Victoria Park South Market Analysis

Victoria Park Single Family South Real Estate Market Trends Sales

Closed Sale PRICE declined trailing-12 months nine percent to $543,564 from $597,205, and Closed Sale LOT declined five percent to $74.76/SqFt from $78.91—the first PRICE and LOT declines since the 2011 LOW.  Closed Sale LIVing continued inclining five percent to $330.05.

Annual RENT declined seven percent to $30,005.  The Sales PRICE/Annual RENT RATIO 18.12 continues declining towards Moody’s “Long-Run” Affordability (16.00).

Closings frequency continue steady:  97 closings trailing-24; 40 closings trailing-12, and; 26 closings trailing-six.  The three properties pending sale (PRICE, $732,967, LOT $108.85, LIVing $421.16) may foreshadow inclining value.

MACRO Post-Low TRENDLINE Closed Sale LOT: INCLINE $75 to $81.

MICRO Closed Sales Data trailing-12:  SouthWEST (SE 6th St South to Broward by SE 14th Av West to Federal) PRICE $577,650, LOT $77.98, LIVing $324.00, DOM 87, CLOSINGS 22; SouthEAST (SE 6th St South to Broward by SE 14th Av East to Victoria Park Road) PRICE $501,903, LOT $70.65, LIVing $338.96, DOM 115, CLOSINGS 18.

MICRO Closed Sales Data trailing-12 months Under-Market: SouthWEST PRICE 11/22, LOT 11/22, LIVing 12/22; SouthEAST PRICE 11/18, LOT 12/18, LIVing 10/18.  PRICE/RENT RATIO: SouthWEST 11 over 11 under; SouthWEST 8 over 10 under.

Micro TRENDLINE Closed Sale LOT trailing-12: SouthWEST INCLINE $60 to $100; SouthEAST DECLINE $78 to $65.  

LISTINGS: TOTAL 24; SouthWEST 9 SouthEAST 15.  BEST VALUE: SouthWEST ADDRESS 426 NE 8th Av PRICE $525,000 LOT $64.81 LIVing $387.74, PRICE/RENT 17.50; SouthEAST ADDRESS 315 NE 15TH Av PRICE $395,000 LOT $63.20 LIVing $363.39 PRICE/RENT 13.16.