Hendricks Isle & Isle of Venice Condos & Town Homes Market Analysis

Hendricks Isle & Isle of Venice

CONDOS YEAR OVER YEAR Closed Sale Price values INCLINED—by Median Price 48% to $1,295,000 from $872,500, by Average PRICE 29% to $1,258,378 from $975,400, and LIVING (area) 15% to $452.83 from $393.01.

TOWN HOMES YEAR OVER YEAR Closed Sale Price values INCLINED—by Median Price 13% to $1,275,000 from $1,125,000, by Average PRICE 9% to $1,166,214 from $1,072,129, LIVING (area) 8% to $348.87 from $322.38, and DECLINED slightly by LOT (area) 0.006% to $377.00 from $379.30…

CONDOS CURRENT INVENTORY: 33 listings; Median Price $1,517,642, Average PRICE $1,584,206, LIVING $577.49.

TOWN HOMES CURRENT INVENTORY: 10 listings; Median Price $1,750,000, Average PRICE $1,690,500, LIVING $498.76, and LOT $606.96.

CONDOS PENDING SALES: 35; Median Price $1,581,875, Average PRICE $1,584,206, and LIVING $562.45.

TOWN HOMES PENDING SALES: 0.                                                                 

CONDOS CLOSED SALE VALUE STABILITY: Trail-12 Median Price/Average Price 103%; of the 31 closed sales Trail-12, 45% were Under Average PRICE, and 52% were Under Average LIVING. 

TOWN HOMES CLOSED SALE VALUE STABILITY: Trail-12 Median Price/Average Price 109%; of the seven closed sales Trail-12, 29% were Under Average PRICE, 57% were Under Average LIVING, and 43% were Under Average LOT. 

CONDOS CLOSED SALE VALUES (trail-12)/INVENTORY VARIANCE: Median Closed Sale Price $1,295,000 / Inventory Median Price $1,517,642, Average Closed Sale PRICE $1,258,375 / Inventory Average PRICE $1,584,206, Average Closed Sale LIVING $452.83 / Inventory LIVING $577.49.  Of the 33 current listings 33% are Under Average Closed Sale PRICE, and 27% are Under Average LIVING.

TOWN HOMES CLOSED SALE VALUES (trail-12)/INVENTORY VARIANCE: Median Closed Sale Price $1,275,000 / Inventory Median Price $1,750,000, Average Closed Sale PRICE $1,166,214 / Inventory Average PRICE $1,690,500, Average Closed Sale LIVING $348.87 / Inventory LIVING $498.76, and Average Closed Sale LOT $377.00 / Inventory LOT $606.96.  Of the 10 current listings 10% are Under Average Closed Sale PRICE, 10% are Under Average LIVING, and 0% are Under Average LOT.

CONDOS MARKET TRENDS (trail-12): Days on Market INCLINED to 169 days from 116 (current Inventory DOM 135); Discount (from last list price) DECLINED to 2% from 26%; PRICE/RENT Ratio DECLINED to 18.66 from 19.84 (inclining affordability); Annual Rent INCLINED 37% to $67,425 from $49,154; Rentals/Month DECLINED to 0.67 from 1.08.

TOWN HOMES MARKET TRENDS (trail-12): Days on Market INCLINED to 131 days from 110 (current Inventory DOM 62); Discount (from last list price) INCLINED to 10% from 5%; PRICE/RENT Ratio DECLINED to 17.67 from 18.94 (inclining affordability); Annual Rent INCLINED 17% to $66,000 from $56,600; Rentals/Month DECLINED to 0.08 from 0.50.