New Construction Homes

Fort Lauderdale
New Construction Homes

Welcome to our July / August 2016 post on Fort Lauderdale new construction homes for sale…

Search New Construction Homes for Sale

From new construction single family homes under to new construction waterfront and luxury waterfront homes priced from $2 Million or more – you will be impressed at the range of homes for sale in our new construction market.

Key Statistics for Buyers / Sellers

  • Prices from under $220,000 to $32 Million

Median Prices

  • List Price $2,895,000
    – List Price Waterfront Homes $4,997,500

    – List Price Non-Waterfront Homes $1,049,000
  • Sales Price last 90 Days $865,000
    – Waterfront Homes $3,275,000
    – Non-Waterfront Homes $462,500
  • Sales to List Price 94%
  • Days on Market 139 Days

With Fort Lauderdale’s warm weather, beautiful “Blue Ribbon” Beaches and all the vibrant entertainment options – its no wonder we have some of the finest new construction homes for sale in Florida. 

Artists rendering of a new construction waterfront home for sale in Fort Lauderdale
Artists rendering of a new construction waterfront home for sale in Fort Lauderdale

New Construction Homes
Prices by Bedroom

Here is our guide to Fort Lauderdale New Construction Homes for sale based on median prices by bedroom

Beds/Baths SF/FF List Price LP$/SqFt
3 / 3 3,491 $774,900 $320
4 / 3 4,554 $1,292,000 $440
5 / 5 6,914 $4,800,000 $790

We can see from this report that the median price for:

  • 3 Bedroom New Construction Homes for sale is $774,900– this being for a 3 bedroom 2 bathroom home of 3491 square feet with a list price to square foot price of $320.00  This is up from our last post when the median was 684,990 – this being for a smaller 3 bedroom 2 bathroom home of 2250 square feet with a list price to square foot price of $302.00
  • 4 Bedroom Luxury New Construction Homes for sale is $1,292,000  this being for a 4 bedroom 4 bathroom home of 4554 square feet with a list price to square foot price of $403.00 – this is down ever so slightly from our last post when the median was $1,299,000 – this being again for a smaller 4 bedroom 4 bathroom home of 3458 square feet with a list price to square foot price of $403.00
  • 5 Bedroom  Luxury New Construction Homes for sale is $4,800,000  this being for a 5 bedroom 5 bathroom home of 6914 square feet with a list price to square foot price of $790.00 – this is up from our last post when the median was $3,900,000 – this being for a smaller 5 bedroom 5 bathroom home of 5250 square feet with a list price to square foot price of $795.00
View of the most expensive Fort Lauderdale new construction home for sale here in Las Olas
The most expensive Fort Lauderdale new construction home for sale

New Construction Homes
Market Analaysis

This month there are 73 x New Construction Fort Lauderdale Homes for Sale – as per the MLS!

This is up ever so slightly from 72 new construction homes for sale as in our last post for November/ December 2015, which in turn was up from 66 new construction homes in our prior report for August / September 2015 which in turn was up from 57 new construction homes for sale as in our last update for June / July 2015.

As one of our companies top Fort Lauderdale Realtors I can tell you there is probably twice this amount if you include homes in the planning and pre-construction stage.

There are 289 new construction homes for sale as listed in the MLS if we look at Greater Fort Lauderdale – up from 232 in our last post and 204 in our prior post which in turn was up from 188 in the post before!

The market analysis report for the 73 x Fort Lauderdale new construction homes for sale is presented below:

 $$ Beds/Baths SF/FF List Price
High 7 / 9 17,876 $32,000,000
Low 3 / 2 1,338 $219,900
Avg 5 / 5 7,041 $4,277,329
Med 5 / 5 6,272 $2,895,000

We can see that the median price for a Fort Lauderdale new construction home for sale is $2,895,000this being for a 5 bedroom 5 bathroom luxury home of 6272 square feet.

In our last post in the median price for a Fort Lauderdale new construction home for sale was $3,495,000 – this being for a 5 bedroom 5 bathroom luxury home of 4644 square feet.

It is important to note that the median price has softened, when the median price is for a larger home.

