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    Nearly 8-Month Supply Of Hollywood-Hallandale Beach Rentals Listed For Lease During Winter Buying Season

    Hollywood-Hallandale Beach Landlords Ask $2.38 PSF Monthly For Residential Rental Properties

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (Jan. 7, 2019) - More than 1,040 residential rental properties are formally listed for lease 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 completed leases of less than 132 residential properties monthly in the first nine months of 2018, Hollywood-Hallandale Beach now has nearly an eight-month supply of rentals - apartments, condos, efficiencies, multifamily and townhouses - available 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 supply listed for lease suggests a tenant’s advantage and less months typically indicates a landlord’s advantage in the market. 

    It is worth noting that about 95 rental properties are currently under contract - or pending - and waiting to transact at a median monthly asking price of $1,700 per unit or $1.64 per square foot in Hollywood-Hallandale Beach.

    The median asking price of a Hollywood-Hallandale Beach residential rental property currently listed for lease is about $2,500 per property monthly. This works out to a median asking price of $2.38 per square foot monthly, according to the data compiled by CondoVulturesRealty.com

    In the first nine months of 2018, the median transaction price of a Hollywood-Hallandale Beach residential rental property was about $1,600 or $1.65 per square foot monthly, according to the data.

    This means the current asking price of a Hollywood-Hallandale Beach residential rental property listed for lease is more than 56 percent higher than the median transaction price achieved on a monthly per-property basis and about 44 percent higher than the median transaction price achieved on a monthly per-square-foot basis between January and September of last year. 

    In the first three quarters of 2018, a landlord needed 48 days - on a median basis - to lease a Hollywood-Hallandale Beach residential rental. The current median Days-On-The-Market rate for a Broward County residential rental property listed for lease is about 112, according to the statistics. 

    The number of Days-On-The-Market for the residential rental properties currently under contract is about 64 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 acquisitions of condos in the tricounty region of Miami-Dade, Broward and Palm Beach.

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