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Fort Lauderdale Real Estate Update
Fort Lauderdale Real Estate Update

 
Thursday, May 08, 2014
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The Fort Lauderdale Luxury Real Estate Marketplace is booming and some interesting, yet largely unsurprising, statistics have been recently released regarding the pace of sales in the area.  Sales of lower priced condominiums under $100,000 are down by 19.1% year over year, while sales in the upwards of $1 million category are up 37.5%for the same period. Luxury condominiums are selling rapidly and the demand for them on the market has not slowed. Vacation home buyers may be one element to this sustained demand as vacation home sales are up by 29.7%. Prices are continuing to rise and inventory is slightly increasing, though still below a healthy market. Below are some area luxury condominium sales updates for both preconstruction and existing condominiums.
Resale Sales Update
La Rive – 2 closed sales $1,650,000 - $650,000. NO ACTIVE LISTINGS
                1 pending sale at $1,395,000
Le Club – 1 closed sale for $1,075,000. NO ACTIVE LISTINGS
                 7 pending sales $1,700,000 - $975,000
Las Olas Beach Club – 5 closed sales $2,350,000 - $1,250,000, 1 foreclosure sold for $751,000
                 1 pending sale $2,199,000
Palms -     4 closed sales $2,850,000 – 1,300,000
                 3 pending sales $2,495,000, $2,150,000 and 1 foreclosure pending at $751,000
Presale Sales
Aquavita – 22 unit development, 16 pending sales - $2,284,800 - $1,009,635
Aqualuna – 16 unit development, 5 pending sales - $2,001,000 - $1,656,000
Lots of new construction projects - pre-sales are going quickly.

Aquavita – 22 unit development, 16 pending sales - $2,284,800 - $1,009,635

Aqualuna – 16 unit development, 5 pending sales - $2,001,000 - $1,656,000

Adagio on the Bay, Riva, Paramount, The Conrad,  and more....

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