The Citrus Isles (Ft Lauderdale) Market Analysis: New High

The Citrus Isles (Ft Lauderdale)

The new historical HIGH was made in August, $122.64/LOT (area) on Citrus Isle; the previous high was October 2013 on Mandarin Isle, $122.17.  The LOW was April 2013 on Avocado Isle, $22.50.

Year over year, Closed Sale Prices/LOT (area) INCLINED 9% to $71.25 from $64.50, MEDIAN DECLINED 22% to $457,500 from $586,500; AVERAGE DECLINED 33% TO $493.250 from $707.935, LIVING (area) DECLINED 9% to $304.26 from $334.06, and; WATER (front) INCLINED 39% to $7,516 from $4,440.

Current Inventory: 8 listings MEDIAN $561,500, AVERAGE $661,975, LOT $93.20, LIVING $480.48 and WATER $9,843.

Of the 16 closed sales trailing-12 months, 59% of the values (PRICE, LOT, WATER and LIVING) were UNDER AVERAGE (50% trail-24-13 months; 56% trail-36-25). 

Current Inventory UNDER AVERAGE (Trail-12 Closed Sale Price Values): 9%.

Year over year, Average Days on Market DECLINED to 125 days from 156 (current Inventory DOM: 188 days); Discount (from last list price) DECLINED to 5% from 10%; the PRICE/RENT Ratio DECLINED to 21.46 from 23.94 (improving affordability); the pace of rentals DECLINED to .25/month from .58/month; average ANNUAL RENT DECLINED 22% to $22,980 from $29,571, and; Trend Line Post-Trough-Low Closed Sale Price/LOT SLIGHT INCLINING $52 (LOW $22/LOT Apr’10) to $81 (last closed sale $66/LOT Nov’15).

Zero property is Pending Sale.

MICRO DATA: Rank Closed Sale/LOT TRAIL-60  by ISLE/DOCK-FACE(1) Tangelo $97.54/LOT Point West (2) Mandarin $93.11 South Center Isle (3) Citrus $84.32 South West End Canal (4) Citrus $72.83 Pt SW (5) Tangelo $63.99 N Cen (6) Avocado $63.95 N Cen (7) Orange $58.43 N Cen (8) Guava $56.14 N Cen (9) Mango $55.83 N Cen (10) Tangelo $54.95 S Cen (11) Mandarin $54.39 N Cen (12) Citrus $54.36 S Cen (13) Avocado $52.66 S Cen (14) Mango $51.04 S Cen (15) Avocado $50.80 NW End (16) Orange $50.64 S Cen (17) Guava $44.69 S Cen (18) Orange $32.00 SE End (19) Mandarin $28.77 (20) Avocado $22.50 SE End.