May, 2008

So, you're planning to buy a Ft. Lauderdale Luxury Home, sell a Ft. Lauderdale Luxury Home, or you're just interested in checking out the Ft. Lauderdale Luxury Real Estate Market and Broward Luxury Real Estate Market. 

I'm here again with my monthly installment of the Broward County Luxury Real Estate Market Report.

Of course, we know that price alone doesn't truly define "Luxury", but we'll take a look at the $1,000,000+ Broward County Luxury Real Estate Market.

During the month of May, in Broward County, 30 Single Family Homes sold at final sales prices of $1,000,000 and above.  They sold at final sales prices (NOT LISTING PRICES) between $1,000,000 and $15,500,000.

The home sold for $15,500,000 is a direct Intracoastal front home with 320' of Waterfront located at 1 Isla Bahia Dr. in the Ft. Lauderdale subdivision of Harbor Beach, a 16,400 square foot home with 6 Bedrooms, 8 Full Baths, and 3 Half Baths.

Of the 30 homes sold, 15 are Homes with Ocean Access. 

Click to view pictures of and details about the 30 Luxury Homes sold in Broward County.

These homes are located in Coral Springs, Davie, Ft. Lauderdale, Hollywood, Lauderdale by the Sea, Lighthouse Point, Parkland, Plantation, Pompano Beach, Southwest Ranches, and Weston.

The 30 homes sold are located in the Subdivisions of Bermuda Riviera, Blackhawk Reserve, Bonaventure, FL Fruit & Lands Company, Grand Cypress, Harbor Beach, Harbor Islands, Hawk's Landing, Hillsboro Isles, Hillsboro Shores, Hollywood Oaks, Idlewyld, Isla Bahia, Lauderdale Harbors, Poinciana, Rio Vista, Riviera, Weston Hills Country Club, Silver Shores, Sunshine Ranches, The Falls at Heron Bay, Venetian Isles, Windmill Lake Estates, and Windmill Ranch Estates.

Click to search Ft. Lauderdale Luxury Homes for Sale and Ft. Lauderdale Waterfront Homes for Sale.

Recent Luxury Home Sales in Broward have remained stable without significant changes in volume. View the Table below to compare Broward Luxury Home stats in recent months.

Although Luxury Home sales here are not as strong as they were during the "boom years" (peak year was 2005), the fact that recent sales have remained stable is music to the ears of savvy Buyers who understand that South Florida Luxury Real Estate (particularly Waterfront) remains in demand and is a great Investment that has not been as severely impacted as some segments of the market.

Ft. Lauderdale is known as the "Venice of America" as well as the Mega Yacht Capital of North America.  We are a City of islands held together by canals, rivers, bays and waterways hundreds of miles long.  Many Fort Lauderdale residents and visitors enjoy boating in their speedboats, enjoying a fishing charter, or cruising the coastline by yacht.

A related tidbit:  according to a 2007 report from the National Association of Realtors, Florida remains #1 in sales to International Buyers, accounting for 26% of all International home buyers.

Are you wondering how Inventory in the Luxury Home Market compares to the rest of the market? 

In Broward County, there are currently 17,181 Single Family Homes listed for Sale in all price ranges.  Of the 17,181 homes listed for sale, 1,452 of those homes are listed for sale at $1,000,000 and higher.  Of the 1,452 homes for sale, 441 are located in Ft. Lauderdale, so Inventory in the Luxury market is SIGNIFICANTLY lower than the rest of the market.  In viewing these stats, I think you can probably see how the issue of supply and demand in the Ft. Lauderdale Luxury Home market and the Broward Luxury Home market helps to maintain its' strength. 

When you're considering buying or selling a home, it's necessary to "drill down" and correctly evaluate stats for your specific segment of the market.  Though you often hear Media reports regarding the state of the current market, you need to be aware that Media often paints issues with a very broad brush.  Real Estate is VERY local and conditions usually vary significantly throughout various Cities, Subdivisions, price ranges, home types, etc.

I will be preparing a separate report for Luxury Condos sold in Broward and will post it shortly.

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Vickie Arcuri, Realtor®
EWM Realtors
1700 E. Las Olas Blvd., Suite 103
Ft. Lauderdale, FL  33301
Cell:  (954) 708-9309
vickie@vickierealestate.com  
Fort Lauderdale Real Estate for Sale

Contact me if you're interested in buying or selling Ft. Lauderdale Real Estate for Sale, Broward County Real Estate for sale, Ft. Lauderdale Beach Homes for Sale, Ft. Lauderdale Condos for Sale, Homes for Sale near Ft. Lauderdale Beach, Broward County Luxury Homes for sale, Broward County Waterfront Homes for sale, Ft. Lauderdale Luxury Homes for Sale, Ft. Lauderdale Luxury Real Estate for Sale, or Ft. Lauderdale Waterfront Homes for Sale.  I am available to assist you or someone you know with:

• Home Purchases and Home Sales
• Home Rentals
• Refinancing resources
• Ft. Lauderdale Luxury Real Estate Services
• Corporate Relocation & Home Purchases or Rentals in South Florida
• Florida Professional Athlete Relocation & Home Purchases or Rentals
• Relocation home purchases locally or if you are purchasing outside of Florida or outside of our local area in Florida, I can refer you to an Agent to assist you with your home purchase in the area where you're moving, including International areas
• Investment property purchases