A home of 6272 square feet vs a home of 4644 square feet – a difference of over 1600 square feet!

New Construction
Square Foot Prices

Here is our square foot summary report for Fort Lauderdale new construction homes for sale.

 $$ LP$/SqFt
High $2,009
Low $137
Avg $681
Med $646

We can see from this report that the median square foot price for a Fort Lauderdale new construction home is $646.00 per square foot. 

Again it is important to note that median square foot prices for new construction homes have also softened.

In our last update for November / December 2015 the median square foot price for a Fort Lauderdale new construction home was $676.00 – per square foot.

Note: the highest square foot price for a luxury new construction home at $2,009.00 per square foot.

Greater Fort Lauderdale
Homes for Sale

The number of New Consdtruction Fort Lauderdale Homes for Sale increases even more if we look at what is known as “Greater” Fort Lauderdale.

Greater Fort Lauderdale Homes for sale includes homes for sale in both Fort Lauderdale and cities including: Lauderdale by the Sea, Pompano, Oakland Park and Wilton Manors.

View of a non-waterfront new construction home for sale here in Fort Lauderdale
View of a non-waterfront new construction home for sale here in Fort Lauderdale

New Construction Homes
Price Analaysis

Here is the breakdown of ALL Fort Lauderdale new construction homes for sale by price – includes both waterfront and non-waterfront homes.

Price Range Quantity
Under $549,999 5
$550,000 – $599,999 1
$600,000 – $699,999 2
$700,000 – $799,999 7
$800,000 – $899,999 1
$900,000 – $999,999 0
$1,000,000 or over 57
Total 73

We can see from this report the number of new construction Fort Lauderdale homes for sale in each of the above price ranges.

It is encouraging to note that we have a spread of inventory of new construction  homes for sale.

What is important to note however is that 57 of the 73 new construction homes (nearly 80% of all homes) are luxury Fort Lauderdale homes for sale priced at $1 Million or more.

New Construction
Waterfront Homes

Fort Lauderdale offers a great range of new construction waterfront homes for sale.

Here is the market analysis report for the 40 x Fort Lauderdale new construction waterfront homes for sale.

 $$ Beds/Baths SF/FF List Price
High 7 / 9 17,876 $32,000,000
Low 3 / 3 4,000 $1,285,000
Avg 5 / 6 8,963 $6,850,511
Med 5 / 6 8,402 $4,997,500

We can see that the median price for a Fort Lauderdale waterfront home for sale is $4,997,500this being for a 5 bedroom 6 bathroom home of 8402 square feet – up from our last post!

In our post for November / December the median price for a Fort Lauderdale waterfront home for sale was $4,600,000 – this being for a 5 bedroom 6 bathroom home of 5953 square feet

Important to note is that while the median price for waterfront homes is up this month – so is the median square footage of the homes for sale.

Up from 5953 square feet to 8402 square feet – an increase of nearly 2450 square feet.

New Construction
Non-Waterfront Homes

It is important to note when looking at Fort Lauderdale Homes for sale and prices that there is often a premium price wise attached to waterfront homes for sale.

Here is the market analysis report for the 33 x New Construction Fort Lauderdale non-waterfront homes for sale.

 $$ Beds/Baths SF/FF List Price
High 6 / 5 7,368 $2,895,000
Low 3 / 2 1,338 $219,900
Avg 4 / 3 4,071 $1,158,319
Med 4 / 3 3,646 $1,049,000

We can see that the median price for a New Construction Fort Lauderdale non-waterfront home for sale is $1,049,000this being for a 4 bedroom 3 bathroom home of 3646 square feet.

Important to note is that median prices for new construction non-waterfront homes for sale have been steadily rising…

Prices are now up by $310,000 or by over 40% since our post for March / April 2015. 

