Hendricks Isle & Isle of Venice Market Analysis: Inclining/Stable

Hendricks Isle & Isle of Venice

Year over year all CONDOS and TOWN HOMES Closed Sale Price Values INCLINED.  CONDOS Median Price inclined 54% to $1,306.800 from $851,000, Average Closed Sale Price inclined 61% to $1,350,789, and Average Closed Sale Price/LIVING inclined 39% to $486.86 from $350.14.  TOWN HOMES Median Price inclined 100% to $1,252,000 from $625,000, Average Closed Sale Price inclined 48% to $1,252,000, Average Closed Sale Price/LIVING inclined 35% to $366.59 from $272.45, and Average Closed Sale Price/LOT inclined 27% to $423.92 from $332.90.

CURRENT INVENTORY: CONDOS 28 listings (Absorption Rate 7 months); Median Price $1,537,305, Average Price $1,580,014, LIVING $552.28.  TOWN HOMES 11 listings (Absorption Rate 13 months); Median Price $1,475,000, Average Price $1,515,000, LIVING $449.11, and LOT $501.28.  SPREAD (Current Inventory/Closed Sale Values Trail-12): CONDOS Median Price +18%, Average Price +17%, and LIVING +13%; TOWN HOMES Median Price +18%, Average Price +18%, LIVING +27%, and LOT +11%.

PENDING SALES: CONDOS 33; Median Price $1,618,575, Average Price $1,632,494, and LIVING $571.67.  TOWN HOMES 4 Median Price $1,750,000, Average Price $1,750,000, LIVING $483.29, and LOT $700.00.

MACRO MARKET TRENDS: STABILITY Trail-12 Closed Sale Values: CONDOS Median Price/Average Price Ratio 97%; of 35 closed sales trail-12, 57% were Under Average PRICE, 6% were Under Moody’s ‘Long-Run’ Affordability Price/Rent Ratio, and 54% were Under LIVING, 66% were Under Discount, and 60% were Under DOM.  TOWN HOMES Median Price/Average Price Ratio 100%; of 10 closed sales trail-12, 60% were Under Average PRICE, 90% were Under Moody’s ‘Long-Run’ Affordability Price/Rent Ratio, 60% were Under LIVING, 20% were Under LOT, 80% were Under Discount, and 50% were Under DOM.

MICRO MARKET DATA: RANK Closed Sale Price/LIVING by ISLE by DOCK-FACE Trail-36 Months: Top Five, 1 Palms Venice West $595.15, 2 Aquavita Hendricks East $494.70, 3 45 Hendricks West $444.03, 4 Retreat Hendricks East $438.86, 5 Acqua Mar Hendricks West $423.48; Bottom Five, 16 Landings Hendricks East $252.48, 15 La Maison Hendricks West $272.75, 14 Des Arts Hendricks West $278.00, 13 Terraces Hendricks East $314.65, 12 Venezia Venice East $316.58.