauderdale by the Sea are not significant.

Non Waterfront Single Family Homes: Homes for sale in Lauderdale by the sea from January thru June have decreased.  Closed Sales: 6 homes sold from January thru March.  8 homes sold from April thru June.  Pending Sales:12 homes went under contract from January thru March and 5 homes went pending from April thru June.

Average Price Per Square Feet.

The Average time on the Market for a home from January thru May was 4-5 months.  I’m not sure what happened in June.  Homes sold for 90% of the asking price.

The Average List Price has remained consistent for the first 6 months, the Average Sales Price has fluctuated up and down.

Median Sales Price has fluctuated.

Months of Inventory decreased during the first 3 months; however, it has continued to increase significantly since May.

Lauderdale By the Sea Foreclosures are not a significant issue.

Lauderdale by the Sea Short Sales are not a significant issue.

For more information about buying or selling a home in Lauderdale by the Sea, contact me at 954.850.2397.  Buyers can begin their home search by viewing Fort Lauderdale MLS listed properties with photos and detailed brochures.

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source: all reports presented are based on data supplied by the Realtor Association of Greater Fort Lauderdale.  Neither the Association, their members nor their MLSs guarantee or are in anyway responsible for its accuracy.  Data maintained by the Association or their MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

October 14, 2009

5260 SW 5th St | Plantation Florida – Sold

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Just Sold,Real Estate News,South Florida Real Estate — Tags: , , , , — john sabia @ 1:00 pm

Taking advantage of the First time home buyer tax credit, clients  of mine just recently bought this waterfront home in Plantation, Florida.

A 3 bedroom 2 bath pool home with canal views surrounded by tropical landscape and fruit trees set the perfect setting for Florida outdoor living.

5260 SW 5th St, Plantation - front exterior

5260 SW 5th St, Plantation Florida - exterior back

 Kitchen - 5260 SW 5th St, Plantation Florida

 Living Room - 5260 SW 5th St, Plantation Florida

Dining Room - 5260 SW 5th St, Plantation Florida

Pool view - 5260 SW 5th St, Plantation Florida

 water view - 5260 SW 5th St, Plantation Fl

Originally listed at $270,000,  this home closed at the beginning of September of this year with a Sales Price of $258,000.  The seller had previously paid $200,500 in 2002.

For more information about homes for sale in Plantation Florida; whether you are buying or selling, contact me today at 954-850-2397.

View Fort Lauderdale MLS  listings for homes and condos for sale including short sales and bank foreclosures.

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October 12, 2009

1228 NE 12th Ave Fort Lauderdale | Mozaic Townhomes – Sold

Filed under: Florida real estate,Fort Lauderdale Condos,Just Sold,South Florida Real Estate,short sales — Tags: , , , , , , , — john sabia @ 4:57 pm

I sold this townhome  to very patient buyers.  Listed for sale as a short sale; the buyers originally contracted on this property in February of this year, and almost 6 months later, they finally closed at the end of August.

Mozaic Townhomes is located in the Lake Ridge area of Fort Lauderdale, and consists of 4 modern multiple story residences, all with walk-out terraces and 2 car garages.

1228 is a corner unit with lots of windows for natural light.  A European kitchen with stainless appliances.  Stained concrete floors on the first level, and carpet upstairs.  2 walk out terraces, one from the master bedroom and one off the loft area.

 1228 NE 12th Ave | Mozaic Townhome

Kitchen at Mozaic townhome - 1228 NE 12th Ave

Living Area - Mozaice Townhome

Master bedroom

Back yard at Mozaic Townhome

 Originally listed at $225,000, after many months of negotiating with the lenders, the Closed Sales Price was $232,000.  The seller had previously paid $680,000 in 2007.  Well worth waiting for!

The other corner (also a short sale), 1234 NE 12th Ave sold in June of this year for $265,000.

For more information about homes and townhomes for sale in Fort Lauderdale including Victoria Park homes and townhomes for sale, contact me today at 954-850-2397.

View Fort Lauderdale MLS available property listings for sale including homes, condos, townhomes and lofts.

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October 4, 2009

Fort Lauderdale Real Estate Market Report | August 2009

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report,Real Estate News,South Florida Real Estate,foreclosure properties,short sales — Tags: , , , , , , — john sabia @ 5:10 pm

View | Ritz Carlton Fort Lauderdale FloridaThe Fort Lauderdale Real Estate market report- August 2009 reports positive numbers for closed sales and pending sales for both single family and condominium/ townhomes and a decline in inventory.  Short Sales and bank foreclosures still make up a large percentage of closed sales.

Closed Sales for Single Family homes were up 11% in August as compared to July and up 28% from same time last year.  43% of these sales were classified as REO bank foreclosures in Fort Lauderdale.

The Average Sales Price for Single Family homes in August was down 3% from July and down 29% from August 2008.

The Median Sales Price in August remained the same as July and was down 26% from same period last year.

Pending Sales for Single Family homes were up 12% from last month and up 49% from August 2008.

Available Inventory for Single Family homes decreased 7% in August as compared to July and down 45% from August 2009.  Supply of inventory decreased in August to 8 months from 10 months in July and down 57% from August 2008. Thirty-Five percent of available inventory are classified as either home foreclosures or short sales.

Closed Sales for Fort Lauderdale Condos and townhomes were up 16% in August as compared to July and up 28% from August 2008.  Of these closed sales in August, 54% were classified as Fort Lauderdale condo foreclosures.

The Average Sales Price for Condos in August was up 8% from last month and down 24% from August 2008.

The Median Sales Price remained the same in August as compared to July and down 26% from same period last year.

Pending Condominium Sales were up 16% in August over July and up 83% from August 2008.

Available Inventory for Condos/Townhomes in August were down 5% from July and down 32% from same period last year.  Supply of Condo/Townhome inventory is at 14 months, just up 2 months from July and down 57% from August 2008.

Overall, the real estate market appears to continue to show good signs of recovering.  We have many more months of positive numbers than negative and supply of homes for sale is significantly down from 1st quarter 2009.

Interest rates are still attractive and the first time homebuyer tax credit for first time home buyers is expiring December 1st.  Efforts are underway to extend the tax credit.

For more information about buying or selling residential real estate in Fort Lauderdale, Florida, contact me today at 954-850-2397.

Buyers can begin their home search online by searching Fort Lauderdale MLS available property listings for sale including short sales and foreclosures as well as tips and useful information for buying a home in Fort Lauderdale.

Fort Lauderdale Real Estate Market Report – July 2009

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