River House Las Olas Market Analysis: Decelerating/Declining

River House Las Olas

YEAR OVER YEAR Closed Sale Price values DECLINED by Median Price 2% to $786,000 from $800,000, by Average PRICE 18% to $771,457 from $941,321, and by LIVING (area) slightly $477.57 from $477.85.

CURRENT INVENTORY: 34 listings; Median Price $984,000, Average PRICE $1,518,541, and LIVING $693.95.

SPREAD (Current Inventory/Closed Sale Values Trail-12): Median Price 25%, Average PRICE 97%, and LIVING 45%.

TOTAL TRAIL-12 INVENTORY: 56 listings; Median Price $609,500, Average PRICE $1,274,686, and LIVING $642.50.

SPREAD (TOTAL TRAIL-12 INVENTORY/Closed Sale Values Trail-12): Median Price -22%, Average PRICE 65%, and LIVING 35%.

PENDING SALES: 0.

STABILITY Trail-12 Closed Sale Values: Median Price/Average Price 102%; of the 23 closed sales, 39% were Under Average PRICE, and 39% were Under Average LIVING. 

MARKET TRENDS Trail-12: Closed Sales/Month DECLINED to 1.92 from 2.33 (from 2.83 Trailing Months 36-25), Days on Market DECLINED to 77 days from 133; Discount (from last list price) DECLINED to -4.07% from -6.81%; PRICE/RENT Ratio DECLINED to 14.14 from 18.46 (increasing affordability); Annual Rent INCLINED 7% to $54.545 from $51,000; Rentals/Month INCLINED to 0.92 from 0.17.

RANK Trail-12 Closed Sale Value by LIVING by MODEL/STACK:  Soho 01 $528.28, Lexington 03 $521.67, Chelsea 02 $521.24, Soho 08 $486.65, Custom 05 $480.68, Columbus 05 $475.52, Custom 08 $455.07, Lexington 06 $452.78, Columbus 04 $443.64, Chelsea 07 $394.22.

RANK Trail-36 Closed Sale Value by LIVING by MODEL/STACK:  PH 02 $568.98, PH 06 $548.76, Madison 07 $505.50, 5th Av 06 $495.45, Columbus 05 $487.55, Custom 05 $480.68, Soho 01 $480.66, Chelsea 02 $476.94, Soho 08 $459.37, Custom 08 $455.07, Park 10 $446.13, Columbus 04 $434.38, Madison 02 $434.16, Chelsea 07 $429.26, Lexington 03 $418.45, Lexington 06 $412.00, Gramercy 09 $411.99, Custom 06 $299.69.