Waverly Las Olas Market Analysis

Waverly Las Olas Fort Lauderdale

Closed Sale Condo PRICE declined trail-12 months slightly to $313,663 from $314,514—the first PRICE decline since the November 2010 LOW.  However, Closed Sale LIVing continued inclining to $247.39/SqFt.  Annual RENT continued inclining to $25,341.  Current Sales PRICE/Annual RENT RATIO is nearly four points below Moody’s Long-Run Affordability Ratio (16.00).

Condos continue closing steadily: trail-24, 43 condos closed; trail-12, 23 condos closed, and; trail-six, 11 condos closed.  PENDING SALE: four (average PRICE, $300,625 and LIVing, $250.31/SqFt).

MACRO TRENDLINE: Condo Post-Low (Nov’10), $110-$380/LIVSqFt.

MICRO Closed Sales Data RANK by VIEW by LIVing trail-24: Low Pool ($258.43), High East ($256.10), Low East ($253.53), High West ($247.84), High Pool ($245.15), Low South ($234.02), High South ($230.30), High North ($218.23), Low West ($195.62), Low North (179.72).

MICRO TRENDLINE by VIEW: INCLINE, Low East, Low Pool, Low South, High South; DECLINE, High East, High Pool.

LISTINGS: seven (1 Low Pool, 2 Low East, 3 High Pool, 1 Low South, 1 High South)—one UNDERMARKET by PRICE; none UNDERMARKET by LIVing.  Seven of eight listed under Long-Run.  BEST VALUE—Condo 835 Low South View $234,900. $281.32/LIVSqFt.