South Florida Condo Fee Index · development report · as of October 18, 2026 · Lauderdale Lakes, Broward County
Somerset, Lauderdale Lakes: condo fees, what sold, and what is for sale today
As of October 18, 2026, the median monthly-equivalent association fee among 17 active Somerset listings with a usable fee is $390, 26% below the Lauderdale Lakes condo median of $525. 17 Somerset condominiums are listed for sale in Lauderdale Lakes, and 4 more are under contract. 9 of 17 active listings have recorded current asking price below original (52.9%).
Over the twelve months October 2025 to September 2026, 19 Somerset condos closed at a median $85,000, a median 12% under their original asking price.
Key takeaways
- Median listed association fee in Somerset: $390/mo across 17 active listings with a usable fee, 26% below the Lauderdale Lakes condo median of $525.
- 19 Somerset condos closed October 2025 to September 2026 at a median $85,000, 88% of original asking price.
- 17 Somerset condos are for sale as of October 18, 2026 at a median asking price of $85,000; 9 of 17 show a current asking price below original (52.9%).
- 10.7 months of supply at the current sales pace (17 for sale against 1.6 sales a month).
- Buildings here date from 1974 to 1981, so Florida milestone inspection rules apply.
Small sample: Somerset has fewer than 20 condos for sale and fewer than 20 closings in the window, so single listings move these figures. Read them as indicative and check the counts under each number.
The fees displayed are only as accurate as the brokerage that provided them in its individual listings through the multiple listing service. Information is deemed to be reliable but not guaranteed.
For Somerset owners
Own a condo in Somerset? The association fee is fixed at sale. The asking price is your decision.
Buyers comparing Somerset condos see the listed monthly association fee beside every asking price and weigh the two together. You cannot change the association fee when you sell; you can set the price with the association fee, the closed sales and the current competition in Somerset already accounted for.
41.7% of active condo listings in Lauderdale Lakes have a recorded asking price below their original list price. For fee comparisons, Somerset, Lauderdale Lakes has 17 active listings with a usable listed monthly-equivalent fee, as of October 18, 2026; this community sample is not percentile-trimmed.
The data comes from the segment and recorded fields available in PBP Real Estate's BeachesMLS feed, as of the date shown. Gia Freer, Broker of Record, turns comparable sales and current competition into one written pricing opinion for your Somerset condo, with the reasoning, before it goes live.
No website estimate, no automated number: a written opinion of value prepared by hand, within one business day.
Request a pricing opinion for your property
Buying in Somerset? Email me when a new Somerset unit lists, or browse every unit for sale.
Own in Somerset? Pricing correctly is a skill. Gia Freer prices your condo from this data, with the association fee factored in.
Ask Ava about this dataPrice my Somerset condo correctlyFor buyers and sellers: Sellers here are asking a median $85,000 while the last twelve months of sales closed at a median $85,000, 88% of the original asking price. That gap, plus 17 competing units and 10.7 months of supply at the current sales pace, is the pricing reality a Somerset seller starts from; the listed fee median of $390/mo among 17 active records with a usable fee is a comparison point, not a quote for a specific unit. Confirm its actual fee and coverage with the association.
The story for media: "19 condominiums in Somerset, Lauderdale Lakes, sold between October 2025 and September 2026 at a median price of $85,000, or 88% of their original asking price, while 17 remain for sale; the median listed monthly-equivalent association fee is $390 among 17 active records with a usable fee, according to PBP Real Estate's daily analysis of BeachesMLS data as of October 18, 2026."
What condos actually sold in Somerset, month by month
Source: BeachesMLS via PBP Real Estate's brokerage feed, condominium listings permitted for internet display. Active and under contract as of Oct 18, 2026; closed sales October 2025 to September 2026. Deemed reliable but not guaranteed.
Range $60,000 to $120,000. Sold figures cover listings permitted for internet display and closed between October 1, 2025 and September 30, 2026; they are counts and medians, never an opinion of any unit's value.
Where the Somerset fee sits among Lauderdale Lakes condos
Shaded band = 25th to 75th percentile of Lauderdale Lakes condo fees for sale today. Source: BeachesMLS via PBP Real Estate's brokerage feed, condominium listings permitted for internet display. Active and under contract as of Oct 18, 2026; closed sales October 2025 to September 2026. Deemed reliable but not guaranteed.
Inside Somerset the middle half of fees runs $350 to $460 a month ($0.52 per square foot). Units that sold in the last twelve months carried a median fee of $464 at the time of listing.
What the Somerset fee includes, as entered by listing brokers
- Trash 82.4%
- Common areas 58.8%
- Grounds 58.8%
- Building insurance 52.9%
- Water 52.9%
- Sewer 47.1%
- Recreation facilities 41.2%
- Security 41.2%
- Roof 41.2%
- Structure maintenance 41.2%
Share of the 17 Somerset listings that state what the fee covers. Utilities, insurance and reserves change what a fee is worth; compare coverage before dollars.
