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    The Ft Lauderdale Real Estate Market Vs the Miami Real Estate Market | The Best Markets for Single Family Homes

    March 14, 2019

    Single – Family Home Markets in Miami vs Ft Lauderdale

    South Florida has always been a desired destination for a second or third home. With the newest tax laws, our state has become even more attractive, specially for buyers from high tax states. We receive many calls from buyers who are looking into South Florida, but they are not quite sure on whether they would like to be in Ft Lauderdale or in Miami. We will start comparing these two areas in a variety of blogs so you can become familiar with both and be able to make an easier decision.

    This first blog focusses on what the main neighborhoods in Ft Lauderdale and Miami have to offer and what price ranges you can expect

    You can also pick up the phone and call Elaine Tatum 305.793.0540 or David Siddons 305.508.0899

    Map of our Miami neighborhoods. You can see the price ranges of each area by clicking on it

    Map of our Fort Lauderdale neighborhoods. You can see the price ranges of each area by clicking on it

    Victoria Park  (Ft Lauderdale)

    Victoria Park is one of Ft Lauderdale’s oldest neighborhoods. Alfred G. Kuhn, a Washington D.C. real estate developer platted Victoria Park in 1925. He named the area after his daughter, Victoria. Nestled alongside the Downtown Business corridor and the Las Olas Blvd arts and dining district,  Victoria Park heralds back to a simpler time. Today there is a mixture of lovingly restored Florida Style homes and new contemporary design. While looking for a property in Victoria Park you will notice that the area offers a great amount of brand new townhomes. The area enjoys the beauty of a mature tree canopy and meandering park waterway. Ideal for families with A rated public schools and top-rated private schools. The neighborhood is also close to Holiday Park which offers a multitude of team sport programming and a world-class tennis facility. Close to schools, work and play Victoria Park offers a great lifestyle in the heart of Ft Lauderdale.

    Price range of Homes Sold in 2018:

    • Waterfront: $920,000 – $3,338,000
    • Average Waterfront: $1,900,000
    • Non-waterfront: $415,000 -$1,475,000
    • Average non-waterfront $737,000

     

    Price range of Townhomes Sold in 2018:

    • Waterfront: $1,100,000 – $1,410,000
    • Average Waterfront: $1,261,000
    • Non-waterfront: $322,000 – $1,090,000
    • Average non-waterfront $575,000

    Las Olas Isles (Ft Lauderdale)

    Lauderdale’s iconic Las Olas Isles were dredged from the swampy wetlands in the early 1920’s. The Isles including Seven Isles, Idlewyld and Riviera Isles extend out from Las Olas Blvd like finger islands providing some of the most sought after waterfront real estate in S. Florida. Boating enthusiasts enjoy quick access to the ocean inlet and Intracoastal waterway. The Las Olas Isles offer a distinctive waterfront lifestyle and are close to all of the restaurants and businesses along famed Las Olas Blvd. Homes along the isles quickly escalate in price the closer you get to the point with point lots as the prize. Let us give you a tour of the area to find the Isle that is perfect for the type of boating that interests you. No two Isles are alike.

    Price range of Homes Sold in 2018:

    • Waterfront: $885,000 – $6,700,000
    • Average Waterfront: $2,300,000
    • Non-waterfront: $1,000,000 – $1,100,000
    • Average Non-waterfront $1,050,000

     

    Price range of Townhomes Sold in 2018:

    • Waterfront:  $700,000 – $1,560,000
    • Average Waterfront: 1,211,000
    • Non Waterfront: N/A

    Harbor Beach  (Ft Lauderdale)

    Harbor Beach in Ft Lauderdale is one of the few luxury gated waterfront neighborhoods in the city. Harbor Beach is located off the Ft Lauderdale Beach barrier island and enjoys an exceptional location closest to the ocean inlet. If you are a boating enthusiast you know a short navigation to your favorite fishing spots is key. The neighborhood boasts it’s own private beachclub offering the best of yachting and beach life. The neighborhood consists of sprawling estates and a mix of architectural styles including Mediterranean, traditional and contemporary design. The focus of life here is more about the yacht in the backyard. This is a haven for true yachtsmen that want to enjoy the saltlife to the fullest. 

