Las Olas Grand Market Analysis: Inclining/Stable

Las Olas Grand Market Analysis

Year over year Closed Sale Price Values INCLINED: Median Price 7% to $975,000 from $912,500; Average Price 9% to $1,072,013 from $979,111, and Closed Sale Price/LIVING (area) 8% to $499.28/SqFt from $461.22.

CURRENT INVENTORY: 16 listings (Absorption Rate 10 months); Median Price $1,032,500, Average Price $1,138,469, and LIVING $517.49.  SPREAD (Current Inventory/Closed Sale Values Trail-12): Median Price +6%, Average Price +6%, and LIVING +4%.

PENDING SALES: no sales pending.                                             

MACRO MARKET TRENDS: STABILITY Trail-12 Closed Sale Values: Median Price/Average Price Ratio 91%; of the 19 closed sales, 68% were Under Average PRICE, 47% were Under (Moody’s ‘Long-Run’ Affordability Price/Rent Ratio), and 63% were Under Average LIVING.

MACRO MARKET TRENDS: VALUE Trail-12: Closed Sales (annual) INCLINED to 19 from 14; Days on Market INCLINED to 95 from 80; Discount INCLINED to -4.95% from -4.28%; PRICE/RENT Ratio INCLINED to 17.59 from 15.02, Annual Rent DECLINED 7% to $60,948 from $65,200, and; Rentals INCLINED to 5 from 3.

MICRO MARKET DATA: RANK Closed Sale Price/LIVING by MODEL Trail-36:  Ash South $540.89, Brad South $493.87, Cham North $459.60, Brad North $453.99, Ash North $438.33, Cham South $437.00, and Riverhome $327.77.

MICRO MARKET DATA: RANK Closed Sale Price/LIVING by FLOOR Trail-36: HIGH $496.91, MID $476.13, and LOW $423.21.