The Landings & Bay Colony

16

Should be Another Strong Year

by Rich Barnhart

H

appy New Year Landings residents! 
If you are an owner of real estate (or

planning to buy soon) in the Landings or
Bay Colony neighborhoods then you have
plenty to be happy about in the New
Year. The real estate recovery in our area
has been very strong since the bottom of
the market in 2011. It seems the secret is
out and the result is significant increases in

our property values over the past 3 years.

Median Price Per Square Foot in 
The Landings

A good measure of real estate values over time is the
median price per square foot. Let’s take a look at single
family sales in The Landings, Bay Colony and Golf/Lake
Estates, as well as waterfront condos in these
neighborhoods between 2011 and 2014:

The Landings:Increase from $275/ft to $359/ft (+30.5%)
Bay Colony:Increase from $306/ft to $440/ft (+43.8%)*
Lake Estates & Golf Estates:Increase from $219/ft to $247/ft (+12.8%)
Waterfront Condos:Increase from $115/ft to $152/ft (+32.2%)

* Limited MLS data: Bay Colony only averages 4.5 sales per year

2015 Real Estate Outlook

Most experts agree that the national real estate outlook is
good. For starters, interest rates are still historically low
and even if they go up this year the effect should be
negligible since rents are expected to
continue upward as well. Since about
half of the single family transactions
in The Landings neighborhoods are
financed, low interest rates will
continue to be a positive factor for us
(only 21% of condos are financed).
National outlooks also cite lower
unemployment and lower oil prices
as factors in the continued real estate
recovery. More money in consumers’
pockets equates to higher consumer
confidence and more disposable
income for housing.

In south Florida we have additional demand factors to
consider: second home owners, foreign buyers and state
migration levels. About 8% of our single family homes and
36% of our condos are owned by second home owners, so
as we approach another winter season expect our
properties will continue to be in high demand. Fort
Lauderdale also continues to be a top destination for
foreign home buyers, but keep an eye on exchange rates
since the strong dollar is making property more expensive
for some foreigners. Finally, as weather and unfavorable
taxes around the country continue to drive more buyers to
our Sunshine State you should expect that migration rates
will continue to be in our favor for many years to come.

Bottom line, there are plenty of reasons to be optimistic, but
depending on the type of property you own (condo or
single family) the market can change quickly, so you should
keep an eye on the various real estate metrics that affect
your property values.  

I

Rich Barnhart
Landings Resident and Broker/Owner 
By the Sea Realty, Inc

223 Commercial Blvd.
Lauderdale-by-the-Sea, FL 33308
(Corner of Commercial & Sea Grape)
954-351-7007
www.bythesearealty.com

Real Estate