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    CONDO PROJECT TRACKER
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    Hollywood-Hallandale Beach Faces 14-Month Supply Of Condos Listed For Sale During South Florida Winter Buying Season

    Sellers Ask 62% Premium For Hollywood-Hallandale Beach Condos

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (Jan. 7, 2019) - More than 1,625 condo units are formally listed for sale in the Hollywood-Hallandale Beach market in the South Florida county of Broward, according to a new report from Condo Vultures® Realty LLC. 

    Based on condo sales of about 117 units monthly in the first nine months of 2018, the Hollywood-Hallandale Beach market has nearly a 14-month supply of units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach during the Winter Buying Season, according to the report based on data from the Southeast Florida MLS Matrix. 

    A balanced market is generally considered to have about six months of supply. More months of condo supply listed for sale suggests a buyer’s advantage and less months typically indicates a seller’s advantage in the market. 

    It is worth noting this report only tracks those Hollywood-Hallandale Beach condos formally listed for sale. The report does not factor in the more than 47,725 new condo units currently in the development pipeline east of Interstate 95 in the tricounty region. 

    (For the latest South Florida preconstruction condo project pipeline, please visit: CraneSpotters.com.) 

    Currently, about 126 Hollywood-Hallandale Beach condo units are under contract waiting to transact - or pending - at an average asking price of nearly $294,410 each or $261 per square foot, according to the statistics. 

    The average asking price of a Hollywood-Hallandale Beach condo currently listed for sale is about $518,167 per unit. This works out to an average asking price of $357 per square foot, according to the data compiled by CondoVulturesRealty.com

    In the first nine months of 2018, the average transaction price of a Hollywood-Hallandale Beach condo was nearly $319,680 each or about $251 per square foot, according to the statistics. 

    This means the current asking price of a Hollywood-Hallandale Beach condo listed for sale is about 62 percent higher than the average transaction price achieved on a per-unit basis and about 42 percent higher than the average transaction price on a per-square-foot basis between January and September of last year. 

    In the first three quarters of 2018, the sellers who were able to unload their units needed about 119 days to transact a Hollywood-Hallandale Beach condo listed for sale. The current Days-On-The-Market average for a Hollywood-Hallandale Beach condo listed for sale is about 191, according to the statistics. 

    The number of Days-On-The-Market for the Hollywood-Hallandale Beach condo units currently under contract - or pending - is about 137, according to the statistics.

    CondoVulturesRealty.com is a licensed Florida brokerage that specializes in assisting buyers and tenants in value-oriented condo acquisitions and leases in the tricounty region of Miami-Dade, Broward and Palm Beach.

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