  • In our last post for November / December 2015 the median price for a New Construction Fort Lauderdale non-waterfront home for sale was $889,000 – this being for a 4 bedroom 3 bathroom home of 2660 square feet.
  • In our prior post for August / September 2015 the median price for a New Construction Fort Lauderdale non-waterfront home for sale was $799,000 – this being for a 4 bedroom 3 bathroom home of 2851 square feet.
  • In our earlier post for June / July 2015 the median price for a New Construction Fort Lauderdale non-waterfront home for sale was $759,000 – this being for a 4 bedroom 3 bathroom home of 3094 square feet.
  • In our earlier post for March / April 2015 the median price for a New Construction Fort Lauderdale non-waterfront home for sale was $739,000 – this being for a 4 bedroom 4 bathroom home of 2754 square feet.

Also important to note is that the size of non-waterfront new construction homes is also up – up from 2754 square feet to 3646 square feet an increase of nearly 900 square feet.

View from a new construction waterfront home recently sold here in Fort Lauderdale
View from a new construction waterfront home recently sold here in Fort Lauderdale

Fort Lauderdale Homes
New Construction Prices

Here is our pricing guide for Fort Lauderdale new construction homes based on sales over the last 90 Days / 3 months

 $$ Beds/Baths SF/FF Sale Price
High 6 / 7 8,660 $5,250,000
Avg 4 / 4 4,728 $1,500,727
Med 3 / 3 5,109 $865,000

We can see the median sales price for new construction homes sold in Fort Lauderdale over the last 3 months has been $865,000 – this being based on a 3 bedroom 3 bathroom unit of 5109 square feet.

In our last post for November / December 2015 the median price for new construction homes sold over the preceding 3 months was $2,775,000 – this being based on a 4 bedroom 5 bathroom unit of 4941 square feet.

Important to note is that the median price for new construction homes is well down from our last post – this is a direct reflection of the number of non-waterfront homes sales.

We discuss this in more detail below.

Waterfront Sales vs
Non Waterfront Sales

There have been 11 sales of new construction homes here in Fort Lauderdale over the last 90 days.

Of these 11 sales, 3 have been for waterfront homes and 7 sales have been for non-waterfront homes.

Our market summary report for these sales is presented below.

 Median Beds/Baths SF/FF Sale Price
W/Front 5 / 5 5,500 $3,275,000
NonW/F 3 / 2 3,099 $462,500

We can see from this report that the median sales data for both waterfront and non-waterfront sales.

  • For the 3 waterfront new construction home sales over the last 90 days the median sales price has been $3,275,000this being for a 5 bedroom 5 bathroom 5500 square foot home.
  • For the 7 non-waterfront new construction home sales over the last 90 days the median sales price has been $462,500this being for a 3 bedroom 2 bathroom 3099 square foot home.

Square Foot Prices

Here is our square foot summary report for ALL Fort Lauderdale new construction homes sold in the last 90 days

 $$ SP$/SqFt
High $744
Avg $364
Med $359

We can see from this report that the average square foot price for a Fort Lauderdale new construction home sold in the last 90 days has been $359.00 per square foot.

Again it is important to note the difference in square foot price between waterfront and non-waterfront home sales.

  • The median sales price to square foot price for waterfront home sales over the last 90 days has been $694.00 per square foot 
  • The median sales price to square foot price for non-waterfront home sales over the last 90 days has been $198.00 per square foot 

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for Fort Lauderdale new construction homes – based on the percentage of sales price to list price paid by buyers.

The market analysis report for this is presented below

$$  SP$/LP$
Avg 95%
Med 94%

We can see from this report that the average sales price to list price for Fort Lauderdale new construction homes is 95%.

What is important to note however is the median sales price to list price at 94% –  which is up from 93% in our last post!

This means if a Fort Lauderdale new construction home for sale is listed at $1 Million – then based on median sales data the home could be expected to sell for 94% of that amount or $940,000 – based on median MLS data.

Days on Market

Days on market for Fort Lauderdale new construction homes for Sale is an important indicator on how our real estate market is preforming.

Here is the market analysis report for Days on Market based on home sales over the last 90 days

 $$ Days on Market
Avg 210
Med 139

We can see from this report that the average days on market for a Fort Lauderdale New Construction Home for Sale is 210 days – up from 139 days in our last post!

More importantly is the median days on market at 139 days – which is down from 145 days in our last post!

Days on market is the time from when the home was listed for sale till the home sold AND closed.

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

Kevin Wirth Realtor

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