Fort Lauderdale Waterfront Homes - Time is Money

Posted by Eric Miller on Sunday, October 24th, 2010 at 7:24am.

Fort Lauderdale Waterfront Homes really can prove to any Ft. Lauderdale home buyer that time is money. In this case we are talking about the time it will take to get your from your Fort Lauderdale Waterfront home by boat to the intracoastal and out to the open waters of the Atlantic.

The closer you are to the either of the area inlets, the more expensive you can expect your waterfront home to be. The northern area inlet is the Hillsboro Inlet; the Fort Lauderdale area inlet is at Port Everglades.

The residential area closest to Port Everglades, is Harbor Beach and this area does feature some of the most expensive waterfront homes in the area. The current average listing price of waterfront homes for sale in this area is over $5,000,000. Closer to the Hillsboro Inlet the average asking price of a waterfront home is just over $3,500,000.

Travel just 2 miles inland from either of these primary water front areas and that old adage “Time is Money” clearly shows itself. No fixed bridge waterfront homes starting at just over $700,000, further inland no fixed bridge waterfront homes can occasionally be found below $500,000

At Eric Miller and Associates we consider a Fort Lauderdale waterfront home to be one the best real estate investments in the Fort Lauderdale Real Estate market, and when its time to start looking we are always here to help.

The following market analysis contains information on only Broward County Waterfront Homes from March 2010 through September 2010.

BROWARD COUNTY WATERFRONT HOME SALES

Date
10-Mar10-Apr10-May10-Jun10-Jul10-Aug10-Sep
For Sale1851182518191884190719071936
New Listing462486472508476498437
Sold258242252253237239202
Pended320364264294267320323
Months of Inventory (Closed Sales)7.27.57.27.4889.6
Months of Inventory (Pended Sales)5.856.96.47.166
Absorption Rate (Closed Sales) %13.913.313.913.412.412.510.4
Absorption Rate (Pended Sales) %17.319.914.515.61416.816.7
Avg. Active Price1246126512371211117411411145
Avg. Sold Price522438455480484456522
Avg. Sq. Ft. Price202170183178187177187
Sold/List Diff. %91939090929191
Days on Market911029998969891
Median336320310340330320
 

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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