River House Las Olas Market Analysis

River House Las Olas Market Analysis

CLOSED SALE VALUE trailing-12 months INCLINED by PRICE 6.64% to $949,339 from $886,287 and by LIVING 5.18% to $479.00 from $454.18.

The February sale of (Madison) Condo 3607 at $651.14 made a NEW Closed Sale Price/LIVING HIGH; the previous high ($609.76) was made in April 2006.

Closings frequency is steady: 62 closings trailing-24 months; 31 closings trailing-12; 15 closings trailing-six. 

Three condos are pending sale (PRICE, $649,000, LIVING $499.87).

RENTS trailing-12 INCLINED 5.80% to $51,032 from $48,233 (rentals frequency is steady: 36 trailing-24, 19 trailing-12).

PRICE/RENT RATIO:  trailing-24, 18.37; trailing-12, 18.60.

MACRO Trend Line Post-LOW ($162.72 August 2009): INCLINE $220 to $490.

MICRO Data trailing-24: Rank Closed Sale LIVING by Model: PH ($568.98), 5th Ave ($522.11), Madison ($481.82), Columbus ($470.17), Soho ($461.63), Chelsea ($460.29), Park ($446.13), Gramercy ($411.49), Lexington ($406.28).

MICRO Data trailing-24: Rank Closed Sale PRICE by Model: PH ($2,850,000), 5th Ave ($1,665,000), Park ($1,445,000), Madison ($1,313,429), Columbus ($1,001,000), Gramercy ($881,010), Lexington ($759,339), Chelsea ($700,556), Soho ($535,909).

MICRO Data UNDERMARKET trailing-24 by PRICE: 42/62; by LIVING 36/62; PRICE/RENT 30/62; TOTAL 107/186 (57.53%)

MICRO Trend Lines by Model Closed Sale LIVING trailing-24: Madison $390-$580, Columbus $440-$510, Soho $410-$510, Chelsea, $440-$480, Gramercy $390-$430, Lexington $375-$450.

CURRENT INVENTORY, 12 listings; five Columbus, three Soho, one each Park, Madison, Lexington, Custom. UNDERMARKET by PRICE: three Solo; by LIVING: None.