What condos are for sale in Somerset today
Source: BeachesMLS via PBP Real Estate's brokerage feed, condominium listings permitted for internet display. Active and under contract as of Oct 18, 2026; closed sales October 2025 to September 2026. Deemed reliable but not guaranteed.
See every Somerset listing with photos, fees and days on market, or get an email when a new Somerset unit lists.
Counts of the condominium listings for sale whose agent-written public remarks mention each item; not verified and not a statement about the association. Ask for the budget, reserve study and any assessment resolution before writing an offer.
Schools for Somerset
The district locator did not return a complete public-school assignment for the street address nearest the center of Somerset. Use the Broward County Public Schools school locator with the unit’s address.
95 private schools registered with the Florida Department of Education sit within 5 miles of Somerset.
Sources: Broward County Public Schools Find My School locator, retrieved 2026-09-19; FL DOE Private School Directory. Straight-line distances from the listing center point. PBP does not rank or rate schools.
Own in Somerset, or rent a condo in Lauderdale Lakes?
The median asking price among the 17 Somerset condos for sale is $85,000 and the median stated fee is $390 a month (17 listings state one). 12 of the 17 units for sale are 1-bedroom, asking a median $82,450. The median closed condominium lease in Lauderdale Lakes over the last 13 months was $1,650 (n=67). Month one, before principal is counted:
| Own, first year, per month | Rent, per month | ||
|---|---|---|---|
| Principal and interest, 30-year fixed at 7.37%, 20% down | $469 | Median Lauderdale Lakes condominium lease | $1,650 |
| Property tax with homestead, 23.1875 mills | $81 | Renter’s insurance | $25 |
| Condo insurance (HO-6), county average | $151 | ||
| Somerset median fee | $390 | ||
| Interior maintenance, 0.5% of price a year | $35 | ||
| Gross monthly cost to own | $1,127 | Gross monthly cost to rent | $1,675 |
Owning is $548 a month cheaper on day one; about $54 of the owner’s payment is principal in year one, so the owner is ahead by about $602 once principal is counted. Cash at the door for the owner: $19,550 (20% down plus 3% closing). Lauderdale Lakes rental market: what leases actually closed at.
Estimates for comparison only, not financial, tax or legal advice. Rate: Mortgage News Daily 30-year fixed rate index, 2026-10-16. Tax: 2025 total millage for Lauderdale Lakes, two $25,000 homestead exemptions (s. 196.031, F.S.). Insurance: county average HO-6 premium, FLOIR. Special assessments, club dues and land-lease payments are not in the fee figure. Same assumptions as the published Lauderdale Lakes rent-vs-own comparison.
What the recorded flags mean for a Somerset buyer
- Special assessment mentioned, 2 of 17 listings
- A special assessment is a charge on top of the regular fee, adopted by the board for a specific purpose such as a repair, a reserve shortfall or an insurance increase. Ask the association for the adopting resolution, the amount per unit, what it pays for and the payment schedule. Who pays the unpaid balance at closing is negotiable between buyer and seller and should be written into the contract. 1 of these listings describe the assessment as pending or carried by the buyer.
- Milestone inspection or recertification mentioned, 2 of 17 listings
- Florida requires a milestone structural inspection of condominium and cooperative buildings three habitable stories or taller by the end of the year the building reaches 30 years from its certificate of occupancy, and every ten years after; a local building department may require it at 25 years (s. 553.899, F.S.). Associations for those buildings must also complete a structural integrity reserve study at least every ten years (s. 718.112(2)(g), F.S.). Listings in Somerset report a median year built of 1974. Ask for the Phase 1 inspection report, any Phase 2 report and the reserve study; they tell you whether repairs are identified and how they are funded.
- Age restriction (55+) mentioned, 15 of 17 listings
- Housing for older persons under the federal Fair Housing Act exemption requires that at least 80% of occupied units have one resident aged 55 or older and that the community publish and follow age-verification policies. The rules govern who may occupy a unit, not who may own it; a buyer who does not meet the age requirement may face limits on living there or renting it out. Ask the association for its written 55+ policy and occupancy rules.
Counts are of the listings for sale whose agent-written public remarks mention each item. They are not a statement about the association and the absence of a mention is not confirmation that none applies. Financing terms and eligibility for a specific unit are decided by the lender and its investor, not by this page. Review the association documents, budget and reserve study with your own advisers before writing an offer.
What do buyers and sellers ask about Somerset?
What is the condo fee in Somerset, Lauderdale Lakes?
As of October 18, 2026, the median monthly-equivalent association fee across the 17 Somerset condominiums for sale that state a fee is $390; the middle half runs $350 to $460. That is 26% below the Lauderdale Lakes condo median of $525. The fees displayed are only as accurate as the brokerage that provided them in its individual listings through the multiple listing service. Information is deemed to be reliable but not guaranteed.
What did condos in Somerset sell for?
