Single family waterfront homes with ocean access are extremely popular properties in our marketplace. As we approach the Fort Lauderdale International Boat show the number of inquiries for these properties steadily increases. Everyone loves a good waterfront view, but the requirements for boaters are much more specific. Factors like the type of ocean access, water frontage, canal width and water depth are only some of the factors that weigh into a buyer’s decision of which properties to consider purchasing.
The communities of Northeast Broward county with ocean access for boaters include Fort Lauderdale, Pompano Beach, Lauderdale-by-the-Sea, Lighthouse Point, Deerfield Beach and Wilton Manors. Here you will find every conceivable type of waterfront with options for all boaters in a large price range. Our latest waterfront market report provides buyers and sellers with the facts, trends and statistics surrounding this very popular real estate segment.
“One of the most competitive segments in our real estate market is Single Family Waterfront Homes with Ocean Access. Below the median sales price of $975,000 there are only 4.5 months of inventory.”
Prices and Inventory
Listing prices in this segment range from $339,000 behind a fixed bridge in Tarpon River to a $32,000,000 point lot estate on the New River in the Las Olas Isles neighborhood of Fort Lauderdale. The current median list price is $1,795,000 and the median sales price over the last 6 months is $975,000. This spread between list prices and sales prices demonstrates how top heavy our market is with much more inventory in the higher price ranges. Above the median sales price of $975,000 there is currently 14.5 months of supply, whereas below this median price Broward county only has 4.4 months of supply. Because of these extremely low inventory levels in the lower half of the market this is the hottest and most competitive segment in Broward county right now.
Median Price History
Waterfront properties have appreciated nicely over the past five years. The post recession double-digit appreciation is a thing of the past, but ocean access property in Broward County has appreciated on average about 25% since 2015. Given current inventory levels and the overall strength of the economy, there is good reason to expect this trend will continue for years to come. After all, they’re not making any more waterfront property, not in South Florida anyway. The following graph displays median price appreciation over the past 5 years. Note: Lauderdale-by-the-Sea, Deerfield Beach and Wilton Manors do have ocean access property, but not enough data points to demonstrate a trend.
Conclusion
Waterfront property has always been desirable in South Florida, especially for boaters and ocean enthusiasts. The coastal communities of Northeast Broward County offer the most diverse selection of ocean access real estate available in a variety of price ranges. For more information about buying boating property in our area, please read our Boater’s Guide to Buying a Home and contact one of our waterfront agents for assistance.
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