Rio Vista Isles Market Analysis: Inclining/Unstable

 

Rio Vista Isles

Year over year Closed Sale Price Values INCLINED: Median Price slightly to $2,000,000 from $1,990,000; Average Price 72% to $3,704,538 from $2,148,085, Closed Sale Price/LOT (area) 28% to $233.49/SqFt from $182.55, Closed Sale Price/LIVING 60% to $905.04 from $564.33, and Closed Sale Price/WATER 14% to $28,521/WfFt from $25,046.

CURRENT INVENTORY: 9 listings (Absorption Rate 12 months); Median Price $3,195,000, Average Price $4,598,222, LOT $358.19, LIVING $922.58, and WATER $33,673.  SPREAD (Current Inventory/Closed Sale Values Trail-12): Median Price +60%, Average Price +24%, LOT +53%, LIVING +2%, and WATER +18%.

PENDING SALES: none.

MACRO MARKET TRENDS: STABILITY Trail-12 Closed Sale Values: Median Price/Average Price Ratio 54%; of nine closed sales trail-12, 78% were Under Average PRICE, 56% were Under Moody’s ‘Long-Run’ Affordability Price/Rent Ratio, 67% were Under LOT, 78% were Under LIVING, and 56% were Under WATER.

MACRO MARKET TRENDS: VALUE Trail-12: Closed Sales (annual) DECLINED to nine from 17; Days on Market DECLINED to 88 from 98; Discount INCLINED to -24% from -9%; PRICE/RENT Ratio DECLINED to 23.34 from 42.12, Annual Rent INCLINED 211% to $158,700 from $51,000, and; Rentals INCLINED to 2 from 1.

MICRO MARKET DATA: RANK Closed Sale Price/LOT by STREET/ISLE by DOCK-FACE Trail-36 Months (Top Five): SE 9th Street/Isle Northeast Point Dock-Face $406.01/SqFt, SE 8th S $244.80, SE 7th N $213.94, SE 10th S $202.29, and SE 8th N $198.11; (Bottom Five) N Rio NR $120.29, SE 10th N $125.25, SE 11th S $144.70, Cordova E $156.16, and SE 11th N $167.48.