Fort Lauderdale Waterfront Market Report - Year to Date

Posted by John Sabia on Thursday, October 13th, 2011 at 7:30pm.

Waterfront Homes in Fort Lauderdale

Inventory for Fort Lauderdale waterfront homes for sale is down 23.7% year-to-date.  Closed Sales are up 60% and Pending home sales are down 36.7%. [caption id="attachment_678" align="aligncenter" width="300" caption="For Sale / Sold / Pending Sales Year-To-Date"]For Sale/ Sold/ Pending Sales[/caption] Average Price per square foot with the exception of July has remained constant in the low to high $300's, down 3.6% year-to-date. [caption id="attachment_679" align="aligncenter" width="300" caption="Waterfront Homes Average price per square feet"]Average price per square foot for waterfront homes[/caption] Average Days on the Market has reduced by 48.4% to just over 4 months.  Sales Price versus Listed Price has remained in the high 80%range up 4.7%.  (does not take into account price reductions). [caption id="attachment_680" align="aligncenter" width="300" caption="Average Days on the Market"]Average Days on the market[/caption] The Average Listed Price for a waterfront home was just under 3 Million, up 8.4% year-to-date.  The Average Sold Price was under $1.3 Million, down 38.9% year-to-date.  The Median Sales Price ranged from $748,000 to 1,035,000, down 25.3% year-to-date. [caption id="attachment_681" align="aligncenter" width="300" caption="Average Sales Price vs Closed Sales Price"]Average Price For Sale vs Sold [/caption] [caption id="attachment_682" align="aligncenter" width="300" caption="Median Sales Price"]Median Sales Price[/caption] Months of Inventory based on Closed Sales are down 52.3% with an 11.4 months supply of waterfront homes for sale in August. [caption id="attachment_683" align="aligncenter" width="300" caption="Months of Inventory"]Months of Inventory[/caption] Waterfront home Foreclosures were less than 1% of inventory and Waterfront Short Sales were approximately 5- 10% of inventory.  Not a significant factor. [caption id="attachment_684" align="aligncenter" width="300" caption="Foreclosure Waterfront Homes"]Foreclosure waterfront homes in Fort Lauderdale[/caption] [caption id="attachment_685" align="aligncenter" width="300" caption="Short Sale Waterfront Home"]Short Sales[/caption] Comparing August 2011 vs August 2010:
  • Inventory is down 23.5%
  • Closed sales are up 14.3%.
  • Median Price is up 25.2%.
  • Months of Inventory is down 33.1%.
In summary, the waterfront home market appears to be trending favorably. Sales and Pending Sales are strong, while inventory has shrunk significantly. Months of inventory is above the ideal 6-8 months, however, it is going in the right direction. Sellers need to keep in mind, pricing a home correctly and monitoring the activity is key to a successful outcome.  Buyers while enjoying lower priced homes may find competition for the best priced homes. 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. Return to Fort Lauderdale Real Estate

John Sabia

2 Responses to "Fort Lauderdale Waterfront Market Report - Year to Date"

Fort Lauderdale Home Sales | Market Update Year to date « Fort Lauderdale Real Estate Blog wrote: [...][...] Fort Lauderdale Waterfront Market Report – Year to Date (johnsabia.com) [...][...]

Posted on Thursday, October 20th, 2011 at 3:46pm.

Fort Lauderdale Condos | Year To Date Market Report « Fort Lauderdale Real Estate Blog wrote: [...][...] Fort Lauderdale Waterfront Market Report – Year to Date (johnsabia.com) [...][...]

Posted on Thursday, October 20th, 2011 at 4:51pm.

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