Broward County experienced a downturn in condo sales and overall dollar volume during the second week of June. A total of 99 condo sales were closed, amounting to $30.3 million, a decrease from the previous week’s 105 sales totaling $35.3 million. The average sale price per unit and per square foot also saw a decline.
Key Takeaways
- Broward County saw a drop in both the number of condo sales and the total dollar volume for the week of June 6-14.
- The highest priced sale was a luxury unit in Pompano Beach, fetching $2.5 million.
- Average prices per unit and per square foot decreased compared to the prior week.
Top Sale in Pompano Beach
The most significant transaction of the week was a unit at Sabbia Beach, located at 730 North Ocean Boulevard in Pompano Beach. This property closed for $2.5 million, equating to $1,348 per square foot. The unit spent 268 days on the market before its sale.
Other Notable Transactions
Following the top sale, a unit at L’Hermitage in Fort Lauderdale, SPH2603 at 3200 North Ocean Boulevard, sold for $2 million, or $951 per square foot. This unit had a shorter time on the market, closing after 38 days.
The top 10 sales for the period ranged from $470,000 to $2.5 million. The average price per square foot across all sales fell to $254 from $290 in the preceding week.
Market Performance Overview (June 6 – June 14)
Here’s a summary of the top 10 condo sales in Broward County:
- Most Expensive: Sabbia Beach, Pompano Beach – Unit 1705 sold for $2,500,000 ($1,348 psf).
- Least Expensive: Costa Hollywood, Hollywood – Unit N215 sold for $470,000 ($572 psf).
- Highest Price Per Square Foot: Sabbia Beach, Pompano Beach – Unit 1705 achieved $1,348 psf.
- Lowest Price Per Square Foot: Overlook, Hillsboro Beach – Unit 505 sold for $461 psf ($790,000).
The data indicates a softening in the Broward County condo market for the specified week, with a noticeable decrease in both transaction volume and average pricing.
Sources
- Broward County Weekly Condo Sales Drop to $30M, The Real Deal.