Fort Lauderdale Waterfront Home Sales

Posted by Eric Miller on Tuesday, October 11th, 2011 at 9:23am.

Fort Lauderdale Real Estate Season 

Fort Lauderdale Boat Show is just a few weeks away and for many this marks the end of slower summer business months in Fort Lauderdale Real Estate. However, this year there appears to be a media disconnect as many Fort Lauderdale Realtors will tell you they have stayed busy throughout the summer month in Fort Lauderdale Real Estate. From Fort Lauderdale Condominiums to Fort Lauderdale Waterfront Homes the numbers as we start of the real estate season appear to show that in many areas of the Fort Lauderdale Real Estate market the market is very stable.

Ft Lauderdale Waterfront Homes 

Fort Lauderdale Waterfront Homes are selling. In the last 30 days (September is normally the slowest month for Ft Lauderdale Real Estate) the Fort Lauderdale Real Estate market has seen the closing of 15 Ft Lauderdale Waterfront homes. In order to better understand the market for Ft Lauderdale Waterfront it is important to look at some of these recent sales. On October 7, 2011 a home sold on Rivera Isle south of Las Olas with 150 feet of prime waterfront. With an original asking price of $7,995,000 the home sold for $5,000,000, even though the home sold for a 37% discount to its original asking price, there had been numerous price adjustments since it first came on the market in 2001. Another Ft Lauderdale Waterfront home sold in the Rio Vista neighborhood of Ft Lauderdale, on South East 7th Street, This home with 150 feet of waterfront as well sold in just 56 days on the market for $3,100,000, a 21% discount to asking price. This Ft Lauderdale Waterfront Home was over 5000 sq feet and sold for just over 600 per square foot.

Fifteen Ft Lauderdale Waterfront Closings in 30 days 

The third sale we are looking at to demonstrate the activity in the market for Fort Lauderdale Waterfront homes is a home on Laguna Drive in Harbor Beach. With 125 feet of prime waterfront this home sold for $1,850.000 after being on the market for 118 days, and selling at 5 % off of the asking price. The home was on the market at one time for $3,900,000. It is clear that as prices have come down realistic sellers of Fort Lauderdale Waterfront homes are finding realistic buyers. As we watch this trend continue and with very few Fort Lauderdale Waterfront homes coming on the market we expect this to be a season of tightening prices and some higher prices.

Planning a move in Fort Lauderdale? Thinking about a Ft Lauderdale Waterfront purchase? Reach out to Eric Miller and Associates today to start the ground work for the purchase of your dream Ft Lauderdale Waterfront home.

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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