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  • PRECONSTRUCTION
    CONDO PROJECT TRACKER
    or
    Nearly 39-Month Supply Of Luxury Condos Listed For Sale In Hollywood-Hallandale Beach During South Florida Winter Buying Season

    Buyers Purchased Less Than 35 Hollywood-Hallandale Beach Luxury Condos In First 9 Months Of 2018

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (Jan. 7, 2019) - Nearly 150 luxury condo units are formally listed for sale at a minimum price of at least $1 million in the Hollywood-Hallandale Beach market of the South Florida county of Broward, according to a new report from Condo Vultures® Realty LLC.

    Based on luxury condo sales of less than four units monthly in the first nine months of 2018, the Hollywood-Hallandale Beach market now has nearly a 39-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 luxury 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 South Florida region.

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

    Currently, only five Hollywood-Hallandale Beach luxury condo unit are under contract - or pending - and waiting to transact at an average asking price of nearly $1.6 million or about $575 per square foot, according to the statistics. 

    The average asking price of a Hollywood-Hallandale Beach luxury condo currently listed for sale is nearly $2 million per unit. This works out to an average asking price of about $749 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 luxury condo was less than $1.8 million or about $580 per square foot.

    This means the current asking price of a Hollywood-Hallandale Beach luxury condo listed for sale is nearly 13 percent higher than the average transaction price achieved on a per-unit basis and about 29 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 150 days to transact a Hollywood-Hallandale Beach luxury condo listed for sale. The current Days-On-The-Market average for Hollywood-Hallandale Beach luxury condos listed for sale is about 227, according to the statistics.

    The number of Days-On-The-Market for the luxury condo units currently under contract is about 236 in Hollywood-Hallandale Beach, 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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