Nurmi Isles Market Analysis: Accelerating/Inclining

Nurmi Isles

While YEAR OVER YEAR Median Price DECLINED one percent from $2,400,000 to $2,375,000,  Closed Sale Price Values INCLINED by Average PRICE 7% to $2,808,523 from $2,631,679, by Closed Sale Price/LOT (area) 7% to $225.18/SqFt from $211.02, by Closed Sale Price/LIVING (area) 32% to $624.41/SqFt from $474.64, and by WATER (front) 13% to $24,364/LF from $21,546.

CURRENT INVENTORY: 19 listings; Median Price $3,495,000, Average PRICE $3,789,830, LOT $322.17, LIVING $754.92, and WATER $36,738.

SPREAD (Current Inventory/Closed Sale Values Trail-12): Median Price +47%, Average PRICE +35%, LOT +43%, LIVING +21%, and WATER +51%.

ALL INVENTORY TRAIL-12: 32, Median Price $3,181,944, Average PRICE $3,676,587, LOT $309.73, LIVING $712.28, and WATER $34,911.

SPREAD (All Inventory Trail-12/Closed Sale Values Trail-12): Median Price +34%, Average PRICE +31%, LOT +38%, LIVING +14%, and WATER +43%.

PENDING SALES: 2, Average PRICE $2,947,500, LOT $245.63, LIVING $568.03, and WATER $29,475.

MACRO MARKET TRENDS: STABILITY Trail-12 Closed Sale Values: Median Price/Average Price 85%; of the 11 closed sales, 58% were Under Average PRICE, 67% were Under Average LOT, 50% were Under Average LIVING, and 58% were Under Average WATER. 

MACRO MARKET TRENDS Trail-12: Year Built DECLINED to 1977 from 1993; Closed Sales/Month INCLINED to 0.92 from 0.58; Days on Market DECLINED to 148 days from 397; Discount (from last list price) INCLINED to -11.59% from-10.51%; PRICE/RENT Ratio INCLINED to 44.58 from 30.46; Annual Rent DECLINED 27% to $63,000 from $86,400; Rentals/Month REMAINED 0.17.

MICRO MARKET DATA: RANK Closed Sale Value Trail-36 by LOT/ ISLE/Dock-Face: Isle Nurmi Dock Face East Closed Sale/LOT $297.93, Royal East $267.46, Fiesta East $234.32, Nurmi West $233.29, Royal West $195.37, Fiesta West $177.13.