Riviera Isles Market Analysis: Scant/Declining/Unstable

Riviera Isles

YEAR OVER YEAR Closed Sale Price values DECLINED—by Median Price 44% to $1,500,000 from $2,675,000, by Average PRICE 57% to $1,830,000 from $4,292,000, and by LIVING (area) 30% to $579.27 from $829.56, and INCLINED by LOT (area) 12% to $246.29 from $220.79, and by WATER (front feet) 33% to $28,299 from $21,248.

Trail-12 INVENTORY: 15 listings; Median Price $1,174,000, Average PRICE $2,312,333, LIVING $678.02, LOT $271.21, and WATER $34,105.

SPREAD Trail-12 INVENTORY/Closed Sale Value): Median Price -22%, Average PRICE +26%, LIVING +17%, LOT +10%, and WATER +21%.

PENDING SALES: 1; Median Price $1,590,000, Average PRICE $1,590,000, and LIVING $387.52, LOT $238.52, and WATER $30,000.

STABILITY Trail-12 Closed Sale Value: Median Price/Average Price 82%; of the six closed sales, 67% were Under Average PRICE, 33% were Under Average LIVING, 67% were Under Average LOT, and 50% were Under Average WATER. 

MARKET TRENDS Trail-12): Closed Sales/Month INCLINED to 0.50 from 0.42, Days on Market DECLINED to 228 days from 378 (INVENTORY 75); Discount (from last list price) INCLINED to 10% from 7%; PRICE/RENT Ratio INCLINED to 00.00 from 00.00 (slightly inclining/declining affordability); Annual Rent INCLINED 0.00% to $0.00 from $0.00; Rentals/Month INCLINED to 0.00 from 0.00 (no rentals trailing-36 months).

RANK Trail-36 Closed Sale Value by LOT by DOCK-FACE: South $303.03, PtNE $257.94, PtSE $236.31, W $171.00, E $157.44, N $151.97, and PtNW $135.09

RANK Trail-36 Closed Sale Value by LOT by DOCK-FACE by ISLE: Riviera S $303.03, Sol Pla PtNE $257.94, Riviera PtSE $236.31, Flamin E $204.00, Riviera W $198.50, Flamin W $185.32, Sol Isl E $156.17, Sol Pla N $151.97, Riviera E $151.22, Sol Isl W $138.16, Riviera PtNW $135.91, Sol Pla PtNW $134.26.