This Quiet Beach Town Is Florida’s Next Real Estate Hot Spot
Once tainted by a scruffy past, this small city on the Atlantic is being touted as the Sunshine State’s next big luxury market.
With Miami on one side and Fort Lauderdale on the other, the quiet town of Hallandale Beach has spent much of its existence in the shadow of two major metropolises. For decades, its sliver of picture-perfect beachfront was the attraction for retirees and snowbirds; for others, it was the city’s famous Gulfstream Park, a horse race track and casino.
But according to a recent story in the Wall Street Journal, this once sleepy, scruffy beach town is in the midst of a renaissance. And developers are quickly taking notice. “It’s going through a transformation like I’ve never seen before,” Scott Patterson, a real estate broker in the area, told the Wall Street Journal.
Once known for political scandals and gambling, Hallandale Beach is now turning heads for its seriously enviable waterfront real estate. With prices rising and land running scarce in Miami and Fort Lauderdale, those who once might’ve opted for the city are re-centering their luxury real estate searches in Hallandale. And the numbers prove it. According to MLS data, the median sold price for homes above $1 million in Hallandale Beach grew 19 percent in the fourth quarter of 2018 compared with the year prior. (By comparison, median sold prices grew just 11 percent in Miami during the same time period.) While the median listing price still hovers around $250,000, according to Realtor.com, the number of million-dollar home listings are also steadily increasing.
Developers such as New York-based KAR Properties are banking on the city’s luxury boom. Their brand-new residential high-rise called 2000 Ocean, when completed, will feature 64 contemporary glass-walled units ranging in price from about $2.8 million to $12 million. Other luxury developments include plans for a new SLS Resort Residence and Greg Norman-designed golf course, as well as multiple high-end restaurants and boutiques.
But, while luxury options and home prices are climbing in Hallandale Beach, living here—and on the water—is still considerably cheaper (by about three times) than living in a comparable property in Miami. That, coupled with the smaller population, central location, and quieter, emptier beaches, are what residents say make Hallandale special. “It’s a sleepy little place, off the mainstream,” one homeowner told the WSJ. “People don’t know about it.”
Related: The 10 Best Little Beach Towns in Florida: