Values: Market Report Series | Single Family Homes | Greater Fort Lauderdale

KEY TAKEAWAYS

Greater Fort Lauderdale

Harbor Beach to Lighthouse Point

$1M+ Single Family Homes
December, Q4 and 2024

Hi there, Friends,

This is Jennie Frank Kapoor with Tropical Phoenix Homes. Welcome to, Key Takeaways, a quick monthly highlight as a part of my Values market report series. As we enjoy the South Florida Winter, we take a macro level view of the $1M+ Greater Fort Lauderdale luxury single family home market from “harbor to lighthouse” and everything in-between. 

This is a special edition where we discuss December, Q4 and Year-End of 2024.

What are the trends? What does the data say? Where are the latest opportunities? And is the market hot or not? Read the report below or watch the video.

1 CLOSED SALES

Key Takeaways:

• There were 56 luxury closed sales in December and 717 in all of 2024, up from 696 in 2023 (+3.0% YoY).
• As predicted, we have seen an uptick in most of the subject markets towards the end of the year (post-election and into South Florida winter transaction season).
• While there were peaks and valleys, sales were relatively and seasonally consistent throughout the year, and we are in a similar place year-over-year (YoY).

2 CLOSED DOLLAR VOLUME

Key Takeaways:

• Continuing an upward trend, luxury closed dollar volume hit $173.3M in December, a meaningful increase than a year ago (+49.6% YoY), and one of the top three best months for the year.
• The area saw $1.89B of luxury transactions in 2024 for this property type following a strong rebound during Q4 in most of our subject markets.

3 MEDIAN SALES PRICE

Key Takeaways:

• The 2024 luxury median sales price for the area ranged from $2.83M in exclusive Sea Ranch Lakes to $1.63M in Pompano Beach – all incredible median prices for the South Florida region.
• Ultra-luxury Hillsboro Beach saw a median of $18.4M on the year.
• Pricing in 2024 fluctuated within a well-established range but blended higher for the area as a whole.

4 MEDIAN TIME TO SALE

Key Takeaways:

• The median time to sale for this luxury property type blended to 105 days in December and 97 days on the year for 2024.
• Sea Ranch Lakes saw the quickest 2024 closings at a median of 57 days; with Lauderdale-by-the-Sea the top of the luxury range at 118 days. Ultra-luxury Hillsboro Beach came in at a median of 229 days for the year.

5 NEW PENDINGS

Key Takeaways:

• There were 60 new luxury contracts reported so far in December, continuing a recent trend higher in deal activity, along with an impressive 815 on the year.
• (This number tends to get revised the further we get into the new month, so expect to see an adjustment.)

6 ACTIVES

Key Takeaways:

• Active luxury inventory hit 633 in December, up from 597 a year ago (+6.0% YoY), but representing a three-month low recently following a strong run of sales.
• Actives were either slightly up or down YoY per subject market, once again reinforcing a strong end to the year after a buildup of inventory coming out of Summer (and much of the prior year).

7 NEW LISTINGS

Key Takeaways:

• Luxury new listings hit 95 in December (compared to 100 a year ago, -5.0% YoY) and there were 1,522 for the year.
• Coinciding with a strong Q4 in sales, new listings have mostly dropped over the last quarter, led by a -52% drop in Fort Lauderdale.

8 MONTHS SUPPLY

Key Takeaways:

• December luxury inventory has been steadily trending down to a blended 10.9 of months supply within the area. For 2024, the area blended to 11.5 of luxury months supply.
• This is led by the largest supply of 16.0 in Hillsboro Beach (however, down considerably from last year, -525% YoY) and the smallest supply of 6.5 was in exclusive and sought after Sea Ranch Lakes.

9 BUYERS VS SELLERS OR NEUTRAL

With all of this in mind, I would consider us to be within a shifting market where inventory is coming down, deals are getting done, and pricing remains strong for this property type. In the textbook (due to the data) we’re in a buyer’s market, but I believe the momentum has been changing, especially in these desirable areas. Expect to see inventory come down for good quality luxury product that’s priced realistically – there’s a market for it. 

10 NOTABLE SALES

The two highest priced Greater Fort Lauderdale luxury single family home sales in December were:

1. Waterfront:
   1. 2724 Sea Island Drive, an expansive and elegant estate within the prestigious Las Olas neighborhood of Seven Isles, selling for $22.35M ($2,754 / SF).
2. Inland:
   1. 709 NE 18th Ave, a modern new construction home within lush and charming Victoria Park, selling for $2.875M ($799 / SF) – a great buy.

11 NOTABLE LISTINGS

Two Notable December luxury listings that are opportunities that I’d love to discuss further with you include:

1. Waterfront:
   1. 90 Compass Ln located within exclusive Bay Colony off the Intracoastal. This home boasts 240’ of waterfrontage on two sides and sits on an expansive 17,000+ SF lot. Asking $8.995M ($1,221 / SF), I believe this estate offers incredible upside, especially for someone willing to reimagine the property through a renovation but enjoy or rent it in the time while pursuing plans.
   2. Listing by Steven Seigel, The Agency
2. Inland:
   1. 24 Castle Harbor Isle within beautiful Bermuda Riviera on Fort Lauderdale Beach – which is one of my absolute favorite gated communities. Updated and asking $1.99M ($866 / SF) on a larger 9,171 SF lot, I believe this is a great inland target for someone looking to enjoy a sanctuary community that’s also great for raising a family. There are limited options to buy here, and it’s the calculous that comes into the pricing. 
   2. Listing by Gittel Lipszyc, Compass

12 HOT OR NOT

So where is the Greater Fort Lauderdale luxury single family home market heading leaving December? And is the market Hot or Not?

Jennie says it’s – warm and warming.

More and more deals are happening, but it’s still a great time to be a selective buyer here in Greater Fort Lauderdale. While high amounts of inventory remain, it has been dropping through Q4 and expect that to continue in the near-term through Winter selling season in early 2025.

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And those are my Key Takeaways for the Greater Fort Lauderdale $1M+ luxury single family home market – from harbor to lighthouse – December 2024.

Are you interested in more analysis and property around South Florida or The Bahamas? Schedule an appointment with me or visit my Values market reports and other series on my blog and podcast channels. 

DISCLAIMERS AND NOTICES

1. Data relied on within this blog and market report are from i) BeachesMLS and ii) MIAMI Association of REALTORS as of the date of this blog. This data is not verified for authenticity or accuracy and may not reflect all real estate activity in the market. Based on information © 2025 BeachesMLS, Inc.
2. This blog and market report are not to be considered investment advice nor a solicitation for investment.
3. Purchasing or selling real estate is an important financial decision. Make your own buying, selling, or investment decision based on your own analysis and due diligence, along with the consultation of your own professional advisors.
4. The content of this blog and market report is for information and educational purposes only. Any commentary is solely the professional opinion of Jennie Frank Kapoor and/or Tropical Phoenix Homes and does not reflect the opinion of Engel & Völkers, any MLS, Florida Realtors, nor any other group. Errors and typos are possible, and you should verify all information before taking any actions.
5. Copyright © 2025 of all original photos and content within this blog and market report, which are the property of Engel & Völkers, Jennie Frank Kapoor, Florida Realtors, and/or Tropical Phoenix Homes (“IP Holders”). No photos or content may be utilized or reproduced without the prior written consent of the IP Holders.