Symphony Condo Market Analysis

Symphony Condo

Closed Sale PRICE trailing-12 months inclined 3.26% to $408,818 from $395,481, and Closed Sale LIVing inclined 3.33% to $325.97/SqFt from $325.11 which continued the value incline since the 2010 LOW ($148.40/LIVSqFt).  However, Closed Sale PRICE trailing-6 months declined 3.25% to $395,514, and Closed Sale LIVing declined 1.08% to $322.43.

Annual RENT trailing-12 inclined 0.7% to $28,353 from $28,133.  Sales PRICE/Annual RENT RATIO 14.42 trailing-12 continues inclining towards Moody’s “Long-Run” Affordability (16.00).

Closings frequency continue steady:  66 closings trailing-24; 34 closings trailing-12, and; 22 closings trailing-six.  The three properties pending sale (PRICE, $547,967, LIVing $350.14) ease trailing-12 value concern.

MACRO Trends: Post-Low TRENDLINE INCLINE--$200 to $300/LIVing.

MICRO Closed Sales Data trailing-24:  Rank HIGH PRICE Ensemble 8 NE View $875,000; Rank HIGH LIVing Dolce 3 NE View (2) $391.70; Rank LOW PRICE Aria 2 South View $243,750; Rank LOW LIVing Dolce 1 SW View $241.64.

MICRO Closed Sales Data trailing-24 (66 Closed Sales): Under Market 42 under PRICE, 37 under LIVing; PRICE/RENT over Long-Run Affordability 19, under 47.

LISTINGS: TOTAL 16; BEST VALUE: 600/309 PRICE $429,000, LIVing $303.18, PRICE/RENT 15.25.