19 Somerset condominiums closed between October 1, 2025 and September 30, 2026 at a median $85,000 ($100 per square foot), ranging from $60,000 to $120,000. The median sale closed at 88% of the original asking price and 94.5% of the final asking price, after a median 124 cumulative days on market. 68.4% of those sales were cash. Closings are reported to the MLS with a lag, so the window ends with the last full month; 2 October 2026 closings have been reported so far and are not in the medians.
How many Somerset condos are for sale, and are prices being cut?
17 Somerset condominiums are listed as of October 18, 2026, asking from $65,000 to $150,000, median $85,000; 4 more are under contract. 9 of 17 active records have current ListPrice below OriginalListPrice (52.9%). Among those 9 records, median reduction is $20,000 and 12.5%; these are separate medians. The remainder is not a never-cut group. Median nonmissing recorded CDOM is 221 days, not an independently reconstructed property history. At the last twelve months' sales pace the inventory ratio is 10.7 months; not a sale-time forecast.
Does Somerset have special assessments, age restrictions or membership requirements?
We report what listing agents wrote, not what the association has decided. Among the 17 Somerset listings for sale, 2 mention a special assessment in the public remarks (1 describe one as pending or carried by the buyer); 15 state an age restriction such as 55+; 0 mention a required club or equity membership; 0 mention a land or recreation lease. Confirm every one of these with the association documents before writing an offer.
How is this Somerset report built and how often is it updated?
Refresh is scheduled daily from PBP Real Estate's BeachesMLS data feed: active and under-contract condominium listings in Lauderdale Lakes whose subdivision field names Somerset, plus available closings in the twelve months ending September 30, 2026. Use the report's statistical date and qualifying counts. Fees are converted to a monthly equivalent and usable association layers are summed. Medians need five or more records, percentages ten or more; smaller groups are shown as counts. Somerset is a small sample (under 20 listings and under 20 sales), so read its figures as indicative. This is a market read of MLS listing data, not an opinion of value about any unit or a statement about the association's finances. The fees displayed are only as accurate as the brokerage that provided them in its individual listings through the multiple listing service. Information is deemed to be reliable but not guaranteed.
Which public schools are zoned for Somerset, Lauderdale Lakes?
The district locator did not return a complete public-school assignment for the street address nearest the center of Somerset. Use the Broward County Public Schools school locator with the unit's address. 95 private schools registered with the Florida Department of Education sit within 5 miles.
Is it cheaper to own in Somerset or rent a condo in Lauderdale Lakes?
The median asking price among the 17 Somerset condos for sale is $85,000 and the median stated fee is $390 a month. Owning costs about $1,127 a month before principal ($469 principal and interest at 7.37% with 20% down, $81 property tax with homestead at 23.1875 mills, $151 condo insurance, $390 fee, $35 interior maintenance), against $1,675 to rent the median Lauderdale Lakes condominium ($1,650 lease plus renter's insurance). Owning is $548 a month cheaper on day one; about $54 of the owner's payment is principal in year one. Estimates for comparison only, not financial advice.
Download the Somerset, Lauderdale Lakes fact sheet (PDF, one page) - fees, closed sales, inventory and nearby distances on one sheet, data as of October 18, 2026. Share it or link to it with attribution to PBP Real Estate.
Analyst: Gia Freer, Broker of Record, PBP Real Estate, LLC (Lic. BK689801), available on the record: 561-395-8418.
Nearby Lauderdale Lakes developments to compare with Somerset
Straight-line distance from Somerset; median monthly fee and units on the market from the same daily snapshot.
More live Lauderdale Lakes data
PBP Real Estate analysis of BeachesMLS listings. Refresh is scheduled daily; read each index’s own date and sample.
Method: listings whose MLS subdivision field maps to Somerset after normalization (tower, section and phase records merged; master community plus its enclaves), condominiums by tax legal description (a townhouse, villa or house whose legal records a condominium is included), Lauderdale Lakes, permitted for internet display in PBP Real Estate's BeachesMLS data feed. Active and under-contract figures are from the daily snapshot as of October 18, 2026; closed sales are from a rolling archive and cover October 1, 2025 to September 30, 2026, the last full month, because closings are reported to the MLS with a lag. Fees are as entered by each listing office, converted to a monthly equivalent, with master and sub-association layers summed. Medians require five or more records and percentages ten or more; smaller groups are shown as counts. Remark-based flags are keyword classifications of agent-written text and are not verified. Nothing here is an opinion of value about any property or a statement about any association's finances. The fees displayed are only as accurate as the brokerage that provided them in its individual listings through the multiple listing service. Information is deemed to be reliable but not guaranteed.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright © 2026 BeachesMLS, Inc.
IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated October 18, 2026.
Moving to Broward County
Moving to Somerset? Everything in one place
- Moving to Broward County guide — prices by city updated daily, houses and condos kept separate, homestead and insurance basics, and how to plan the search.
- Search homes for sale in Lauderdale Lakes — live BeachesMLS search; email me new listings.
- Public schools: check the address — Broward County Public Schools assigns schools by address, not by neighborhood name. Check each address in the Broward Find My School locator before you sign.
- All 26 Broward County cities — market data, guides and search for each one.