Riviera Isles (Ft Lauderdale) Market Analysis: Year Over Year Property Values

Riviera Isles

Year over year MEDIAN Closed Sale Price DECLINED 15% to $1,300,000 from $1,529,025, and (as a result of the June 2014 $12,500,000 sale at 1000 Riviera Drive) DECLINED by AVERAGE Closed Sale Price 49% to $1,644,286 from $3,246,289 and DECLINED by LIVING (area) 43% to $493.76 from $865.28, but INCLINED by LOT (area) 6.5% to $208.49 from $194.94 and INCLINED by WATER (front foot) 39% to $24,334 from $17,520.

Average Days on Market DECLINED to 200 from 280; Average Discount (from last list price) INCLINED to 10% from 7%; sales closed UNDER AVERAGE VALUE (by Price, by Lot, by Living, by Water) DECLINED to 50% from 71%.

Closing frequency continues STEADY—seven closed sales trail-12, seven closed sales trailing months 24 to 13 (five closed sales trail-six months, three closed sales trail-three months).

Year over year Annual RENT DECLINED 29% to $78,000 from $109,800 which DECLINED the Price/Rent Ratio to 21.08 from 29.57.

MACRO Trend Line Post-Trough-Low Closed Sale Price/Lot continues INCLINE from $120/LOT (LOW $67/LOT Nov’12) to $220 (last closed sale $208/LOT Aug’15).

Micro Data RANK Value by closed sales TRAIL-60 months by LOT/ISLE/DOCK: (1) $303.03/LOT Rivera Isle Dock facing South; (2) $218.70 Rivera Points; (3) $204.00 Flamingo East; (4) $182.40 Rivera West; (5) $180.04 Solar Plaza Points; (6) $173.75 Flamingo West; (7) $151.97 Solar Plaza North; (8) $139.41 Solar Isle East; (9) $135.44 Rivera East, and; (10)$102.94 Solar Isle West.

Micro Data Values by closed sales TRAIL-60 months by DOCK/LOT: West $155.16 (21 sales); East $140.97 (10 sales).

Current Listings 6; Under Average Value Closed Sales Trail-12: 25%.