Las Olas Isles Market Analysis

Las Olas Isles

Closed Sale PRICE declined trailing-12 months 15% to $1,967,500 from $2,332,684—the first PRICE decline since the 2011 LOW.  Closed Sale LOT continued inclining slightly (.07%) to $167.26/SqFt; Closed Sale LIVing declined 11% to $506.82, and; Closed Price/Water inclined 3% to $18,023. 

Annual RENT inclined 4% to $76,114.  The Sales PRICE/Annual RENT RATIO, 24.84 is nearly nine points above Moody’s “Long-Run .”

Closings have dwindled to two trailing-six months (from 12 closings trailing-12, and 34 closings trailing-24).  The three properties pending sale (averages: PRICE, $1,249,667, LOT $113.84, LIVing $549.06, Water $13,633) foreshadow continuing decline.

Macro Post-LOW Trendline Closed Sale LOT: INCLINE $145-$175 (17%).

MICRO Closed Sales Data Trailing-36 months EAST Dock-Face: Mola, Capri, Bon, Coco (12 Closings)—PRICE $1,740,407, LOT $140.05, LIVing $$487.88, Water $13,970; Lido, Marco, Coral, Royal, Palms (13 Closings)—PRICE $2,918,635, LOT $167.69, LIVing $620.33, Water $18,025.  Trailing-36 WEST Dock-Face: Mola, Capri, Bon, Coco (5 Closings)—PRICE $1,397,400, LOT $159.14, LIVing $463.05, Water $19,517; Lido, Marco, Coral, Royal, Palms (19 Closings)—PRICE $2,132,895, LOT $178.31, LIVing $519.40, Water $18,420.

MICRO Closed Sales Data Trailing-36 months Under-Market (Total 157/246) Most: EPalms 10/10, ECapri 9/10, WCapri 4/5.  Least: WPalms 5/15, EMola 2/5, ELido 2/5. 

Micro Trendline LOT RANKING: Lido, Marco, Coral, Royal, Palms EAST-Face INCLINE $125-$200 (37.5%), Lido, Marco, Coral, Royal, Palms WEST-Face INCLINE $145-$205 (29.2%), Mola, Capri, Bon, Coco EAST-Face INCLINE $140-$155 (9.6%), Mola, Capri, Bon, Coco WEST-Face INCLINE $155-$165 (6.1%).

LISTINGS: 28 (Most WMarco 5, ERoyal 4, WRoyal 3, W Capri 3); Under-Market:  WCoco 2, ECoral 2.  Under “Long-Run”: WCoco 2.  BEST VALUE: EMola, $1,450,000, $128.56/LOT, $1,081.28/LIVing, $14,500 Water.