Las Olas Grand (Fort Lauderdale) Market Analysis

Las Olas Grand (Fort Lauderdale) Market Analysis

Closed Sale Value trailing-12 months INCLINED by LIVING (area) 2.16 % to $461.22 from $451.45—continuing 60 months of inclining values since the 2010 Trough Low, but DECLINED by PRICE 1.48% to $979,111 from $993,830.

Closings frequency is steady: 49 closings trailing-36 months; 32 closings trailing-24; 14 closings trailing-12, and;  seven closings trailing-six. 

One condo is pending sale (LIVING $568.88, and; PRICE $1,499,000).

ANNUAL RENT trailing-12 INCLINED 17.60% to $65,200 from $55,440 which bent down PRICE/RENT RATIO (15.02) under Moody’s Long-Run Affordability.  frequency has slowed:  15 rentals trailing-36, 10 rentals trailing-24, and three rentals trailing-12.

MACRO Trend Line Post Trough Low Closed Sale Price/LIVING $300 (LOW $221.79 September 2010) to $480 (HIGH $609.61 January 2013).

MICRO CLOSED SALES DATA trailing-36: Rank by Condo MODEL by PRICE: Custom 2, Ash South, Ash North, Riverhome, Cham South, Cham North, Brad South, Brad North, Custom 1; Rank by LIVING: Custom 2, Ash South, Brad South, Brad North, Cham South, Cham North, Ash North, Riverhome, Custom 1.

MICRO CLOSED SALES DATA trailing-36: UNDER MARKET (Trail-12 Values) by MODEL by PRICE: Custom 2 0%, Ash South 0%, Ash North 14%, Riverhome 50%, Cham South 100%, Cham North 100%, Brad South 100%, Brad North 100%, Custom 1 100%; by LIVING: Custom 2 0%, Ash South 0%, Ash North 86%, Riverhome 100%, Cham South 100%, Cham North 100%, Brad South 63%, Brad North 80%, Custom 1 100%; by PRICE/RENT:  Custom 2 0%, Ash South 0%, Ash North 43%, Riverhome 75%, Cham South 100%, Cham North 100%, Brad South 100%, Brad North 100%, Custom 1 100%;.  TOTAL UNDER MARKET 97/127 SHARE 75%.

MICRO CLOSED SALES DATA trailing-36: Rank by FLOOR by PRICE:  High (18 up) $1,058,844; Mid (8-17) $888.194, Low (1-7) $862,692; by LIVING: High $468.55, Mid $429.77, Low $371.73.

CURRENT INVENTORY: seven listings.  UNDER MARKET: 10/28 SHARE 35.71.