NEW HIGH: Victoria Park South (Ft Lauderdale) Market Analysis

Victoria Park South

The new historical HIGH (single family homes) was made last May, $228.17/LOT (area) in Victoria Park South (of NE 6th St); the LOW $21.60 was October 2011. 

Year over year Closed Sale Price VALUES all INCLINED: Median Price 6% to $610,000 from $575,000; Average Price 13% to $644,833 from $570,059; LOT 27% to $92.61 from $72.97, and; LIVING 2% to $350.44 from $344.29.

Current Inventory, 23 listings: Median Price $700,000; Average Price $738,992; LOT $98.16, and; LIVING $357.71.

Pending Sales, four properties: (last list price) Average $654,475; LOT $107.12, and; LIVING $347.20.

Of the 45 closed sales trail-12 months, 61% of the Values (PRICE, LOT and LIVING) were UNDER the AVERAGE (59% trail-24-13 months; 58% trail-36-25 months). 

Current Inventory UNDER AVERAGE (Trail-12 Closed Sale Price Values): 33%.

Year over year, Average Days on Market INCLINED to 104 days from 98 (current Inventory DOM: 121 days); Discount (from last list price) INCLINED to 4.49% from 4.09%; the PRICE/RENT Ratio INCLINED to 15.70 from 15.67 (improving affordability); the pace of rentals DECLINED to 2.42/month from 2.75/month; average ANNUAL RENT INCLINED 13% to $41,077 from $36,378, and; Trend Line Post-Trough-LOW Closed Sale Price/LOT INCLINE $65 (LOW $21.60/LOT Oct’11) to $92 (last closed sale $71.96/LOT Nov’15).

MICRO DATA: Rank Closed Sale TRAIL-12 by PRICE SouthWEST (NE 15th Av) $621,793, SouthEAST $686,594; by LOT SouthWEST $87.19, SouthEAST $103.14; by LIVING SouthWEST $346.16, SouthEAST $357.71.

MICRO DATA: Rank Closed Sale TRAIL-60 by PRICE SouthWEST (NE 15th Av) $663302, SouthEAST $612,206; by LOT SouthWEST $73.74, SouthEAST $82.25; by LIVING SouthWEST $299.94, SouthEAST $299.16.