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-Mar | 10-Apr | 10-May | 10-Jun | 10-Jul | 10-Aug | 10-Sep |
For Sale | 1851 | 1825 | 1819 | 1884 | 1907 | 1907 | 1936 |
New Listing | 462 | 486 | 472 | 508 | 476 | 498 | 437 |
Sold | 258 | 242 | 252 | 253 | 237 | 239 | 202 |
Pended | 320 | 364 | 264 | 294 | 267 | 320 | 323 |
Months of Inventory (Closed Sales) | 7.2 | 7.5 | 7.2 | 7.4 | 8 | 8 | 9.6 |
Months of Inventory (Pended Sales) | 5.8 | 5 | 6.9 | 6.4 | 7.1 | 6 | 6 |
Absorption Rate (Closed Sales) % | 13.9 | 13.3 | 13.9 | 13.4 | 12.4 | 12.5 | 10.4 |
Absorption Rate (Pended Sales) % | 17.3 | 19.9 | 14.5 | 15.6 | 14 | 16.8 | 16.7 |
Avg. Active Price | 1246 | 1265 | 1237 | 1211 | 1174 | 1141 | 1145 |
Avg. Sold Price | 522 | 438 | 455 | 480 | 484 | 456 | 522 |
Avg. Sq. Ft. Price | 202 | 170 | 183 | 178 | 187 | 177 | 187 |
Sold/List Diff. % | 91 | 93 | 90 | 90 | 92 | 91 | 91 |
Days on Market | 91 | 102 | 99 | 98 | 96 | 98 | 91 |
Median | 336 | 320 | 310 | 340 | 330 | 320 | |