Broward County has its share of million-dollar homes, but the high-end market isn’t as strong as its neighbors, Miami-Dade and Palm Beach counties.
One area with high price tags is Hillsboro Beach, and especially an exclusive stretch of land called Hillsboro Mile. New homes are going up on the mile, many on large lots with water on two sides. The most expensive home on the market last month there was a spec home at 1093 Hillsboro Mile, listed for $22.99 million.
“This sliver of properties is extremely rare and is affected very little, if at all, by downward market trends,” said John List, managing broker at Nestler Poletto Sotheby’s International Realty, who is selling the $22.99 million planned home.
A 20,000-square-foot structure by local developer Ellemar Enterprises is being built at the site. The home is planned to have six bedrooms, seven full and three half baths, with 125 square feet of water frontage and a no-wake zone. List said there isn’t an estimated completion date yet for the home.
“With the market slowdown, they have not rushed into construction of the new residence,” said List.
On the list of the most expensive homes in Broward county, Hillsboro Beach estates claim four of the top five spots, but the number one spot belongs to a Fort Lauderdale waterfront home that has been on the market for a year.
The waterfront home at 1818 SE 10th Street is listed at $28.5 million, down from $35 million when it first hit the market a year ago. The property has a main house and a guest house, totaling 20,000 square feet. There are 11 bedrooms, 12 full and five half baths, and the property has 817 square feet of water frontage.
“The market has not been terrific, and you don’t sell these houses here often,” said Beth Beauchamp, president and owner of Intercoastal Realty, who is selling the home. Beauchamp said the high-end homes usually sell for under $20 million, with most homes selling in the $1 to $5 million range.
Top five most expensive Broward County homes on the market:
1. 1818 SE 10th Street: 20,619 square feet, $28.5 million
2. 1093 Hillsboro Mile: 20,000 square feet, $22.99 million
3. 1131 Hillsboro Mile: 15,297 square feet, $18.95 million
4. 991 Hillsboro Mile: 12,900 square feet, $18.49 million
5. 973 Hillsboro Mile: 14,540 square feet, $17.5 million