River House Las Olas Market Analysis…

River House Las Olas

Year over year MEDIAN Closed Sale Price INCLINED 15% to $840,000 from $710,000 while AVERAGE Closed Sale Price DECLINED 4% to $844,613 from 883,625, and more significantly, Closed Sale Price/LIVING (area) INCLINED 7% to $487.33 from $452.54, and of the 31 closed sales Values Under Average DECLINED to 56% from 66%.

Average Days on Market DECLINED to 127 from 135; Discount (from last list price) DECLINED to 6% from 8%; closings frequency INCLINED to 31 from 28 (18 trail- 6, 12 trail-3); Price/Rent Ratio DECLINED to 14.53 from 18.87 because Average Annual Rent INCLINED 19% to $58,133 from $46,832.

Current Listings 18: Average Price $999,000, Average LIVING $563.94, 25% Under Average Trail-12 Values, Average DOM 149.  Pending Sales 1: Last List Price $649,000, LIVING $563.94.

MACRO Trend Line Post-Trough-Low Closed Sale Price/LIVING INCLINE $220 (LOW $163 Aug’09) to $500 (last closed sale $522 Sep’15).

Micro Data RANK Closed Sale Value TRAIL-12 by LIVING/Model/Stack: (1)Madison-07 $651 (2) Columbus-05 $512 (3) Soho-01 $511 (4) Chelsea-02 $509 (5) Lexington-03 $484 (6) Soho-08 $482 (7) Columbus-04 $472 (8) Custom $455 (9) Lexington-06 $441 (10) Gramercy-09 $422 (11) Chelsea-07 $394.

Micro Data RANK Closed Sale Value TRAIL-60 by LIVING/Model/Stack: (1) PH-02 $569 (2) PH-06 $549 (3) Madison-07 $463 (4) PH-07 $459 (5) Soho-08 $419 (6) Chelsea-02 $411 (7) 5th Av-06 $409 (8) Soho-01 $405 (9) Columbus-05 $402 (10) Park-10 $385 (11) Lexington-06 $372 (12) Madison-02 $369 (13) 5th Av-03 $351 (14) Chelsea-07 $344 (15) Lexington-03 $342 (16) Columbus-04 $340 (17) Gramercy-09 $322 (18) Custom $316 (19) Park-2 $206.