Las Olas Isles Market Analysis

Las Olas Isles Market Analysis

MEDIAN Closed Sale Price Trailing-12 Months DECLINED 13% to 1,500,000 from $1,725,000; AVERAGE Closed Sale Price DECLINED 29% to $1,481,125 from $2,087,588; DECLINED by LOT (area) 20% to $146.71 from $183.90; INCLINED by LIVING (area) 4% to $582.09 from $557.09 (declined trail-6 to $556.13), and; DECLINED by WATER (front) 13% to $17,554 from $20,164. 

Trail-12 Average Days on Market DECLINED to 128 from 195; Average Discount (from last list price) inclined to 10% from 7%.

Sales closed UNDER AVERAGE VALUE (by PRICE, LOT, LIVING, WATER) DECLINED to 56% from 62% (trail-6 declined to 55%, trail-3 declined to 50%). 

Closing frequency trail-12 declined slightly to eight closed sales; trail 24-13 months 17 closed sales; trail-36-25 months 24 closed sales; trail-48-37 months 17 closed sales, and; trail 60-49 months 19 closed sales.

Annual Rent trail-12 DECLINED 27% to $71,899 from $99,120, which DECLINED the Price/Rent Ratio to 20.60 from 21.06.

MACRO Trend Line Post Trough Low Closed Sale Price/LOT INCLINED from $135 (LOW $55.06 Feb’12) to $180 (last closed sale $193.75 Jul’15).

Micro Data RANK Value by closed sales trailing-36 by LOT/ ISLE/DOCK FACE: W Coral $235.40, E Coral $223.59, W Marco $200.10, E Marco $186.96, W Palms $177.16, W Coconut $164.02, W Royal $160.71, W Capri $159.49, W Lido $145.15, E Bontona $144.02, W Bontona $143.24, E Lido $139.39, E Coconut $136.35, E Royal $136.01, E Capri $128.49, E Mola $120.75 and E Palms $112.39.

Micro Data RANK Value by closed sales trailing-36 by LOT/DOCK FACE: (1)East Lido, Marco, Coral, Royal, Palms $172.93; (2) West Lido, Marco, Coral, Royal, Palms $169.02; (3)Points and Long Water $166.39; (4) West Mola, Capri, Bontona, Coconut $160.05, and; (5) East Mola, Capri, Bontona, Coconut $134.73.

Micro Data RANK Value by closed sales trailing-36 LOT/DOCK FACE/UNDER AVERAGE VALUE: (1) East Mola, Capri, Bontona, Coconut 66%; (2) West Mola, Capri, Bontona, Coconut 60%; (3) West Lido, Marco, Coral, Royal, Palms 52%; (4) East Lido, Marco, Coral, Royal, Palms 50%, and; (5) Points and Long Water 38%.

Current Listings 28 UNDER AVERAGE VALUE closed sales trail-12: 10%.