This special Local Market Watch report reveals what those of us in the business already know, Fort Lauderdale Beach is hot! Despite higher inventory levels and competition from new construction in recent years, the waterfront condominium market in Fort Lauderdale has remained exceptionally strong. With limited room for further development and high confidence in the overall economy this local beach market should continue its current trend towards higher median prices and lower inventory levels.
This special report includes all waterfront condominiums in the city of Fort Lauderdale east of the Intracoastal Waterway. Report Date: April 18, 2018
- Inventory levels remain slightly on the high side at 10.6 months of supply, with the market absorbing 48 units per month. However, considering a slowing of new construction and high consumer confidence we should expect inventory levels to decrease in the near future.
- 288 waterfront units were sold in the last 6 months, a 22% increase over the same period last year.
- Median sales price over the last 6 months is $499,000, a 16.7% increase over the same period last year.
- Units are selling for $351 per square foot, a 12.5% increase over last year.
- Median days on market is only 78, down from 87 last year, a 10.3% decrease.