We have a fine range of Fort Lauderdale luxury condos and penthouses for sale – from waterfront units, to oceanfront units to units on the famous Galt Ocean Mile.
Key 2016 Statistics
for Buyers / Sellers (YTD)
- Median Sales Price $697,500 – down from 2015
- Median Sales to List Price 94% – down from 2014
- Median Days on Market 115 Days – p from 2014
Fort Lauderdale Luxury condo prices have declined in 2016!
The volume of Luxury condo sales is also well down from 2015!
Fort Lauderdale Luxury Condos
Median Prices 2006 – 2016
Here is our market summary report for Fort Lauderdale luxury condos for 2006 – 2016.
The report below shows median sales prices for luxury condos for these periods.
|2016||3 / 2||2,131||$697,500|
|2015||3 / 2||2,078||$715,000|
|2014||3 / 2||2,078||$715,000|
|2013||3 / 2||2,111||$720,000|
|2012||3 / 3||2,220||$700,000|
|2011||3 / 3||2,270||$640,000|
|2010||3 / 3||2,270||$640,000|
|2009||3 / 3||2,250||$625,000|
|2008||3 / 2||2,140||$685,000|
|2007||3 / 2||2,078||$665,000|
|2006||3 / 2||2,000||$650,000|
We can see from the graph above and this report how median sales price for luxury condos here in Fort Lauderdale languished in 2009, 2010 and 2011.
However in 2012 and in 2013 median prices rose steeply reflecting the recovery of the housing market here in Fort Lauderdale and across Florida.
Now in 2016 (YTD) median sales price have softened again – declining by 2.5% or just over $17,000.
The median sales price for a Fort Lauderdale Luxury Condo so far in 2016 has been $697,500.
In 2013 the median was $720,000 and in both 2014 and 2015 was $715,000.
Luxury Condos 2016 (YTD)
The market analysis report for luxury condos for 2016 (YTD) – those units sold till almost the end of November is presented below.
|High||5 / 6||19,000||$5,560,000|
|Avg||3 / 2||2,397||$867,278|
|Med||3 / 2||2,131||$697,500|
We can see from this report that the average price for a luxury condo sold here in Fort Lauderdale in 2016 was $867,278 – this being for a 3 bedroom 3 bathroom unit of 2200 square feet.
The average price for a luxury condo sold here in Fort Lauderdale in 2015 was higher at $890,198 – this being for a 3 bedroom 3 bathroom unit of 2200 square feet.
We can also see from this report that the median price for a luxury condo sold here in Fort Lauderdale in 2016 was $697,500 – this being for a 3 bedroom 2 bathroom unit of 2131 square feet.
The median sales price for a luxury condo sold in 2015 was also higher at $715,000 – which was for a 3 bedroom 2 bathroom unit of 2078 square feet.
Sales Price to
Square foot Price
The sales price to square foot prices paid for Fort Lauderdale luxury condos sold in 2016 is an important real estate indicator.
The 2016 (YTD) market analysis report for this is presented below
We can see from this report that the average sales price to square foot prices was $403.00 and that the median sales price to square foot price was $378.00
In 2015 the average sales price to square foot prices was higher at $414.00 and that the median sales price to square foot price was also higher at $393.00
Important to note is the highest square foot price paid at $1,519.00 – this was for a condo in The Ritz Carlton – Unit 1802.
Unit 1802 is a 2 Bedroom 3 Bathroom 1777 square foot unit.
This luxury Fort Lauderdale condo is a “one of a kind” direct oceanfront residence that has been fully upgraded throughout.
The unit combines the amenities of a world class hotel & the prestige of one of florida’s most exclusive addresses!
The condo offers spectacular South East views of the Atlantic and the famous Fort Lauderdale strip from its 486 feet of balcony.
% Sales to List Price
An important real estate indicators that is important to note is how much buyers are paying for Fort Lauderdale Luxury condos – based on the percentage of sales price to list price paid by buyers.
The 2016 market analysis report for this is presented below
We can see from this report that the average sales price to list price for Fort Lauderdale luxury condos is 82% – down from 90% in our post for 2015!
What is important to note however is the median sales price to list price at 93% – down from 95% in 2015
This means if a Fort Lauderdale condo for sale is listed at $1 Million – then based on median sales data the home would sell for 93% of that amount or $930,000.
Note also the highest price paid at 110% of list price.
Days on Market
Days on market for Fort Lauderdale Luxury condos 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 condo sales for 2016.
|$$||Days on Market|
We can see from this report that the average days on market for a Fort Lauderdale luxury condo for Sale in 2016 was 143 days – up from 117 days in 2015!
More importantly is the median days on market at 115 days which is also up from 74 days in 2015.
Days on Market is the time from when the home was listed for sale till the condo sold AND closed.
Luxury Penthouses 2016
The market analysis report for Fort Lauderdale luxury penthouse sales for 2016 (YTD) is presented below.
|High||5 / 5||19,000||$5,095,000|
|Avg||3 / 3||3,797||$1,261,321|
|Med||3 / 3||2,226||$937,500|
We can see from this report that the average price paid for a luxury Fort Lauderdale penthouse in 2015 was $1,261,321 – this being for a 3 bedroom 3 bathroom unit of 3797 square feet.
This was up from the average price paid for a penthouse in 2015 was $1,226,644 – this being for a smaller 3 bedroom 2 bathroom unit of 2013 square feet
We can also see that the median price price paid in 2016 for a luxury pending house was $937,500 – this was well up from 2015!
The median price price paid in 2015 for a luxury pending house was $800,000 – this being based on 3 bedroom 2 bathroom unit.
I hope you have enjoyed my post on Luxury Fort Lauderdale Condos and Penthouses