    Price range of Homes Sold in 2018:

    • Waterfront: $2,115,000 – $6,390,038
    • Average Waterfront: $4,100,000
    • Non-waterfront: $975,000 – $3,150,000
    • Average non-waterfront $1,1700,000

    Rio Vista  (Ft Lauderdale)

    Rio Vista is one of Ft Lauderdale’s original neighborhoods. The neighborhood borders the new river & downtown to the north and Intracoastal Waterway to the east. The first plat was recorded by Mary Brickell of Miami in the 1920’s then later sold to C.J. Hector who began his “River View” development. The neighborhood is dotted with a few of the remaining original homes. This lends both charm and character set amongst the picturesque winding waterways and mature foliage. Local transport is usually by golf cart in this close knit community with many residents belonging to the Lauderdale Yacht Club. The club is a local landmark in the Ft Lauderdale boating community. Waterfront homes are both open water and canal front.

    Price range of Homes Sold in 2018:

    • Waterfront: $1,000,000 – $6,900,000
    • Average waterfront $2,650,000
    • Non-waterfront: $465,000 – $3,750,00
    • Average non-waterfront $1,250,000

    Coral Ridge Country Club (Ft Lauderdale)

    The Coral Ridge Country Club area is an upscale neighborhood that offers residents gracious size lots that border the golf course greenways. The Enclave is a new gated neighborhood within the country club area that is adding even more cache to golf course living. The neighborhood also provides waterfront living with direct access to the Intracoastal Waterway. Residents enjoy pleasure cruising to some of the many local boat friendly restaurants and close proximity to the charming seaside village of Lauderdale by the Sea.

    Some of the most esteemed private schools are also an easy commute.

    Price range of Homes Sold in 2018:

    • Waterfront: $850,000 – $3,350 000
    • Average waterfront $1,540,000
    • Non-waterfront: $500,000 – $3,100,000
    • Average non-waterfront $805,000

    Coconut Grove (Miami)

    With its tree filled, jungle-esk streets (occasionally the catwalk of a muster of peacocks) and Bahamian, timber frame conch houses, the Grove is like no other part of Miami. This laid back village provides a more Bohemian feel than elsewhere in Miami while also being home to many multi-million dollar mansions. Real Estate in Coconut Grove is very desired for its safety, private schools, excellent location, walkability and its tree-filled streets with lush vegetation. The area is rich in beautiful properties often located in quiet and private streets. As Coconut Grove is located along the Biscayne Bay the waterfront aspect also plays an important role in the demand for Coconut Grove homes. Many Coconut Grove homes are located in guard-gated communities, which is especially attractive to families with children. The demand for gated communities has always been high as the exclusivity and safety of these communities appeal to many.  Many gated communities in Coconut Grove are waterfront and offer amenities like tennis courts and 24/7 surveillance. Some of the most desired Coconut Grove communities are The Moorings, Hughes Cove, Camp Biscayne and Entrada Estates.

    Price range of Homes Sold in 2018:

    • Waterfront: $1.5M – $19,750,000
    • Average waterfront $6.2M
    • Non-waterfront: $700,000 – $8.1M
    • Average non-waterfront $1,550,000

    Coral Gables (Miami)

    Coral Gables is one of Miami’s most sought after residential areas. The Gables is a very extensive neighborhood and homes vary from smaller Spanish Colonial homes to multimillion-dollar oceanfront mansions in gated communities. For that reason, home prices range considerably depending on the community you are located in. We often divide the area into Coral Gables west of US1 and Coral Gables east of US1. Desired areas west of US1 are the areas around the Biltmore Golf course and around the Coral Gables Waterways. On the east side of the US1 is where we find Coral Gables’ most prominent gated communities such as Gables Estates, Cocoplum and Hammock Oaks. Many of these gated communities are waterfront and very desired with families.  Both areas west and east of the US1 offer waterfront homes. The Eastern part is closer to the bay or the open water and therefore very exclusive and sought-after. The waterfront properties west of the US1 are further from the open water and therefore less in demand with boaters than the properties with direct access to the open bay.

