Las Olas Grand Market Analysis: Inclining/Stable

Las Olas Grand

YEAR OVER YEAR Closed Sale Price values INCLINED—by Median Price 8% to $945,750 from $878,750, by Average PRICE 25% to $1,076,224 from $861,837, and by LIVING (area) 8% to $483.12 from $448.64.

CURRENT INVENTORY: 8 listings; Median Price $1,135,000, Average PRICE $1,238,500, and LIVING $582.31.

SPREAD (current inventory/closed sale values trail-12): Median Price +20%, Average PRICE +15%, and LIVING +21%.

PENDING SALES: 3; Median Price $1,025,000, Average PRICE $1,186,333, and LIVING $558.27.

CLOSED SALE VALUE STABILITY: Trail-12 Median Price/Average Price 88%; of the 19 closed sales Trail-12, 63% were Under Average PRICE, and 63% were Under Average LIVING. 

MARKET TRENDS (trail-12): Closed Sales/Month INCLINED to 1.58 from 1.25, Days on Market INCLINED to 110 days from 50 (current Inventory DOM 61); Discount (from last list price) INCLINED to 5% from 4%; PRICE/RENT Ratio INCLINED to 16.25 from 15.39 (slightly declining affordability); Annual Rent INCLINED 18% to $66,228 from $56,000; Rentals/Month INCLINED to 0.42 from 0.25.

RANK Trail-36 Closed Sale Value by MODEL by LIVING: Ash South $536.15, Brad South $467.41, Ash North $438.33, Cham North $436.38, Brad North $434.56, Cham South $418.69, Riverhome $330.84.

RANK Trail-12 Closed Sale Value by MODEL by LIVING: Ash South $586.65, Brad South $518.40, Brad North $495.40, Cham North $477.25, Cham South $440.85, Ash North $435.96.