Waverly Las Olas (Ft Lauderdale) Market Analysis

Waverly Las Olas (Ft Lauderdale) Market Analysis

Year over year, MEDIAN Closed Sale Price DECLINED 2% to $315,000 from $322,000; AVERAGE Closed Sale Price INCLINED 1% TO $302,698 from $298,387, and; average Closed Sale Price/LIVING (area) INCLINED 10% TO $257.78 from $235.38.

Current Inventory: 16 listings MEDIAN PRICE $355,000 AVERAGE PRICE $351,206 LIVING $284.93.

Of the 32 sales trailing 12 months, 44% of closed sale values (PRICE and LIVING) were UNDER AVERAGE (45% trail-24 -13; trail-6-4 50%, trail-3-1 50%). 

Current Inventory UNDER AVERAGE (Trail-12 Closed Sale Prices): 13%.

Average Days on Market INCLINED to 90 days from 62.  Current Inventory DOM: 53 days.

Discount (from last list price) INCLINED to 4.7% from 4.1%.

Year over year the PRICE/RENT DECLINED to 11.42 from 12.02 which improves affordability (Moody’s ‘Long-Run’ Affordability: 16.00).  Pace of rentals INCLINED to 4.75/month from 4.58.  Average ANNUAL RENT INCLINED 7% to $26,754 from $24,823.

One Condo is Pending Sale ($249,000 PRICE, $319 LIVING).

MACRO Trend Line Post-Trough-Low Closed Sale Price/LIVING INCLINE $120 (LOW $88 Nov’10) to $240 (last closed sale $302 Sep’15).

Micro Data RANK Closed Sale Value TRAIL-12 by View/Floor/LIVING: (1) SE HIGH $242 (2) N LOW $218 (3) POOL LOW $217 (4) POOL HIGH $207 (5) W HIGH $203 (6) S LOW $203 (7) W LOW $199 (8) S HIGH $194 (9) E LOW $193 (10) E HIGH $189 (11) NE HIGH $189 (12) NE LOW $179 (13) N HIGH $178 (14) SW PH $106.