    The Gables’ attraction to (younger) families is mainly due to the strong school district and the safety in the area. Another great point of attraction are the many golf courses like the Riviera Country Club, The Biltmore Golf Course, Granada Golf Club and the Coral Gables Country Club. 

    Price range of Homes Sold in 2018: (West of US1)

    • Waterfront: $1.73M – $4.1M
    • Average waterfront $3.15M
    • Non-waterfront: $400,000 – $3,700,000
    • Average non-waterfront $1M

     

    Price range of Homes Sold in 2018: (East of US1)

    • Waterfront: $900,000 – $19M
    • Average waterfront $4.3M
    • Non-waterfront: $500,000 – $7,340,000
    • Average non-waterfront $1.5M

    Pinecrest (Miami)

    Pinecrest is located just south of Coral Gables, West of South Red Road / Old Cutler Road and East of the Pinecrest Parkway. The Pinecrest real estate market is dominated by single – family homes mostly located on larger lots. In Pinecrest most lots vary between 20,000 Sq.Ft and an acre, sometimes even larger.

    Pinecrest is known to be one of Miami’s most desired neighborhoods.  Pinecrest is very much in demand with buyers as it is home to many of Miami’s best (highly rated) public schools. As many young families like to provide their kids with the best education possible, Pinecrest is a desired location for real estate because in order to quality for Pinecrest’s excellent school district, you need to live in the area. Furthermore, the village is very much in demand with families as the area is safe and offers many parks. Home in Pinecrest are more affordable than in Coral Gables and Coconut Grove and generally speaking are larger homes on larger lots.

    Price range of Homes Sold in 2018:

    • Waterfront*: $650,000 – $1,260,000
    • Average waterfront $934,036
    • Non-waterfront: $485,000 – $7.2M
    • Average non-waterfront $1.5M

    *Pinecrest is not known for waterfront homes and many waterfront homes are lakefront or far from the open bay. For this very reason you will notice waterfront homes won’t sell for much more than dry lot homes

    The Venetian Islands (Miami)

    The Venetian Islands consist of 6 man-made islands in the Biscayne Bay between Midtown/Edgewater and Miami Beach, which offers a perfect location to many. These six islands are Biscayne, San Marco, Di Lido, San Marino, Belle Isle and Rivo Alto. The islands are connected by the Venetian Causeway, which is a private toll way between Miami’s mainland and the Beach. The area has become one of the most desirable neighborhoods in Miami Beach because of its many superb real estate options and waterfront location

    The homes for sale on the Venetian Islands are located both on waterfront lots as well as on dry lots. Many of the Venetian Island homes are newly build or have been renovated in the last few years which provides the islands with a mix of modern and more traditional, Mediterranean homes. Many of the Venetian Islands waterfront homes offer a boat dock.

    Price range of Homes Sold in 2018:

    • Waterfront: $4.2M – $17.3M
    • Average waterfront $7.95M
    • Non-waterfront: $925,000 – $4,250,000
    • Average non-waterfront $1.7M

    We intended to keep this blog and information as concise as possible, but there is so much to share about these neighborhoods and homes in these areas. This blog is merely for you to get a quick glimpse of these markets as a starting point. Please contact us for more information about the areas and homes in the area. Of course we specialize in the entire Ft Lauderdale and Miami market and can be reached for all inquiries.

    Contact the David Siddons Group today:

    Ft Lauderdale Specialist: Elaine Tatum | 305.793.0540 | Tatum.e@ewm.com
    Miami (Beach) Specialist: David Siddons | 305.508.0899 | Siddons.d@ewm.com

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    THE 2018 MIAMI REAL ESTATE REPORT

    EX-STOCKBROCKER’S ANALYSIS OF THE MIAMI MARKET

    Call us at: (305) 508-0899 or email us below at siddons.d@ewm.com
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