Category Archives: Real Estate News

Great Time to Buy Waterfront!

In my mind its a great time to look at Fort Lauderdale Waterfront homes for sale – especially if your looking at luxury waterfront homes.

Prices for Fort Lauderdale waterfront homes for sale “overall” are up by 15% from 2014

However median prices for Luxury Fort Lauderdale Waterfront homes in 2015 are down by $300,000 or 15%

And the months of supply (or how long luxury waterfront homes take to sell) is high!

Views from a luxury Fort Lauderdale Waterfront home for sale
Luxury Fort Lauderdale Waterfront home for sale

Waterfront Homes
Sales Prices Up 15%

Median Fort Lauderdale Waterfront home prices are up!

Here is our market summary report showing waterfront home sales for all of 2014 compared with waterfront home sales so far for 2015

Median  Beds/Baths SF/FF Sale Price
2014 3 / 3 2,408 $760,000
2015 3 / 2 2,210 $875,000

We can see from this report that:

  • In 2014 the median sales price for a Fort Lauderdale waterfront home sold was $760,000this being for a 3 bedroom 3 bathroom home of 2408 square feet.
  • So far in 2015 the median sales price for a Fort Lauderdale waterfront home sold has been $875,000this being for a 3 bedroom 3 bathroom home of 2210 square feet.

Thus overall median sales prices in 2015 have risen by $115,000 or 15% over those for all of 2014.

An important consideration however are the other median sales indicators for sales…

Median  SP$/SqFt SP$/LP$ Days on Market
2014 $320 93.5% 71
2015 $355 93.5% 76

We can see from this report that:

  • In 2014 the median: sales price to square foot price for a Fort Lauderdale waterfront home was $320.00  – with a median sales price to list price of 93.5% and a median of 71 days on market.
  • So far in 2015 the median: sales price to square foot price for a Fort Lauderdale waterfront home has been $355.00  – with a median sales price to list price of 93.5% and a median of 76 days on market.

We can see from this report that while the median sales price for Fort Lauderdale waterfront homes is up – so are the median sales prices per square footup $35.00 from $320.00 in 2014 to $355.00 so far in 2015!

Kevin Wirth Realtor

Buying / Selling
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Kevin Wirth – Realtor
954-459-0337 

Luxury Waterfront
Home Prices Down 15%

Luxury Median Fort Lauderdale Waterfront home prices are however down from 2014!

Here is our market summary report showing luxury waterfront home sales for all of 2014 compared with waterfront home sales so far for 2015 – this for being for waterfront homes over $1 Million.

 Median Beds/Baths SF/FF Sale Price
2014 4 / 4 4,011 $1,950,000
2015 4 / 4 3,550 $1,650,000

We can see from this report that

  • In 2014 the median sales price for a Luxury Fort Lauderdale waterfront home sold was $1,950,000this being for a 4 bedroom 4 bathroom home of 4011 square feet.
  • So far in 2015 the median sales price for a Luxury Fort Lauderdale waterfront home sold has been $1,650,000this also being for a 4 bedroom 4 bathroom home – a home of 3550 square feet.

Thus overall median sales prices in 2015 for luxury waterfront homes have dropped by $300,000 or 15% when compared to median sales price for all of 2014.

An important consideration however are the other median sales indicators for sales…

We can see from this report

 Median SP$/SqFt SP$/LP$ Days on Market
2014 $479 91% 112
2015 $506 91% 97

We can see from this report that:

  • In 2014 the median: sales price to square foot price for a Luxury Fort Lauderdale waterfront home was $479.00  – with a median sales price to list price of 91% and a median of 112 days on market.
  • So far in 2015 the median: sales price to square foot price for a Luxury Fort Lauderdale waterfront home has been $506.00  – with a median sales price to list price of 91% and a median of 97 days on market.

We can see from this report that the median sales price to square foot prices are upup $27.00 from $479.00 in 2014 to $506.00 so far in 2015!

So with square foot prices up – you may be asking what is my case for this being a great time to buy Fort Lauderdale waterfront homes –  especially luxury waterfront homes…

Months of Supply

A very important real estate indicator is months of supply or how long would all the Luxury Fort Lauderdale waterfront homes to sell based on current sales – this being for homes priced at $1 Million plus

Our summary chart for months of supply luxury Fort Lauderdale homes for sale is presented below.

 Mths Supply #
Homes for Sale 258
Sold Last 8 Months 137
Months Supply 15

There are currently 258 luxury Fort Lauderdale homes for sale (homes over $1 Million) – and 137 luxury homes have sold over the last 8 months.

This equates to approx 17 luxury home sales per month.

With 258 luxury homes for sale and given 17 luxury waterfront home sales per month the months of supply is 15 months

(258 / 17 = 15 months) – this is of course assuming no new listings comes into the market!

Kevin Wirth Realtor

My Thoughts / Summary

I firmly believe now is a great time for buyers of Fort Lauderdale waterfront homes for sale – especially luxury waterfront homes.

My case to a seller(s) would be as follows

  • Median prices for luxury waterfront homes so far in 2015 are down $300,000! – perception of falling prices sets the tone for the market!
  • The median sales to list price in 2015 is 91% not very good either!
  • Supply of luxury waterfront homes for sale is high at 15 months – around 5-6 months is considered by many experts to be “the” number
  • There are very real holding costs in keeping and maintaining a luxury homes – especially a waterfront home!

To buyers I would say – I believe that there are a large number of Fort Lauderdale waterfront homes that have “sat” / are sitting on the market  – homes where the owners want to or in some cases need to move on…

So my advice is plain:

  • To Buyers – go ahead and make offers and don’t be afraid to come in low – just make sure your offer is strong and presents a good “case” to the seller(s) including the points I outlined above!
  • To Sellers I would say look at the numbers, your pricing and your marketing – if your home has not got solid offers after 90 days then something needs working on!

I hope you have enjoyed my post on Fort Lauderdale Waterfront Homes for Sale  – Kevin Wirth Realtor – 954-459-0337

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