Fort Lauderdale Luxury Condos 2015

Fort Lauderdale
Luxury Condos/Penthouses

Fort Lauderdale offers a fine range of luxury condos and penthouses for sale – from waterfront units, to oceanfront units to units on the famous Galt Ocean Mile.

Search Luxury Condos $500K – $1 Million
Search Luxury Condos $1 Million Plus

Key 2015 Statistics
for Buyers / Sellers

  • Median Sales Price $715,000 – the same as in 2014
  • Median Sales to List Price 95% – up from 2014
  • Median Days on Market 74 Days – down from 2014

Luxury condo prices have been steady in 2015

However the volume of Luxury condo sales was up by 15% from 2014!

Fort Lauderdale Luxury Condo Sales Prices 2006-2015
Fort Lauderdale Luxury Condo Sales Prices 2006-2015

We can see from the graph above 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.

The median sales price for a Fort Lauderdale Luxury Condo in 2013 was $720,000 and in both 2014 and 2015 was $715,000 – down so slightly.

Superb ocean views from this luxury Fort Lauderdale condo sold in 2015
Superb ocean views from this luxury Fort Lauderdale condo sold in 2015

 

Fort Lauderdale
Luxury Condos 2015

The market analysis report for luxury condos for 2015 is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 5 / 6 6,000 $5,450,000
Average 3 / 3 2,200 $890,198
Median 3 / 2 2,078 $715,000

We can see from this report that the average price for a luxury condo sold here in Fort Lauderdale in 2015 was $890,198 – this being for a 3 bedroom 3 bathroom unit of 2200 square feet.

The median sales price for a luxury condo in 2015 was $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 2015 is an important real estate indicator.

The 2015 market analysis report for this is presented below

 $$ SP$/SqFt
High $1,593
Average $414
Median $393

We can see from this report that the average sales price to square foot prices was $414.00 and that the median sales price to square foot price was $393.00

Important to note is the highest square foot price paid at $1,593.00 –   this was for a condo in Lago Mar North Lodge Unit 104

View Fort Lauderdale luxury condo sold for the highest square foot price in 2015
View Fort Lauderdale luxury condo sold for the highest square foot price in 2015

This 2 Bedroom 2 Bathroom 1444 square foot unit sold for $1,350,000.

This luxury condo was a direct beachfront unit on 1st floor – which allows residents to walk out to the pristine, private beach.

Located in Harbor Beach – a secluded neighborhood, next to Lago Mar Resort and spa which offers amenities including tennis, beach attendant, 2 pools, restaurants and a pool bar/restaurant.

 

% 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 2015 market analysis report for this is presented below

 $$ SP$/LP$
High 211%
Average 90%
Median 95%

We can see from this report that the average sales price to list price for Fort Lauderdale luxury condos is 90%

What is important to note however is the median sales price to list price at 95% – up from 94% in 2014

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 95% of that amount or $950,000.

Note also the highest price paid at 211% 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 2015.

 $$ Days on Market
High 1,999
Average 117
Median 74

We can see from this report that the average days on market for a Fort Lauderdale luxury condo for Sale in 2015 was 117 days or just under 4 months!

More importantly is the median days on market at just 74 days – this is down from 81 days in 2014

This is fast and shows how strong the demand is for Fort Lauderdale Luxury condos for sale

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

Fort Lauderdale
Luxury Penthouses 2015

The market analysis report for Fort Lauderdale luxury penthouse sales for 2015 is presented below.

$$  Beds/Baths SF/FF Sale Price
High 5 / 5 5,800 $5,450,000
Avg 3 / 3 2,492 $1,226,644
Med 3 / 2 2,013 $800,000


We can see from this report that the average price paid for a luxury Fort Lauderdale penthouse in 2015 was $1,226,644 –
this being for a 3 bedroom 2 bathroom unit of 2013 square feet.

This was up from the average price paid for a penthouse in 2014 which was $1,168,186this for a 3 bedroom 2 bathroom unit of 2546 square feet.

We can also see that the median price price paid in 2015 for a luxury pending house was $800,000 – this was well down from $1,149,000 paid in 2014 both of these being based on 3 bedroom 2 bathroom unit.

Kevin Wirth Realtor Fort Lauderdale Florida

I hope you have enjoyed my post on Luxury Fort Lauderdale Condos and Penthouses

Kevin Wirth – Fort Lauderdale Realtor
954-459-0337