Some of my international buyers have asked for statistics on the local condo market. We are going to offer this information on a regular basis for different oceanfront communities in South Florida.
Below is a look at Hollywood and Hallandale Beach condos from 2006-2007. The inventory appears to be declining as sales have been consistent with a slight increase in December.
The next chart will provide you with average cost per square foot. This data represents all waterfront condos in this area, both intracoastal and oceanfront. Researching back to 2005, if you average the last three months of 2005, price per square foot was $435. If you average the last three months of 2006, price per square foot was averaging $419. Averaging the last three months of 2007, price per square foot was averaging $378. Translating that:
Example:
In 2005
2000 square foot waterfront condo at $435 square foot: $871,333.
In 2006
2000 square foot waterfront condo at $419 square foot: $838,000.
In 2007
2000 square foot waterfront condo at $378 square foot: $756,000.
So what does all this mean? Buying opportunities.
Tags: buying opportunity, ft.lauderdale oceanfront condo, hollywood and hallandale beach oceanfront condo statist, oceanfront condo deals
