Fort Lauderdale Condos & Townhomes - 3rd Quarter 2013 Market Report

Posted by John Sabia on Friday, November 8th, 2013 at 11:38pm.

photo of condos in Fort Lauderdale, FloridaThe Condo & Townhome market for Fort Lauderdale Beach, Southeast and Northeast neighborhoods show October being a Neutral Market (3-6 months of inventory).  977 properties were available for sale, up 3.9% from last month and down 4.2% compared to October 2012.  Closed Condo/Townhome Sales totaled 164 units sold, up 3.8% from last month and down 1.2% from same period last year. 201 condos/townhomes went Under Contract, up 8.6% from September and up 11% compared to October 2012.

In October, the Average Median Sales Price was $226,000, down 12.7% from last month and up 16.5% from same time last year.  The Average Price For Sale was $539,000 up 1.3% from September and down 0.6% from last year.  Average Sales Price for a condo/townhouse was $308,000, down 1.9% from last month and up 10.4% from last year.

The total Months of inventory has trended downward throughout the year with some up/down swings here and there.  Based on closed sales, October's availble inventory level was at 6 months (neutral market), up 0.1% from last month and down 3% from last year.

Overall, the Fort Lauderdale Condo market is healthy and I suspect going into the winter months, we will see inventory continue to decrease as a result of pending and closed sales increasing due to the demand for properties from out of state and international buyers seeking a much warmer climate.

Condo / Townhome Report - 3rd Quarter 2013
Fort Lauderdale Condo/ Townhome Sales    Quarter 3     Quarter 2     Quarter 1     2013 YTD*     2012 Total  
 Total Condos Sold   559  597  539  1,853  2,010
 Average Sales Price $335,000  $333,000  $320,000  $327,000  $288,000
 Median Sales Price  $243,000  $245,000  $222,000  $235,000  $211,000
 Sales Price / List Price %  94%  94%  93%  93%  93%
 Days On Market  92  88  99  92  100
 Months of Available Inventory  5  5  6  5  7

*includes September's numbers

Quarter 3 - Top 5 Condo Sales over $1 Million

  1. L'Hermitage II - 3200 N Ocean Blvd, PH2709 - $3,461,000 (public record)
  2. The Palms Tower II - 2110 N Ocean Blvd, #25D - $2,650,000
  3. Coconut Grove - 1200 Holiday Drive, #1101 - $2,500,000
  4. Alhambra Place - 209 N Birch Rd, #902 - $1,860,000
  5. Las Olas Beach Club - 101 S Ft Lauderdale Beach Blvd, #1905 - $1,680,000

Quarter 3 - Top 5 Condo Sales $500,000 - $999,999

  1. Le Club International - 2845 NE 9th St, #903 - $996,000
  2. Le Club International - 2485 NE 9th St, #1101 - $925,000 
  3. Hemingway Landings - 1500 SE 12th St, #3B - $920,000
  4. L'Hermitage I - 3100 N Ocean Blvd, #907 - $915,000
  5. L'Ambiance - 4240 Galt Ocean Drive - $900,000

Quarter 3 - Top 5 Condo Sales Under $500,000

  1. WaterGarden - 347 N New River Drive E, #910 - $495,000
  2. Sea Ranch Club A - 5100 N Ocean Blvd, #805 - $490,000
  3. Point of Americas I - 2100 S Ocean Lane, #1401 - $486,000
  4. Sea Ranch Club C - 4900 N Ocean Blvd, #917 - $485,000
  5. The Seasons - 209 N Ft Lauderdale Beach Blvd, #15B - $481,500

Quarter 3 - Top 6 Condo Sales Downtown

  1. Las Olas Grand - 411 N New River Drive E, #2006 - $1,300,000
  2. Colee Hammock townhome - 20 SE 10th Ave - $1,250,000
  3. Las Olas RiverHouse - 333 Las Olas Way, #3907 - $1,165,000
  4. Venice Harbor townhome - 91 Isle of Venice Dr - $1,128,233
  5. Maison Blanc - 1760 E Las Olas Blvd, #400 - $1,125,000
  6. Beverly Heights townhome - 28 SE 10th Ave - $1,125,000

*Information taken from Fort Lauderdale Area Association MLS.  All information believed accurate but not warranted. Sales Prices are Public record.

For more information about buying or selling condos in Fort Lauderdale, please contact John Sabia at 954.850.2397 today.

John Sabia

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