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TRENDS CORAL RIDGE THE LANDINGS BAY COLONY

2013

M I D -Y E A R

UPDATE

FORT LAUDERDALE BEACH


M I D -Y E A R U P DAT E

2013

And the Beat goes on The beat goes on as the Fort Lauderdale real estate market continues to be on the upswing. Inventory continues to drop and the number of sales continue to increase, resulting in price increases in most areas. The residential market over $1 million continues to thrive with a 30% increase in sales over the first six months of 2012. The months of available inventory have dropped to a 16-month supply, which represents a 40% decrease over the same time last year and a whopping 80% decrease from the high of a 78-month supply in December of 2008. As the new construction market tightens in Miami-Dade, much of the new condominium construction focus shifts to Fort Lauderdale. Look for announcements of new projects in the third quarter of 2013. In the meantime, expect prices of resale inventory to continue to rise through the rest of 2013.

954.592.2277 dstevick@onesothebysrealty.com

Presented by

Dennis Stevick, Dale Atkins & Michelle Howland Broker Associate I Estate Agents

954.592.3457 datkins@onesothebysrealty.com 954.658.4712 mhowland@onesothebysrealty.com

Luxury Sales Volume Miami-Dade & Broward Counties Single Family Homes

# OF TRANSACTIONS

Sales Over $1 Million

Condos

Sales Over $5 Million

Sales Over $10 Million

1500

70

15

1125

52.5

11.25

750

35

7.5

375

17.5

3.75

0

2012

2013

0

2012

2013

0

2012

2013

The super luxury market continued its rise during the first half of 2013. Residential properties in Miami-Dade and Broward closing over $1,000,000 or higher saw an increase of 36% in number of transactions. Those selling over $5,000,000 increased by 24%. The real standout player was the ultra-prime properties over $10,000,000, which saw an impressive 50% increase in transactions with 15 properties over $10,000,000 closing in the first six months of this year, compared to 10 during the same time in 2012.


IN DEPTH COMMUNITY PROFILE

Coral Ridge,

Coral Ridge Country Club

All Properties

Single Family Homes ($1M+)

# of Transactions

Average Sales Price

Median Sales Price

Average $ / Sq Ft

Mid-Year 2012

12

$1,866,000

$1,500,000

$457

Mid-Year 2013

17

$1,668,943

$1,505,000

$394

42%

-11%

0.3%

-14%

Change

Coral Ridge and Coral Ridge Country Club are beautiful communities located along the intra-coastal waterway in NE Fort Lauderdale. These luxury residences feature Mediterranean, Contemporary and ranch style homes with numerous amentities, including waterfront, golf course, and riverfront locations all with scenic views. The neighborhoods are located between Sunrise and Commercial Blvd. along Bayview Dr, just west of the Intracoastal.

2806 NE 29 Street, Fort Lauderdale Offered at $1,349,000

Bay Colony, The Landings Bay Colony is one of Fort Lauderdale’s premier luxury, guard gated waterfront neighborhoods offering custom estates and homesites. The Landings is south of Bay Colony and features homes with scenic waterway views. These luxury Mediterranean, Contemporary and ranch style homes offer the beach within walking distance for that South Florida Lifestyle. Both Neighborhoods are located just north of Commercial Blvd along Bayview Dr.

All Properties

Single Family Homes ($1M+)

121 Bay Colony, Fort Lauderdale Offered at $3,500,000

# of Transactions

Average Sales Price

Median Sales Price

Average $ / Sq Ft

Mid-Year 2012

8

$1,671,750

$1,557,500

$359

Mid-Year 2013

5

$2,183,000

$2,500,000

$373

-38%

31%

61%

4%

Change

Fort Lauderdale Beach

All Properties

Condos ($1M+)

# of Transactions

Average Sales Price

Median Sales Price

Average $ / Sq Ft

Mid-Year 2012

25

$1,506,980

$1,350,000

$513

Mid-Year 2013

34

$1,503,341

$1,250,000

$453

36%

-0.2%

-7%

-12%

Change

Ft. Lauderdale boasts more than seven miles of sparkling beaches that offer residents and visitors opportunities for recreation, relaxation and enjoyment. The City’s awardwinning wavewall and signature beachfront promenade highlight Ft. Lauderdale’s world famous coastline, which is punctuated by an array of shops, restaurants, sidewalk cafes and entertainment venues. More than 15 years of successful redevelopment has helped transform Ft. Lauderdale Beach from a seasonal tourist spot to a year round, world class family resort destination.

1600 S Ocean Drive #2102, Fort Lauderdale Offered at $1,675,000


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TRENDS IS PROVIDED BY: Dennis Stevick, Dale Atkins & Michelle Howland Broker Associate I Estate Agents 954.592.2277 I 954.592.3457 I 954.658.4712 dstevick@onesothebysrealty.com datkins@onesothebysrealty.com mhowland@onesothebysrealty.com

onesothebysrealty.com

Source: Trendgraphix.com and Southeast Florida Regional MLS

This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, changes, including price, or withdrawal without notice. ©MMXIII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. An Equal Opportunity Company. Equal Housing Opportunity.


Trends Mid-Year 2013 Update